Investor Ideas, Trading Ideas and Stocks to Watch : #PlaybyPlay #Podcast: Lululemon (NasdaqGS: $LULU) Partnership with Peloton (NasdaqGS: $PTON) and NIKE (NYSE: $NKE) Reports Q1 Financial Results

Friday, September 29, 2023

#PlaybyPlay #Podcast: Lululemon (NasdaqGS: $LULU) Partnership with Peloton (NasdaqGS: $PTON) and NIKE (NYSE: $NKE) Reports Q1 Financial Results

#PlaybyPlay #Podcast: Lululemon (NasdaqGS: $LULU) Partnership with Peloton (NasdaqGS: $PTON) and NIKE (NYSE: $NKE) Reports Q1 Financial Results

Europe 4-0 in #RyderCup, and Russia and Belarus Cleared to Compete in 2024 #Paralympics in Paris

September 29, 2023 Investorideas.com, a global investor news source issues today’s edition of Play by Play covering what’s new in sports and esports headlines plus recent news from publicly traded companies.

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Lululemon Athletica Inc. (NasdaqGS:LULU) has announced a five-year strategic global partnership with exercise equipment and media firm Peloton Interactive, Inc. (NasdaqGS:PTON) wherein the latter will become the exclusive digital fitness content provider for lululemon, and lululemon will become the primary athletic apparel partner to Peloton. Celeste Burgoyne, President, Americas and Global Guest Innovation, lululemon, said:

"We’re excited to collaborate with Peloton to connect with our highly engaged communities across North America and in markets around the world. As a leader in technical athletic apparel, this partnership will create a powerful product offering for Peloton Members and fans. Our two companies share a vision to advance wellbeing through movement, and this partnership ensures our lululemon Studio Members will have access to the most expansive and dynamic offering of fitness content possible."

NIKE (NYSE:NKE) has reported its fiscal 2024 financial results for its first quarter ended August 31, 2023. Revenues for the quarter totalled $12.9 billion – $12.4 billion for the NIKE brand, and $588 million for the Converse brand. The company’s Executive VP and Chief Financial Officer, Matthew Friend, said:

"Our first-quarter results demonstrated the impact of staying on the offense over the past fiscal year. With a healthy marketplace and another quarter of brand and business momentum, we are strengthening our foundation for sustainable, profitable, long-term growth."

Europe 4-0 in Ryder Cup, and Russia and Belarus Cleared to Compete in 2024 Paralympics in Paris

Europe swept four foursomes (alternate-shot) matches, going 4-0 in this morning’s session for the first time in Ryder Cup history, according to a report from ESPN. The biennial golf competition is being held in Italy, where the Europeans are seeking to reclaim the trophy after losing 19-9 at Whistling Straits in Wisconsin in 2021. Ireland's Shane Lowry said:

"We are off to a great start this morning. We need to keep the foot down. Look, we are very happy with our start today, and obviously there's a lot of golf to be played from here. We talked about getting off to a fast start, and we have done that."

The Associated Press reports that Russians and Belarusians will be allowed to compete as neutral athletes at the 2024 Paralympics in Paris after avoiding a full ban from the event following the invasion of Ukraine. This follows a vote of 74-65 from the International Paralympic Committee against suspending Russia’s membership entirely. According to the report, athletes “from Russia and Belarus arrived at the Winter Paralympics in Beijing in March 2022, about a week after Russian troops invaded Ukraine. They were excluded a day before the opening ceremony.”

Sam Mowers, Investorideas.com

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