Last week, the Footwear & Accessories industry saw an increase in sentiment score of 35 points. Nike and Foot Locker were amongst the companies with the highest aggregated sentiment score, driving sentiment upwards for the category.
In a report published on Sep 25, Wedbush analysts increased estimates for Nike’s EPS in Q3 2020 to $0.77. Similarly, Pivotal Research also boosted their price target on Nike shares and issued a ‘buy’ rating for the company. During the same time period, the sports giant also announced its $30 million new kit deal with Liverpool.
Foot Locker announced an investment of 3 million USD in the e-commerce platform NTWRK as a part of its Series A funding round, The investment of Foot Locker is expected to help the company target the youth customer segment better and drive business in new and exciting ways.
On the other hand, sentiment score for Advertising Agencies dropped by -59 points, becoming the worst-performing industry during the time period. Sentiment losers included Comscore and M&C Saatchi.
“Legal dispute” was the lowlight of last week for Comscore, which saw its sentiment score drop to -34 points. The company and its former CEO were required to pay a $5.7 million fine to settle the case of a USD 50 million accounting fraud aimed at beating Wall Street revenue estimates.
Meanwhile, M&C Saatchi released a profit warning after accounting errors were spotted in its annual results. Even though the impact on the results was short-term according to M&C Saatchi’s chief executive, the agency’s full-year operating profit is forecasted to be 5 – 10% below expectations.
1 Companies that contributed most to last week’s industry sentiment change.
2 Top trending event related to the respective company.
3 Weekly aggregated company sentiment score (ranging from -100 to +100).
4 Weekly aggregated company attention buzz (the percentage by which the number of news, blogs and tweets about an asset deviates from normal attention).
*Industry name and classification as per Morning Star
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