CNBC's "Fast Money"
Tesla Reports Results… And A Rising Star In The Athleisure Space 10/23/24
Oct 23, 2024
Joe Kudla, Founder and CEO of Vuori, shares insights into the thriving athleisure market. He discusses how Vuori plans to expand with over 100 new locations by 2026, leveraging strong cash flow. Kudla emphasizes that competitors don’t need to fail for Vuori to thrive, highlighting the brand's focus on versatility and consumer relationships. The conversation also touches on Tesla’s recent earnings, noting its impact on the broader tech landscape and market dynamics.
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Quick takeaways
- Tesla's earnings report highlighted strong operational efficiency and future growth potential through more affordable vehicle models, despite fluctuating delivery expectations.
- Vuori is carving out a niche in the athleisure market by focusing on comfort-driven products and strategic retail expansion, aiming to compete with established brands.
Deep dives
Tesla's Strong Earnings Report
Tesla's latest earnings report showcased impressive performance with an earnings per share of 72 cents, significantly surpassing expectations. Despite reporting slightly lower revenue than anticipated, the company's gross automotive margins exceeded estimates, highlighting strong operational efficiency. The report also indicated remarkable improvements in energy storage deployments, which more than doubled compared to the previous year. Forward-looking statements about upcoming more affordable vehicle models suggest that the company is preparing to enhance its market share while managing expectations for delivery numbers, which may drop for the first time due to production adjustments.
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