2024-10-01 23:55:09
Business
Companies
Economy
Nike Faces Challenges Amid Declining Sales
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The Street
Economy
Finance
Nike, the top sportswear brand, faces declining sales and market share. It ended retailer partnerships to focus on direct-to-consumer, but this backfired as competitors like Hoka, OnRunning, Adidas, and New Balance gained popularity. Nike now seeks to rebuild wholesale partnerships and focus on innovation under new CEO Elliott Hill, a former executive, while scaling back on franchises like Air Force 1, Air Jordan, and Dunks to launch more innovative Nike-brand products. Former President & CEO..
Yahoo Finance
Nike stock wavers as revenue falls short of Wall Street estimates
Economy
Finance
Nike reported mixed Q1 results, with EPS beating but revenue missing estimates. The company faces a CEO transition and competitive pressures, with a lack of new products and six straight quarters of single-digit revenue growth. Jefferies analyst Randal Konik expects limited impact from the new CEO until FY2026.
gmx
Sportswear Conglomerate Nike Struggles
Economy
Finance
Nike recorded a 10% drop in sales to $11.6 billion in the Olympic summer. Profit fell 28% to $1.05 billion. Nike wants to counter this with a change of leadership and stronger direct sales, as shelf space in stores has been replaced by competitor products.
tz
Sporting goods conglomerate Nike is struggling
Economy
Finance
Nike, competitor of Adidas, decline in sales and profits in the Olympic summer; management change with former manager Hill; cost-cutting program with job cuts; problems with direct sales and online business; loss of shelf space to competitors.
Frankfurter Rundschau
Sportartikel-Konzern Nike schwächelt
Wirtschaft
Finanzen
Nike, Adidas-Konkurrent, kämpft mit Umsatzrückgang und Gewinneinbruch. Neuer Chef Elliott Hill soll Probleme lösen. Nike startet Sparprogramm mit Stellenabbau.
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