Nike sales slump 10%, shares plunge as new CEO faces massive challenge
Nike withdrew its full-year sales forecast on Tuesday and also missed quarterly revenue expectations, sending its stock price down by the hour as the sportswear giant struggles with weak footwear demand amid stiff competition from emerging brands around the world. It fell 6% outside. The company previously expected annual sales to decline by a mid-single-digit […]
Teenagers are stealing zipper pulls from Nike backpacks — why?
Stealing from strangers? TikTok users say “just do it.” Young thieves are stealing the zippers from Nike Elite backpacks, collecting dozens of them and reselling them to victims at high prices. New Online Trends. New York City Teens He boasted that he already had more than a dozen zipper ties made specifically for Nike backpack […]
Nike stock surges as CEO Elliott Hill tries to rally the troops
Wall Street cheered sneaker giant Nike's move this week to oust Chief Executive Officer John Donahoe, sending the company's shares soaring more than 8% after struggling over the past year amid sluggish sales. The stock price surge comes as longtime Nike executive Elliot Hill, who left the popular sportswear brand in 2020 but returned as […]
Nike CEO John Donahoe retiring in major shake-up
Nike Inc. said Thursday that former senior executive Elliot Hill will return to the company as president and CEO, succeeding John Donahoe, as the sporting goods giant shakes up its executive ranks as part of an effort to revive sales and combat growing competition. The company's shares rose 9% in after-hours trading. Hill spent 32 […]
Nike CEO To Retire As Sportswear Company Sales Drop
The Nike logo is displayed at the Nike Well Collective store in Glendale, California on February 16, 2024. (Photo by Mario Tama/Getty Images) By James Myers, OAN StaffThursday, September 19, 2024 3:22 PM Sports brand Nike said on Thursday that Chief Executive Officer John Donahoe will step down after more than five years at the […]
Stocks making the biggest moves after hours: Nike, FedEx, Lennar and more – CNBC
Here are some companies that are catching our eye in after-hours trading: Nike — Shares surged 10%. The sneaker maker announced that CEO John Donahoe will step down on Oct. 13. He will be replaced by Elliot Hill, a Nike veteran who spent 32 years at the company before retiring in 2020. FedEx — Shares […]
Bill Ackman’s hedge fund bets on Nike in first new investments in over a year
Billionaire investor William Ackman picked up new stakes in sportswear company Nike and investment management firm Brookfield in the second quarter, according to regulatory filings filed Wednesday. This marks Pershing Square’s first new investment, which manages about $17 billion in assets, since the firm pumped money into Google parent Alphabet in the first quarter of […]
Victor Wembanyama’s New Nike Prototype Shoe Looks … *Clears Throat* … Absolutely Garbage
Nike, I love you but you need to rethink your plan on this one. NBA Superstars Victor Wembanyama He is currently preparing for the 2024 Paris Olympics, where he will represent his native France, before moving on to prepare for his second season in the league with the San Antonio Spurs in 2024-25. But before […]
Victor Wembanyama’s new Nike shoes look like something an actual alien would wear
Victor Ouenbayama’s summer is about to begin. The 20-year-old prodigy will represent his native France and be one of the faces of the 2024 Paris Olympics. France just won the silver medal in men’s basketball at the last Tokyo Olympics, but the addition of the 7’5″ super freak will raise expectations even higher. After the […]
Odell Beckham Jr., Nike declare victory as $20 million lawsuit duel ends
Odell Beckham Jr. may have declared victory, but he’ll have nothing to show for it. The star wide receiver sued Nike for $20 million in 2022 for breach of contract, but was countersued by the sports apparel giant. On Thursday, a jury in Multnomah County Circuit Court in Oregon found that neither side breached contract […]