Posts Tagged ‘Nikes’
Nike’s China conundrum deepens as turnaround stagnates
Nike’s stock is down 13% so far this year, on track for a fourth straight year of declines [NEW YORK] Nike is running out of time to prove its China playbook works. The US sportswear giant’s sixth straight quarterly sales decline in the country – including a 20 per cent drop in footwear – underscores…
Read MoreNike’s 30-year gamble on Vietnam is rattled by Trump tariffs
[NEW YORK] At Nike headquarters in Beaverton, Oregon, executives are trying to figure out how to best spread the pain of new tariffs. Nike, the factories that produce its goods, the wholesalers that sell the goods and ultimately shoppers will all likely share portions of the cost, according to a source familiar with the matter…
Read MoreNike’s chief strategy, communications officers exit in shakeup
[NEW YORK] Nike’s top strategy and communications executives are leaving the company, adding to the list of senior leadership changes under chief executive officer Elliott Hill. Chief strategy and transformation officer Daniel Heaf is departing after management opted to eliminate his role, according to an internal memo seen by Bloomberg News. The teams he oversaw…
Read MoreNike’s Long International Struggle With Adidas
Nike scored one of the most surprising victories in their long battle to dominate international football business when they outbid Adidas to become Germany’s kit supplier. German newspapers reported that the American sports equipment giant overcame their rival’s home advantage with a bid of around 100 million euros ($108 million) a year. Adidas reportedly offered…
Read MoreNike’s ageing Air Force 1s feel heat from fast new runners
NIKE warned that sales will take a hit as it responds to a growing challenge from upstart running-shoe brands like On and Hoka, that have exposed the US sporting-goods company’s reliance on classic basketball models such as the Air Force 1. The world’s largest sportswear retailer expects revenue to fall by low single digits in…
Read MoreChristmas arrived early for Nike’s stockholders this year.
Christmas arrived early for Nike’s stockholders this year. On Tuesday, the athletic footwear and apparel maker reported solid fiscal 2023 financial results that beat analysts’ expectations, sending its shares sharply higher in after-hours and on Wednesday’s trade. Earnings per share came at 85 cents, well ahead of analysts’ expectations of 64 cents. In addition, revenues…
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