Eight bold colorways to choose from.
A first look at the partnership between Queen B and the Three Stripes.
Inspired by Jackson Hole, Wyoming.
Watch Sean geek out about the hidden details of the AJ1 Dior.
Best of both worlds? The adidas Ultra4D Triple White merges the upper of the model that ignited the Ultra Boost wave with Futurecraft tooling. Giving Boost a break, this hybrid take sees a white Primeknit top contrasted by a slightly green 4D sole for a fresh take on the 1.0 favorite. View this post on … Read more
The post The OG “Triple White” 1.0 adidas Ultra Boost Sees a 4D Upgrade appeared first on Nice Kicks.
Back in April, a major announcement was made. Beyoncé and her Ivy Park collection were headed to adidas. “This is the partnership of a lifetime for me,” said Beyoncé on the pairing back in the spring. Today, we see the first shoe and a release date. Set to launch on January 18th, the first footwear … Read more
The sneaker previously known as the Yeezy 700 VX is starting to surface in new takes with real release dates. The latest? The adidas Yeezy Boost 700 MNVN PHOSPHOR. Based in black and sporting lime green sidewalls, 3M branding identifies the model in the same manner as the Air More Uptempo for a loud look … Read more
The post “PHOSPHOR” adidas Yeezy Boost 700 MNVN Set to Light Up 2020 appeared first on Nice Kicks.
Eric Avar is no stranger to delivering great Christmas gifts. After all, he gave us the “Grinch” Kobe VI back in 2010. Nine years later he’s ready to outfit Kelly Oubre in the Converse All Star Pro BB “Nocturnal” – a holiday homage to the brand’s glowing past. Back in 1987 – long before Oubre … Read more
The post Grinch Kobe Vibes are All Over This Christmas Converse All Star Pro BB appeared first on Nice Kicks.
Jeff Goldblum. Actor. Style icon. Sneakerhead? The latter proves true in the latest episode of Sneaker Shopping. Linking up with Joe La Puma at Stadium Goods NYC, Goldblum discusses growing up on kicks at Sportie LA, getting the Balenciaga Triple S months before they caught on and lace swapping his Sacai Nikes. See what he’s … Read more
The post Jeff Goldblum Lace-Swaps His Sacai Nikes & Got the Triple S Months Before They Dropped appeared first on Nice Kicks.
First up we have an orange colorway which takes on a low top construction and is composed of a printed ripstop nylon upper which bears a seasonal real tree camouflage. Its counterpart comes covered in black in a fancy makeup up of an 8 wale cord and a robust cotton twill, essentially canvas and corduroy. Both pairs are finished off with off-white/cream detailing on the rubber toe and the rubber midsoles. A green rubber outsole on the orange pair and a black outsole on the black pair finish things off.
Look for both of these colorways of the Carhartt WIP x Converse Chuck 70 now at Carhartt WIP stores as well as online.
The post The Carhartt WIP x Converse Chuck 70 Is Available Now appeared first on KicksOnFire.com.
Heads up Curry fans! The newest colorway of the Under Armour Curry 7 drops this upcoming weekend. Dubbed (no pun intended) the Under Armour Curry 7 Dub Nation, this special colorway of the model is both a thank you as well as a badge of honor
The newest Curry 7 colorway from Stephen Curry and Under Armour is both a thank and a badge of honor; a way to show that pride – throughout The Bay and around the world. The inspiration behind the this Dub Nation colorway is centered on the electric vibes to celebrate the team’s new city and arena this season. This is done by giving the shoe a blends of Blue hues contrasted by the hits of Neon that amplify the energy of the original team colors. Just like ant other Curry 7, this pair also boasts a multi-layer upper placed on top of a sole with both UA HOVR and Micro G cushioning platforms.
The post Under Armour Curry 7 Dub Nation To Debut This Week appeared first on KicksOnFire.com.
Another week of football and another eye-catching pair of cleats for Odell Beckham Jr. OBJ’s Week 14 cleats for a cause serve a playful take on the wide receiver’s support of an animal rescue shelter in Cleveland. This special iteration of the Nike Vapor Untouchable Pro 3 OBJ Uptempo Cleat takes on a fuzzy fur upper that is meant to mimic the fur of a dog. The majority of the shoe is done in a yellow/gold while dark brown appears on the toe. OBJ wore these cleat for the Cleveland’s December 8th matchup against the Cincinnati Bengals both during pre-game and in game.
The post Odell Beckham Jr. Pays Homage To Cleveland Animal Shelter With His Week 14 Nike Cleats appeared first on KicksOnFire.com.
The Nike PG 3 is reaching its end as Paul George’s 4th signature basketball with the Swoosh is set to release VERY soon. According to Foot Locker’s release calendar, the Nike PG 4 is set to debut in its very first colorway some time during January 2020. This Nike PG 4 will come in a Black, White, and Smoke Grey color scheme (perhaps to match with the Clippers new “City” Edition uniforms?) While there are no leaked images of the Nike PG 4 yet, the shoe is expected to once again be a low and will be highlighted by a mesh upper with a zipper somewhere on the shoe.
Stay tuned to Kicks On Fire for a first look as well as the official unveiling of the Nike PG 4.
Made popular by Vince Carter during his day with the Toronto Raptors, the Nike Shox BB4 is returning in yet another OG colorway for the Holiday 2019 season.
The popular silhouette from Nike Basketball starts off with a white leather upper that is then contrasted by black patent leather on the side panel overlays as well as on the upper part of the tongue. For further contrast we see the addition of blue accents throughout the shoe along with a silver heel counter. The signature Shox unit on the heel wraps things up on this Nike Shox BB4 that will be releasing in the near future for $160. Will you cop? Stay tuned to Kicks On Fire for updates.
New Balance Hoops returns this week with another new colorway of the New Balance OMN1s, this time with the City of Angels rendition. The sixth of seven colorways to release over the remainder of 2019, this New Balance OMN1S features a striking black & white colorway makeup with blue and red accents. This pair will be Kawhi Leonard’s sneaker of choice moving forward when the Clippers don the team’s signature black and white City Edition uniforms. Kawhi Leonard plans to wear the “City of Angels” colorway for the first time on Thursday, December 19th against the Houston Rockets.
Look for the New Balance OMN1S City of Angele to release this Thursday, December 12th at 10am ET online and at select Shoe Palace and Footlocker locations around the world.
The post The New Balance OMN1S City of Angels Releases This Week appeared first on KicksOnFire.com.
Beyonce has just given us a first look at her first upcoming collection with adidas following the announcement of their partnership this past Spring. The forthcoming collection between Queen Bee and the three stripes will include apparel, footwear, as well as jewelry with a glimpse at the first sneaker seen above. The Ivy Park x adidas sneaker resembles a mix between the adidas Forum, Beyonce’s favorite adidas shoe, and the adidas Samba. The shoe features a white leather construction on the upper with burgundy leather detailing on the three stripes branding on the side panels and the heel, as well as grey suede overlays on the toe. Finishing off the sneaker is orange trim above the midsole with “IVY PARK” branding, IVY PARK branding on the tongues, and a chunky gum rubber midsole/outsole.
Look for the Beyonce x adidas Ivy Park to release on January 18th. Keep it locked to Kicks On Fire for updates.
The post A Look At Beyonce’s First Sneaker Collaboration With adidas appeared first on KicksOnFire.com.
Converse returned to the basketball world earlier this year with the arrival of the Converse All Star Pro BB, a creation done in collaboration with legendary Nike basketball designer, Eric Avar. Before the year comes to an end we’ll see the release of another new colorway that is sure to break a few necks left and right dubbed the “Nocturnal” colorway.
The Converse All Star Pro BB “Nocturnal” adds a fresh twist to the silhouette with the addition of a glow-in-the-dark sole unit. In vibe, it carries a cheeky nod to a previous holiday edition of an Eric Avar classic. In practice, the shoe also celebrates Converse’s two-decades-long legacy of experimentation with phosphorescence.
Converse initiated glow-in-the-dark designs in 1987, when both uppers and outsoles of the Chuck were first illuminated. This was a step in the continued evolution of the icon — pushing beyond prints to augment the presence of the sneaker on the streets. Now, with the All Star Pro BB, the luminous look adds to the energetic statements made on the shoe’s upper since the silhouette’s debut in April.
The Converse All Star Pro BB “Nocturnal” releases December 12 in China and December 15 in North America.
The post Light Up The Room With The Converse All Star Pro BB Nocturnal appeared first on KicksOnFire.com.
With the release date being less than one week away, adidas and Kanye West have finally official introduced the adidas Yeezy Boost 350 V2 Yeezreel.
The adidas Yeezy Boost 350 V2 “Yeezreel” boasts a black/white Primeknit construction that is intertwined with glowing green accents. Finally, the model is topped off with a glow-in-the-dark translucent outsole encasing the signature Boost cushioning.
Retailing for $220, look for this adidas Yeezy Boost 350 V2 on December 14.
The adidas Yeezy Boost 350 V2 Yeezreel will be available on adidas.com/YEEZY, on the adidas app in North America and Europe, on YEEZY SUPPLY, and in select retailers. A full list of retailers can be found at adidas.com/YEEZY.
Click and bookmark our adidas Yeezy Boost 350 V2 “Yeezreel + Yeezreel Reflective” hub page now for everything you need to know about the sneaker and where to buy it online. Always keep it locked to KicksOnFire for the latest in sneaker news, release dates and where to purchase your favorite kicks.
The post adidas & Kanye West Officially Announce The adidas Yeezy Boost 350 V2 Yeezreel appeared first on KicksOnFire.com.
For the first time ever, The Hundreds and Puma have teamed up for their debut collaboration.
Shown above, the The Hundreds x Puma Clyde honors the OG colors of the Clyde sneaker remixing them all in one shoe.
With “people over product” as their mantra, THE HUNDREDS aims to take a fresh perspective on streetwear and create products as unique as their consumers and is continuing that mission with The Hundreds x Puma Clyde.
Inspired by different cultural profiles from the ‘90s to today, this nuanced collection celebrates the ongoing development of streetwear culture with bold, diverse designs. Opting for a mismatched motif, this Puma Clyde is constructed using both leather and a hairy suede, while also using different colors on both the lateral and medial side of each shoe. It looks like you’re wearing two shoes, but it’s actually just one with a lot going on.
Feet hurt? Properly fitting shoes are not the only thing that contributes to foot health and comfort. The right socks can further enhance the fit and feel of a shoe, with styles designed for sport and dress wear, as well as those with therapeutic value that include compression socks.
In building a sock wardrobe, consider sport-specific socks. They are typically thicker, designed to absorb underfoot impact and shock when running or playing basketball. Since feet can sweat during these activities, many feature moisture-wicking properties to keep you cool and dry. Many are designed with arch support for an extra level of comfort.
Dress socks are anything but basic black and brown these days. Done in novelty patterns and colors, they add some unexpected fun and self-expression to a classic suit. Don’t be shy about letting them peek out from under your slacks.
For those looking for extra comfort and support, compression socks are gaining traction today. They apply gentle pressure to the legs and ankles to help eliminate foot fatigue and promote blood flow.
End the day with a pair of slipper socks, easy-to-wear styles that are both cozy and warm.
From dress socks to compression and athletic styles, FN has put together a sock closet that will take you through your week.
Best Men’s Dress Socks:
7DayOtter Modal Dress Socks
These modal socks are super-soft, while also moisture wicking. A reinforced heel and toe offer enhanced comfort for all-day wear. Their boxed design makes them an easy gift.
Dockers Classics Dress Argyle Socks
The classics remain a staple in today’s sock wardrobes, with their go-with-everything design appeal. A mid-weight design allows them to be worn with dress to casual shoes.
Mio Marino Colorful Dress Socks
Never run out of fashion options with this multi-pack of novelty socks that are just as acceptable at the workplace as for weekend wear. The mostly cotton collection helps keep feet dry while spandex keeps their shape.
Best Men’s Compression Socks:
ETLieren Compression Socks
Arch compression adds support and stability to reduce foot fatigue, while keeping socks in place for better fit and reduce risk of blisters during activities. The breathable fabric wicks away moisture for a fresh feeling.
Hylaea No Show Compression Running Socks
A low-cut design focuses the compression at the arch area for enhanced support during your next marathon. The sole is a blend of CoolMax fabric and cotton for moisture management, while the double heel tabs are designed to stop the sock slippage in the shoe.
TechWare Pro Ankle Brace Compression Socks
A lightweight stretch fabric helps relieve the discomfort from arthritis, achilles tendonitis, sprains, and muscle fatigue. The comfort design features a slightly flared top for easy dressing, with an anatomically correct right and left foot closed-toe design for a close fit.
Best Men’s Sport Socks:
Saucony Bolt Performance No-Show Socks
Keep cool and comfortable with a colorful collection designed with moisture management technology, arch compression for stability and cushioned sole to protect against impact.
Under Armour Resistor 3.0 Low-Cut Socks
This classic white design incorporates a strategic heel and toe placement to protect these high impact areas, while a seamless construction reduces irritation at the toes.
Hepsibah Thsbird Basketball Socks
It’s easy to coordinate your athletic shoes with this collection of brightly colored socks that gently hug the leg due to their mid-calf design.
Best Men’s Slipper Socks:
Acorn Slipper Sock
Acorn’s signature ragg wool slipper sock is extra cozy designed with a microfleece lining. For comfort on a range of surfaces, a cushioned insole adds support and softness, while a suede toe and heel guards, along with rubber outsole offers slip resistance.
Muk Luks Slipper Socks
A Fair Isle-inspired sock in neutral tones features a reindeer pattern. This cabin-friendly design picks up a rubber outsole for durability.
All products featured have been independently selected and curated by our editorial team. If you buy something through the links included on our site, FN may earn a commission.
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Over three years as first lady, Melania Trump has homed in on a distinct style sensibility — and it includes lots of stilettos.
Trump is a particularly big fan of two classic, pointed-toe pumps: Manolo Blahnik’s BB and Christian Louboutin’s So Kate. She owns each silhouette in a wide range of colorways and fabrications, often matching them to her dresses for smartly coordinated looks.
Sometimes, Trump takes the coordination a step further — choosing completely monochromatic outfits. She took on the monochrome trend in February, when she wore head-to-toe pale pink with BB pumps at a children’s hospital in Bethesda, Md.
In addition to her beloved So Kate pumps, Trump has been spotted in several other Christian Louboutin silhouettes over the course of the year. The stiletto lover has ditched her usual heels for sensible flats several times, including Louboutin’s Ballalla ($575 on Nordstrom.com).
While both Manolo Blahnik and Christian Louboutin come at designer prices — the BB costs $625 and up on Nordstrom.com, while the So Kate will set you back $695 at Saksfifthavenue.com — Trump has occasionally mixed more affordable shoes into her wardrobe.
The former model opted for an even more budget-friendly pair of shoes in November, choosing $50 Zara snake-print loafers at the Red Cross headquarters in Washington, D.C.
The first lady has also worn styles from Victoria Beckham, Gianvito Rossi and Roger Vivier.
Click through the gallery for more of Melania Trump’s 2019 shoe style.
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“My ultimate professional goal in footwear is to have a small-scale factory with an in-house brand that can offer design, development and manufacturing services,” Hankins said. “We will train local skilled laborers and offer a program for young adults to design and make footwear as portfolio pieces to submit when applying to college.”
Hankins, with the help of his family, is making this dream a reality. He’s building the factory in uptown New Orleans in a familiar location: his grandfather’s storefront.
During the conception and construction process, Hankins managed to churn out his first major professional milestone: his debut shoe, the Maximum Viable Product (MVP).
He released the luxe sneaker in August via Instagram in the “Matzeliger” colorway. It’s a black monochromatic look named after Jan Matzeliger, the inventor of the automatic shoe lasting machine. (Hankins included hidden details inspired by the invention throughout the shoe, including its patent number inside a window on the upper.)
These are accomplishments for anyone, let alone the youthful executive, who is doing all of this at just 23 years old.
Here, Hankins discusses what his next shoe release will be, how he creates and which footwear industry veterans have helped him along the way.
EDUCATION: “I’ve attended programs like Pensole in Portland [Ore.] and Arsutoria in Milan. And I learned pattern making and footwear construction one- on-one with many teachers from all over the world. I never went to college.”
ONGOING PROJECTS: “I am working to release the second colorway of my MVP sneaker and working with my family to renovate my late grandfather’s shoe repair shop into a small-scale footwear factory in uptown New Orleans.”
CURRENT ROLE: “I do design and development work for my own brand, Jelani, as well as independent work for other brands such as No.One, Twenty1Rich and Still Learning by Allen Van Norden.”
CREATIVE PROCESS: “I start with either the envisioned functionality for the shoe or the style of outfit to wear with the shoe. After some research, I will draw the idea on paper or go straight to drawing it on the last. I’ll make a pattern and initial sample myself before getting one made by a factory for production. This way, I have no doubts about the design and how it should look.”
MENTORS: “Safa Sahin, D’Wayne Edwards, Javier Laval, Cesar Idrobo and Shaun Forbes.”
BREAKTHROUGH DESIGN: “The MVP (Maximum Viable Product) is the first design I’ve made available to buy.”
SHOES I WEAR: “I wear my MVP sneakers, and occasionally, Reebok by Pyer Moss.”
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“Consumers have so many options and their attention spans are so short, you have to hit the nail on the head and be direct about what you’re offering. Otherwise, it’s lost in the mix,” Chevallard said. “I went from offering a Crayola box of options to just two now.”
Abandoning the 100-plus SKUs per season model of Del Toro, the entrepreneur launched Blu Scarpa last month with the La College penny loafer and the La Runner sneaker. Chevallard sees brands such as Tod’s and Gucci as competitors for the La College, and Common Projects, Lanvin and Nike for the La Runner.
The looks, which he described as the “perfect arsenal for the modern man,” are handmade in Italy and retail for $425.
“I saw a void in designer shoes. I want a uniform, something when I travel — whether it’s a week or two weeks or two days — it’s two shoes [that work] for every function. Something that goes well with everything,” he said.
The shoes debuted on Nov. 7 in Miami at The Webster and a pop-up shop in the Office art gallery.
Although Chevallard revealed the brand at brick-and-mortar, his focus will primarily be on e-commerce. Ideally, he’d like 70% of the sales to come from Bluscarpa.com.
“Wholesale is certainly not dead, but it’s challenged,” said the designer. “You need wholesale for credibility, for exposure, but that can slap you in the face when you don’t sell through quick enough. You have to be careful because the shelf life and ability to capture people’s attention and convert a transaction is that much harder today.”
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Kanye West and Adidas are giving sneakerheads something to put on their holiday wishlists.
The rapper turned designer and the German sportswear brand today announced the release of the Adidas Yeezy Boost 350 V2 “Yeezreel,” which will be available for purchase on Saturday, Dec. 14. The shoe will sell for $220 on Adidas.com/yeezy, Yeezysupply.com, on the Adidas app and in select retailers.
The Yeezy Boost 350 V2 features Adidas’ signature Boost cushioning technology in the midsole, a Primeknit woven upper and a rubber outsole. The “Yeezreel” colorway has volt-based upper with black accents and turquoise laces. The shoe features a semi-translucent stripe running across the lateral side from heel to toe.
Yeezy shoes tend to sell out quickly, but customers hoping to snag a style from the buzzy line at retail before Christmas are in luck. Three other Yeezy Boost 350 V2 colorways are reportedly on tap for December: “Yeezreel Glow RF” on Dec. 17, “Yechiel RF” on Dec. 19, and “Yechiel” on Dec. 20, according to sneaker leaker account Yeezy Mafia. All styles are expected to cost $220.
In addition to the 350 V2 colorways, Yeezy Mafia reports that the Yeezy Boost 700 V3, a new silhouette in the Boost 700 franchise, will drop on Dec. 23. The shoe will purportedly retail for $180.
West earned $150 million before taxes in the past year, according to Forbes, with the bulk of his income coming from the Adidas Yeezy collaboration. The sneaker line is reportedly on pace to do $1.5 billion in sales the year, putting it in competition with Jordan Brand, which brings in around $3 billion annually.
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It’s nearly 2020, but in fashion the ‘90s are as alluring as ever. On Instagram, nostalgia accounts like @90sanxiety have tapped into the Dr. Martens, biker shorts and spaghetti straps worn then by the likes of Cameron Diaz, Winona Ryder and Gwyneth Paltrow, “It” girls of the decade. Nowadays, Gen Z “VSCO girls” don an endless supply of scrunchies and brands like By Far purvey Rachel Green style and Princess Diana-inspired heels. Even anklets and toe rings are making their comebacks.
For spring ’20, the wood clog is making a roaring comeback. From Kate Spade’s collaboration with Dr. Scholl’s and homages of the silhouette from brands like Roger Vivier and By Far to Fabrizio Viti’s denim-covered version with very-Drew-Barrymore daisy embellishments. And with news of a “Clueless” reboot coming in 2020, the clog revival feels appropriate.
Platforms, flatforms and square toes — all most recent relics of the ’90s — have also been on rotation in 2019 and spring ’20 collections are hinting that they will continue to dominate next year.
But there’s also proof that, for better or worse, the 20-year trend cycle will hold: Low rises, cargo pants and baguette bags have all crept back into celebrity and street style. And those strappy sandals with lower heels were one of the major footwear trends that ushered in the new millennium.
Click through the gallery to see more ’90s-inspired spring 2020.
Melania Trump is ready for the holidays.
The first lady wore a festive look as she joined children at the U.S. Marine Corps Reserve’s Toys for Tots Drive today, Dec. 9, in Washington, D.C.
The ex-model embraced the cooler weather with her footwear, choosing red slouch boots that peeked out from under her skirt. The boots appeared to be fabricated from leather and featured a pointed toe.
At the Toys for Tots event, Trump helped sort toys for the organization and worked on greeting cards with young children. Toys for Tots, a program run by the U.S. Marine Corps. since 1991, collects unwrapped new toys to give to the less fortunate at Christmastime.
The first lady has made a number of recent appearances coinciding with the holiday season, and she’s showing off festive style for the events. For instance, on Thursday, Dec. 5, she pressed the button to light the national Christmas tree clad in a red and white Gabriela Hearst coat.
When it comes to her typical shoe looks, Trump is a big fan of stilettos — especially Manolo Blahnik BB pumps and Christian Louboutin So Kate pumps.
Click through the gallery to see Melania Trump’s best shoe style of 2019.
Melania Trump’s Best Shoe Style of 2019
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South Korean footwear label Switfish is celebrating its collaboration with “Star Wars” in the U.S. exclusively online and in-store at iconic indie retailer Sportie LA.
Fans can stop by the Star Wars x Switfish pop-up space at 7763 Melrose Ave. in Los Angeles through Dec. 31 for special in-store promotions and be among the first in the U.S. to experience the collection. The shoes will be available on Sportiela.com with prices ranging between $49.95 to $179.95.
The launch of the new products arrives just in time for the upcoming film “Star Wars: The Rise of Skywalker” (Dec. 20), the newly released “The Mandalorian” television series and the video game Star Wars: Jedi Fallen Order. The collaborative kicks are offered in three distinct styles including the Star Wars x Switfish Premier Collectible sneakers, the Chunky Canvas sneakers and Slide sandals. Starting with the Premier Collectible model, fans can choose between iterations inspired by fan-favorite characters like Darth Vader BB-8, C-3P0, R2-D2, Poe Dameron as well as Storm Troopers. Each pair comes with a plastic design kit that features pieces that can be used as accessories for the shoes.
For the Chunky Canvas, the colorways draw inspiration from Luke Skywalker, BB-8 and R2-D2. Rounding out the collection are the slides featuring distinctive looks inspired by Chewbacca and Yoda.
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Kawhi Leonard may have played for San Antonio and Toronto, but he’s a Los Angeleno at heart.
Now that the star is back in L.A. and on the Clippers, New Balance is paying homage to his hometown. The sportswear giant today announced the launch of Leonard’s signature sneaker, the OMN1S, in a “City of Angels” colorway. The new colorway will debut online at Newbalance.com and in select Foot Locker and Shoe Palace shops beginning at 10 a.m. ET on Thursday.
The “City of Angels” colorway is black and white with subtle blue and red accents. One shoe features old English lettering on a midfoot strap reading “New Balance,” while the other says “City of Angels.”
The OMN1S silhouette features a woven FitWeave upper with 3D Ultra Heel construction, a combination meant to create a long-lasting, locked-in feel on the court. A FuelCell midsole helps propel the wearer forward, while OMN1S branding is located at the tongue.
Leonard will sport the “City of Angels” colorway of his signature shoe on the court for the first time on Dec. 19, when the Clippers square off against the Houston Rockets.
Sign up on Newbalance.com now to receive emails with information regarding the release of the OMN1S City of Angel. The shoes cost $140 in adult sizes and $100 for kids’ sizes.
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Moody’s is feeling down on department stores.
The credit rating agency today slashed its outlook for the sector citing ongoing top-line disappointments in the space.
“Despite a very healthy consumer and heavy spending to improve inventory efficiency and online capabilities, department stores rang up a disappointing third quarter close on the heels of a very bleak first half,” Christina Boni, Moody’s senior credit officer, wrote in a client note, adding that the firm cut its operating income growth forecast for the sector again, to a 20% decline in 2019 versus its previously-forecasted 15% decline.
While Boni anticipates that department stores will “remain among the worst performers of retail” into 2020 — describing prospects as “increasingly bleak” — she said she does expect sharp declines in the space to abate significantly in the new year, with operating income stabilizing at a 1% projected decrease.
Department stores have taken investors on a roller coaster ride for the better part of three years as its key names teeter between glimmers of hope and signals of demise.
The third-quarter had been a mixed bag for most of the sector’s players — with Kohl’s and Macy’s citing unseasonably warm fall temperatures for their disappointing results as Nordstrom’s performance painted a more positive picture of the sector. The latter this month, filed Q3 earnings per diluted share of 81 cents, trouncing Wall Street’s forecasts of earnings per share of 64 cents. Its revenues, at $3.67 billion, were in line with analysts’ bets.
Macy’s, meanwhile, slashed its fiscal year guidance after posting on Nov. 21 its first Q3 same-store sales decline in two years. Nevertheless, its adjusted earnings per share of 7 cents topped analysts’ expectations of a break-even point while revenues were down 4.3% to $5.17 billion, versus Wall Street’s bets of $5.32 million. Its same-store sales dropped 3.5%.
JCPenney signaled it had some turnaround potential when it posted a narrower-than-expected third-quarter loss on Nov. 3 and upgraded its full-year outlook. The firm saw its adjusted net loss per share improve 37.5% to 29 cents — far better than Wall Street’s bets of a 55-cent loss. Still, the beleaguered retailer posted revenues that decreased 10.1% to $2.38 billion, while adjusted same-store sales were down 6.6%.
Kohl’s on Nov. 19 logged adjusted diluted earnings per share of 74 cents — well below Wall Street’s forecast of 86 cents. Profits dropped to $123 million, compared with $161 million the prior year. Same-store sales, which grew 2.5% in the same quarter last year, increased slightly by 0.4% this Q3, versus expected growth of 0.8%. Like Macy’s, it also slashed its guidance for the year.
For struggling retailers, preliminary Thanksgiving weekend results had signaled that the holiday season was off to a solid start: According to Salesforce, global online sales saw a 15% gain to $768 billion during the unofficial holiday season kick-off weekend. But Moody’s suggested today that the competitive landscape has yielded an “extremely promotional” environment during the all-important holiday season.
“Fewer days between Thanksgiving and Christmas relative to last year could exacerbate the promotional environment,” Boni added. The weakness at mainline department stores come as off-price retail players TJ Maxx, Marshalls, Burlington and Ross have managed to eke out steady gains by leveraging their generally lower prices on branded wares and a thrill of the hunt/find environment.
Despite Moody’s negative outlook, department stores looked to end the trading day in the green on Monday. As of 4 p.m. ET, Macy’s was up 2.2% to $15.48; Nordstrom advanced 3.6% to $38.91; Kohl’s was up 3.3% to $48.71; and JCPenney had gained 1.8% to $1.15.
Odell Beckham Jr. will take the field in custom Nike Vapor Untouchable Pro 3 cleats for his first season with the Cleveland Browns.