Decker Outdoor Tumbles on Guidance; Amex to Cut Workforce

0:02 Bloomberg Audio Studios, podcasts, radio, news. The Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg data. Let's take a look at some stocks on the move today. Always brilliant. Alexis Christophe.

0:21 Let's take a look at Deckers Outdoor, ticker symbol D-E-C-K. Stock under pressure, down about 8% here in the pre-market. So they lowered their sales guidance after revenue in the latest quarter rose by about 3.5%. That missed analyst forecast. Net income a little bit better than expected at Decker's.

0:40 It did raise its earnings outlook, but that was thanks mostly to a boost from tariff refunds. So remember, this is the company. It's a shoe company, a sneaker company. They own Uggs and Hoka sneakers, very popular Hoka sneakers. But Decker says, look, they said on the earnings call, executive said consumers are becoming more cautious about how much they're spending. Their shoes are tend to be on the pricier side. Decker says they plan to keep selling the shoes at full price, even though that choice is resulting in lower revenue outlook for the year.

1:09 So they're sticking with it.

1:11 OK, very good.

1:12 The mix thing is a huge deal, isn't it?

1:15 Like price to units.

1:17 Oh, yeah. Do we sell them cheap and sell a lot or not?

1:20 Before I buy anything, I check online first. Can I buy it elsewhere cheaper? Or start using, I'm using AI a little bit for those choices.

1:26 Yeah, yeah. It makes me smarter. Okay.

1:29 It does.

1:29 All right.

1:31 Kerrig. So this company here over in Paris.

1:33 Oh, this is Gucci. Gucci.

1:34 This is Gucci, parent company of Gucci, among other brands. But it is down today. Let me see.

1:40 Oh, boy.

1:41 Fourteen and a half percent down. Thirty nine percent a year to date. Third quarter sales fell, especially at its flagship Gucci brand, where they saw a lot of weakness in mainland China and in Japan. And growth slowed here in the U.S., This company returned to growth for the first time in three years the prior quarter, so still trying to get its feet under it. Organic sales at Gucci fell 6%, again, partly due to that weakness that we're seeing over in mainland China. There were some positives, including progress at Yves Saint Laurent. Bottega Veneta, jewelry, eyewear.

2:19 I don't speak French. I just make believe. But they also have new creative directors for St. Laurent and Alexander McQueen. So analysts are saying that could be maybe something, you know, this quarter and in subsequent quarters.

2:32 They were so in.

2:32 They were just incredibly like beyond, like, like in.

2:36 No other way to put it.

2:37 But also, Hermes this week came out. Again, a lot of these luxury goods companies seeing weakness in China, where there really was never that weakness. Without question, that's the theme. All right. American Express also down this morning about 3% here. It is cutting 5% of its headcount globally. American Express, the CEO, is trying to keep a lid on the company's rising costs. He says these cuts are intended to make the company more agile and efficient. You know, just this week, Barclays also said they were going to be cutting about 5,000 jobs. So American Express posted third quarter earnings that beat estimates with adjusted earnings per share of about $ 4. 68 and also raised its full year earnings guidance.

3:20 but build business. This is a measure of transactions on credit cards and other products came in weaker than expected.

3:27 The Stock Movers Report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio live. Catch us on YouTube, Bloomberg.com and on Apple CarPlay and Android Auto with the Bloomberg Business app.