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To boost its economy, Spain may offer young Spaniards $290/month to move out of their parents’ houses, plus another $462/year to spend on “cultural activities” — except bullfights (for real).
Stocks rose yesterday after lawmakers set aside differences to raise the debt-ceiling through early December and prevent a default. Now all eyes are on the September jobs report, which comes out today.
Cotton comeback… High-waisted jeans are in at Levi’s. Levi’s lifted its annual forecasts after last quarter’s sales blew past pre-pandemic levels for the first time. Rising cotton costs have caused shares of retailers like H&M and Gap to fall over the past six months. But Levi’s stock surged 9% yesterday thanks to the denim powerhouse’s strong sales and proactive supply chain.
Casual clothes, serious supply chain… Levi’s is cashing in on denim demand. The overall apparel market has outgrown its pre-pandemic size, and denim sales have grown even faster. Levi’s leaned into the jean-aissance by investing in Levi’s-branded stores and embracing the post-pandemic “casualization” trend (think: baggier fits and yoga-wear). But there’s another secret to Levi’s success: smart supply-chain management. Here’s the skinny:
Reliable supply chains never go out of style… but fashion trends come and go. Levi’s sales are booming today because it diversified its supply chain years ago. Levi’s de-risked system ensures no more than 20% of products come from any one country, preventing pipeline wrinkles. In the wake of pandemic factory closures, more companies making everything from shoes to furniture are trying on Levi’s strategy and diversifying their supply chains too.
King of the sneaks... Nike is officially the No. 1 footwear and apparel brand among teens, according to Piper Sandler’s Gen Z survey. It’s held the top spot in both categories for the past decade. The competition:
Slam-dunk strategy… Thanks to social media (Nike is IG’s most followed brand with 177M fans) and the rise of “sneakerheads,” Nike has shown it's not just the sponsor of your favorite NFL team. For years, it’s been tailoring its products and reach to Gen Z:
Nike is like the Beyoncé of retail brands… and Gen Z is the music industry. Similar to how Queen B has resonated for decades and across generations, Nike has stayed relevant by reaching young customers where they are and leaning into styles that click. While Fortnite and Snapchat are in today, Nike will need to keep refocusing its strategy as social hubs shift.
Perfect Day hit a $1.5B valuation as early investors work up a big alt-dairy appetite.
Tune in to hear what that means for its potential IPO plans.