The $12 Billion Merch Moment
October 30, 2025
Promotional apparel is no longer simply a freebie – it’s
EARNINGS REPORT | March 23, 2025
Nike (USA) reported Q3 revenue fell 9% to $11.3 billion. Net income fell 32% to $0.8 billion.
Five Below (USA) reported Q4 net sales rose 4% to $1.39 billion. Operating income fell 7.8% to $246.8 million.
PDD Holdings (China), which owns Temu, reported Q4 revenue rose 24% to 110.61 billion yuan ($15.1 billion). Operating profit rose 14% to 25.6 billion yuan ($3.5 billion).
Destination XL Group (USA) reported Q4 sales fell 13% to $119.2 million. Net loss for the fourth quarter was $1.3 million, as compared to net income of $5.2 million a year ago.
Forever 21 (USA) filed Chapter 11 bankruptcy protection. The company has lost more than $400 million over the last three fiscal years, about $150 million last year alone. It is on track to lose $180 million in EBITDA this year, per court documents.
Markets
Promotional apparel is no longer simply a freebie – it’s
C-suite execs talk about the importance of brand identity, how
Recent earnings show that brands who have gotten the fundamentals
Major sports brands have pivoted to outdoors as growth and
What C-suite execs are saying about Holiday 2025 … Expanding
The brand’s “Intelligent Style” approach is rewriting the rules of
© 2026-27 Inside Fashion Ltd.