High inflation, soaring gas prices, rising interest rates, and a bear market correction in the stock market are among several factors that currently have consumers (and economists) on edge. These concerns are starting to manifest themselves in the economic data: retail spending posted a surprise 0.3% decline in May, and the University of Michigan’s consumer […]
In the last few weeks, we’ve heard from several consumer products companies that after a strong start to 2022, retailers are delaying and cancelling orders scheduled for delivery in the second and third quarters of this year. It’s hardly surprising that consumers may be beginning to balk and that retailers are getting more conservative, as […]
Nike (including the Jordan brand) and Adidas have dominated the U.S. athletic footwear market for many years; according to NPD, the two brands control 51% and 11%, respectively, of the domestic athletic shoe market. However, recent developments suggest that change is underway. According to a recent report from Footwear News, Nike/Jordan and Adidas athletic footwear […]
SPAC IPOs and de-SPAC transactions reached record-breaking numbers in 2021, building off already-high levels of activity in 2020. According to SPACInsider, the number of SPAC IPOs increased from 248 in 2020 to 613 in 2021 and total SPAC IPO proceeds also increased from approximately $83 billion in 2020 to more than $160 billion in 2021. […]
An important skill as an investment banker is to work with clients to project companies’ future financial performance. Whether dealing with investors, lenders, or shareholders, all want to know how management sees the next few months, quarters, and years playing out. In the process of developing projections, company management spends hours trying to prognosticate what […]