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☆ Nike CEO blames remote work for innovation slowdown, saying it's hard to build disruptive products on Zoom
▼ + stars: | 2024-04-12 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

Nike CEO John Donahoe on Friday blamed remote work for the company falling behind on innovation, saying that it's tough to be disruptive when people are working from home. In an interview with CNBC's Sara Eisen from Paris, Donahoe was asked about the company's lack of fresh new products in its assortment, which had been a concern among investors. "What's been missing is the kind of bold, disruptive innovation that Nike's known for and when we look back, the reasons are fairly straightforward," said Donahoe. "In hindsight, it turns out, it's really hard to do bold, disruptive innovation, to develop a boldly disruptive shoe on Zoom," Donahoe said. So we realigned our company, and over the last year we have been ruthlessly focused on rebuilding our disruptive innovation pipeline along with our iterative innovation pipeline."

Persons: John Donahoe, CNBC's Sara Eisen, Donahoe, What's, it's Organizations: Nike Locations: Paris, Vietnam

☆ Nike CEO says focus on its own website and stores went too far as it embraces wholesale retailers again
▼ + stars: | 2024-04-12 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

Illuminated trademark of the American athletic footwear and apparel corporation Nike, Inc. seen on the Nike Store window in Antwerp, Belgium. The strategy allowed Nike to earn far more from its sales and gain better insights about its customers through data collection. Over the last four years, Donahoe said Nike tripled its mobile and digital business from about 10% of overall sales to 30%. Shifting to a direct model is capital-intensive and saddled Nike with the headaches of returns and owned inventory, which had typically fallen on wholesale partners. On top of that, department stores and specialty shops are massive customer acquisition engines.

Persons: Karol Serewis, John Donahoe, Donahoe, CNBC's Sara Eisen Organizations: Nike, Inc, Getty Images Locations: Antwerp, Belgium, Paris

☆ Nike CEO John Donahoe on 2024 Olympics and launching 'fastest shoe in the world'
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNike CEO John Donahoe on 2024 Olympics and launching 'fastest shoe in the world'John Donahoe, Nike CEO, joins 'Squawk on the Street' to discuss what's new at Nike's Olympic Collection launch, how to use this momentum to reignite growth, and how much of a sales bump the CEO anticipates.

Persons: John Donahoe Organizations: Nike

☆ Watch CNBC's full interview with Nike CEO John Donahoe on the 2024 Olympics and facing competition
▼ + stars: | 2024-04-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Nike CEO John Donahoe on the 2024 Olympics and facing competitionJohn Donahoe, Nike CEO, joins 'Squawk on the Street' to discuss what's new at Nike's Olympic Collection launch, how to use this momentum to reignite growth, and how much of a sales bump the CEO anticipates.

Persons: John Donahoe Organizations: Nike

☆ It might be harder to buy your favorite pair of classic Nikes this year
▼ + stars: | 2024-03-22 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +2 min

The sports apparel brand will instead focus on the Air Max Dn and a new running shoe. The changes come after analysts called Nike's shoe lineup "stale" last year. The Air lineup — a "double-digit billion dollar business," per Donahue — includes shoes that will be worn by athletes competing at this summer's Paris Olympics. AdvertisementDonahue was wearing the new Air Max Dns during the earnings call. Nike is also working on a next-generation version of the running shoe Pegasus, the Pegasus 41, that is slated to be released later this spring.

Persons: Air Max Dn, —, John Donahoe, Dn, Donahue Organizations: Nike, Air Force, Pegasus, Air, Service, Adidas, Footwear Locations: Paris, Europe, China, New York

Nike is cutting 2% of its current workforce, or more than 1,500 jobs, as part of a broader restructuring, the company said late Thursday. Cuts in Nike's EMEA region will be on a different timeline based on local labor laws, the company said. In December, Nike unveiled a broad restructuring plan to cut costs by about $2 billion over the next three years. Shortly before the restructuring was announced, The Oregonian reported that Nike had been quietly laying off employees over the past several weeks and had signaled that it was planning for a broader restructuring. It's not clear how many jobs in total Nike has cut since December.

Persons: Jordan, John Donahoe, It's, Oppenheimer, Donahoe Organizations: Nike, CNBC, The Oregonian Locations: Beaverton , Oregon, EMEA

☆ Singles Day: China’s e-commerce giants try to lure reluctant consumers with ‘truly low’ prices
▼ + stars: | 2023-11-09 | by ( Manav Tanneeru | Laura He | ) edition.cnn.com time to read: +6 min

The Singles Day festival, also known as “Double 11,” was created by Alibaba in 2009 and has turned into a weeks-long shopping bonanza in China. To lure them, e-commerce platforms are offering rock bottom prices this Singles Day. “While the government is looking for solid consumption growth, consumer spending is hampered by both lower household income growth and weak consumer confidence,” said Louis Kuijs, chief Asia economist at S&P Global Ratings. This is a real downgrade in consumption,” the user said, adding she hadn’t yet spent any money during the current Singles Day. “Some promotions are fake,” said another user under the name “Nyanko.” “Merchants have raised prices before cutting them for Singles Day.

Persons: ”, Alibaba, Alibaba’s, JD.com’s, Pinduoduo’s, ” “, Alicia Yap, Zhejiang province Hu Xiaofei, Louis Kuijs, ” Kuijs, Jacob Cooke, “, ” Cooke, Cooke, John Donahoe, Lululemon Organizations: Hong Kong CNN, Companies, Citi, “, China’s, Technologies, Bain and Company, Pinduoduo, Nike, . Company, Starbucks Locations: China, Hong Kong, Beijing, Jinhua, Zhejiang province, Asia

[1/2] A jogger wearing Nike shoes runs along the Charles River in Cambridge, Massachusetts, U.S., March 18, 2019. Nike has also experienced competition from other sneaker brands, including Deckers' (DECK.N) Hoka, On Running (ONON.N) and French-owned sports retailer Salomon, as shoppers gravitate toward "performance" shoes. Nike CEO John Donahoe said the company would turn its attention to "prioritizing the everyday runner" and connecting with shoppers in more channels, including specialty running stores. The company posted total revenue of $12.94 billion in the quarter, missing analysts' estimates of $12.98 billion. Nike reported a profit of $1.45 billion, or 94 cents per share, beating estimates of 75 cents per share.

Persons: Charles, Brian Snyder, Matthew Friend, Friend, Jordan, Salomon, Dylan Dittrich, John Donahoe, David Swartz, Deborah Sophia, Katherine Masters, Shounak Dasgupta, Jamie Freed Organizations: Nike, REUTERS, Air, Jordan, Insights, Morningstar, Thomson Locations: Cambridge , Massachusetts, U.S, Kobe, Bengaluru, New York

☆ Nike misses on revenue for first time in two years, but stock pops as earnings, margins beat
▼ + stars: | 2023-09-28 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +9 min

Nike reported revenue Thursday that fell short of Wall Street's sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG. For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year. During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. Analysts had expected sales to be about $660 million, according to StreetAccount.

Persons: Matthew Friend, They're, John Donahoe, he's, Friend, Jefferies, doesn't bode, It's Organizations: Nike, LSEG, Revenue, Investors, Reuters, Asia Pacific, Converse, Sporting Goods, Footlocker Locations: China, North America, Europe, East, Africa, America, Asia

☆ Nike Air Jordans are losing resale value. Is sneaker culture moving on?
▼ + stars: | 2023-09-27 | by ( Katherine Masters | ) www.reuters.com time to read: +5 min

The famous Nike swoosh and Air Jordan logo is seen on an Air Jordan 1, called "Notorious" released from 1984-1985, during a preview for "The Rise of the Sneaker Culture" exhibit at the Brooklyn Museum in the Brooklyn borough of New York, July 8, 2015. Some investors are concerned the Jordan brand, a major source of sales for Nike, may be "losing steam," Bernstein analysts said on Sunday. The company does not report what percent of its total revenues come from the Jordan brand. Sales of performance shoes from Nike's Jordan brand have also outpaced retro styles, which include Air Jordan 1 high-tops, Donahoe said in June. Donahoe told investors in June that the company had "reset" its running business, highlighting updates to existing styles including its Infinity road running shoes and Pegasus trail running shoes.

Persons: Brendan McDermid, Altan, Jordan, Bernstein, John Donahoe, Salomon, Donahoe, Altan's, Dylan Dittrich, Jessica Ramirez, Jane Hali, Katherine Masters, Deborah Sophia, Josie Kao, Shweta Agarwal Organizations: Nike, Air, Brooklyn Museum, REUTERS, Altan Insights, Nike's Air, Air Jordan, Reuters Graphics, Barclays, Associates, Thomson Locations: Air Jordan, Brooklyn, New York, North America, Jordan, American, U.S, Bengaluru

☆ Cramer: The 4 fears that are upsetting the market and what needs to happen next
▼ + stars: | 2023-09-17 | by ( Jim Cramer | ) www.cnbc.com time to read: +11 min

Nike, under CEO John Donahoe, continued its total dominance that it had under previous leaders Mark Parker and Phil Knight. I really, really like Starbucks CEO Laxman Narasimhan and we are going to see a very strong executive make decisions now that Howard is gone. Apple weakness just casts a pall over everything. We have had weakness in the banks on fears of more regulation and that's only getting worse. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Let's, John Donahoe, Mark Parker, Phil Knight, It's, Armour, Nike's, Locker, Mary Dillon, Kevin Johnson, Howard Schultz, Schultz, Bob Iger, Robert Chapek —, Johnson, Chapek, Laxman Narasimhan, Howard, Gina Raimondo, Apple —, Stellantis, Joe Biden, Shawn Fain, Safra, Marc Benioff couldn't, LEN, Darden, it's, Jim Cramer's, Jim Cramer, Jim, Bill Pugliano Organizations: Nike, Adidas, Armour, Dick's Sporting, China, Disney, Apple, Micron, Qualcomm, Starbucks, United Auto Workers, Detroit, —, Motors, Chrysler, Ford, walkouts, U.S, UAW, Oracle, Marriott, Booking Holdings, Federal, FedEx, KB, Jim Cramer's Charitable, CNBC, General Motors, Big, Getty Locations: China, Europe, American, United States, Oracle's, Detroit , Michigan

☆ Nike investors reject pay equity, human rights proposals
▼ + stars: | 2023-09-12 | by ( Katherine Masters | ) www.reuters.com time to read: +1 min

[1/2] The Nike swoosh logo is pictured on a store in New York City, New York, U.S., September 4, 2018. REUTERS/Carlo Allegri/File Photo Acquire Licensing RightsNEW YORK, Sept 12 (Reuters) - Nike investors voted against two shareholder-led proposals during the sportswear giant’s annual meeting on Tuesday, according to a preliminary tally by the company. One of the resolutions, filed by Massachusetts-based investment adviser Arjuna Capital, called on Nike to provide more data on pay equity for female and minority employees. The company will disclose the final vote tally in a future U.S. Securities and Exchange Commission filing. Arjuna’s resolution on pay equity reporting failed for the second time since 2021 despite backing from proxy advisory firm Institutional Shareholder Services, which in August recommended that investors vote for the proposal.

Persons: Carlo Allegri, Arjuna Capital, John Donahoe, Katherine Masters, Josie Kao Organizations: Nike, REUTERS, U.S . Securities, Exchange Commission, Services, Reuters, Thomson Locations: New York City , New York, U.S, Massachusetts, Cambodia, Thailand

☆ Nike urged to backpay garment workers ahead of annual meeting
▼ + stars: | 2023-09-11 | by ( Katherine Masters | ) www.reuters.com time to read: +3 min

The investors want Nike to provide $2.2 million in allegedly unpaid wages to more than 4,000 workers at two suppliers in Cambodia and Thailand. The investor request could add more pressure to sportswear giant Nike (NKE.N), which is set to hold its annual shareholder meeting on Tuesday. Before the factory's closure in July 2020, Violet Apparel was owned by global textile manufacturer and Nike supplier Ramatex, according to WRC. WRC alleges that Violet Apparel made clothing for Nike as a subcontractor until 2020, citing what it said was testimony from factory workers and photographs taken inside the factory. Nike said it found "no evidence to support the claims" that Violet Apparel made Nike items after 2006.

Persons: John Donahoe, Kees Gootjes, Violet Apparel, Violet, Katherine Masters, Josie Kao Organizations: Nike, Reuters, Canadian, ABN AMRO, Washington, D.C, Workers Rights Consortium, Violet, Violet Apparel, Ramatex, WRC, Apparel, Hong Seng, Thomson Locations: Cambodia, Thailand

☆ Disney's wildest ride: Iger, Chapek and the making of an epic succession mess
▼ + stars: | 2023-09-06 | by ( Alex Sherman | ) www.cnbc.com time to read: +88 min

Iger told Chapek that he lived for those "two-shower days," according to people familiar with the conversation. In January 2020, Iger told Chapek the plan was back on. During his 27 years at the company, Chapek had only attended one annual meeting — as a guest in the audience. Bob Iger, Disney CEO, during a CNBC interview, Feb. 9, 2023. WATCH: Disney CEO Bob Iger's exclusive July 2023 CNBC interviewTake the 'A'During Chapek's tenure as CEO, Disney lost more than a quarter of its market value.

Persons: Elham, Bob Iger, Bob Chapek, Iger, wasn't, Chapek, Michael Eisner, —, who's, he's, Clint Eastwood, Eastwood, Arthur Bochner, Jackie Hart, Kareem Daniel, Chapek —, Eisner, Michael Ovitz, Ovitz, Bob, Disney's, Kevin Mayer, Mayer, Bryan van der Beek, he'd, Tom Staggs, Staggs, Staggs —, Steve Jobs, cajoled Ike Perlmutter, George Lucas, Rupert Murdoch, Iger's, Susan Arnold, Arnold, Peter Rice, David Paul Morris, Rice, CNBC's Julia Boorstin, Mark Parker, Mary Barra, Michael Froman, Willow, Parker, John Donahoe, Roy Disney, Walt Disney, Stanley Gold, David A, CNBC Eisner, Big Bob, Little Bob, Christine McCarthy, Patrick T, He'd, McCarthy, Iger —, Coronavirus, Gavin Newsom, Michael Kovac, curtly, Nancy Pelosi, Chuck Schumer, Ben Smith, Smith, Disney, Randy Shropshire, Agnes Chu, Ricky Strauss, Chu, Strauss, Kevin Feige, Kathleen Kennedy, Who's, Alan Bergman, Bergman, Bob Kyncl, Daniel —, Iger didn't, Daniel rankled, Daniel, Chapek didn't, James Pitaro, Jesse Grant, CNBC Chapek, Jimmy Pitaro, Zenia Mucha, didn't, Mucha, Barbara Walters, Charles Eshelman, Scarlett Johansson, Scarlett Johansson —, Florence Pugh, Natasha, Yelena, " Johansson, Bryan Lourd, Johansson, Lourd, Steven Spielberg, Al Michaels, David Muir, Robin Roberts, Michael Strahan, Spielberg, Geoff Morrell, Alan Braverman, Alan Horn, Jayne Parker, Bochner, Claire Lee, Paul Richardson, Josh D'Amaro, Ron DeSantis, Morrell, Disney Animation —, George Floyd, Reba Saldanha, Reuters Chapek, DeSantis, Nicholas Maldonado, Octavio Jones, Chapek she'd, we're, " Morrell, CNN's Chris Wallace, Kristina Schake, John Skipper, Daniel steamrolled, Latondra Newton, Newton, Charles Krupa, Pitaro, NBCUniversal's Peacock, Dana Walden, Thomas Murphy, Josh Kushner, Privately, Schake, Barack Obama, Michelle Obama, Michelle Obama's, David Dee Delgado, Kara Swisher, hadn't, Netflix's, overhiring, McCarthy hadn't, Safra Catz, Kareem, DMED, Horacio Gutierrez, Justin Warbrooke, Alexia Quadrani, Bryan Castellani, Michael Buckner, Quadrani, Lindsay Lohan, Winnie, Nelson Peltz, Catz, Donald Trump's, they'd, Walden, Gutierrez, D'Amaro, Rich Polk, Walden he'd, Iger she'd, Mickey Mouse, Mark Rightmire, haven't, Indiana Jones, Halle Bailey, Ariel, Hamilton Faber, Rich Greenfield, Bob Iger's, — Mayer, McCarthy —, doesn't, they'll Organizations: Disney, Marvel, CNBC, Bloomberg, Getty, Walt Disney, Indiana University, Michigan State University, Shanghai Disney, Man, Hong Kong Disneyland, Walt Disney Parks, Resorts, Pixar, Fox, Chapek, Nike, General, Mastercard, Foreign Relations, University of Pennsylvania, Grogan, Disney's, Fallon, ABC, ESPN, ABC News, California Gov, New York Times, Disney confidants, Hollywood, Marvel Studios, Lucasfilm, Walt Disney Television, Walt Disney Studios, Hulu, HBO Max, Walt Disney Company, YouTube, Companies, Netflix, Apple, Disney Media, Entertainment, Stanford, Rights, Junior, petulant, Filmmagic, Brunswick Group, Covid, CAA, onetime Defense Department, Century Fox, Human, Florida Gov, Republican, Disney Animation, Reuters, Human Rights, HRC, Walt Disney World, Employees, American Foundation for Equal Rights, AP, Amazon Prime, Paramount, South Pacific, Capital Cities, Dow Jones, CVS, Kingdom, Variety, Trian Partners, Charter Communications, U.S, Comcast, Charter's, MediaNews, Orange, Allen, Co, Candle Media, Advisors Locations: Burbank , California, Midwestern, Brentwood, Los Angeles, Westlake Village, Iger, Hammond , Indiana, Shanghai, China, Hong, Fox, Willow Bay, Raleigh , North Carolina, Orlando, U.S, Hulu, Iger's Brentwood, coronavirus, Brunswick, Hollywood, Hawaii, Disney's, Marvel's, Anaheim , California, Montana, Florida, Rye , New Hampshire, Chapek, Hong Kong, California, missteps, South, DMED, Burbank, New York, India, Atlantic, Sun Valley , Idaho, America

☆ Nike falls for record 10th straight day as Foot Locker woes, China slowdown hit stock
▼ + stars: | 2023-08-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

Nike's stock tumbled Wednesday for the 10th day in a row after Foot Locker reported dismal quarterly results and consumers continue to pull back from the footwear sector. "This became much more evident through the second quarter including a weaker start to back to school. The store traffic and conversion challenges we began to see in late Q1 persisted through the second quarter as our customer remained cautious with their discretionary dollars," she said. China's uneven recovery could also be weighing on Nike's stock. However, it's unclear if that growth is continuing and what the results will look like when Nike next reports earnings.

Persons: Foot Locker, We've, Rick Patel, Raymond James, There's, We're, Foot, Patel, Locker, Mary Dillon, John Donahoe Organizations: Nike, CNBC, Dick's Sporting Goods, StreetAccount Locations: U.S, China

☆ PayPal taps Intuit exec Alex Chriss as its new CEO
▼ + stars: | 2023-08-14 | by ( Bianca Chan | ) www.businessinsider.com time to read: +3 min

Alex Chriss will become the new CEO of PayPal on September 27. Current CEO Dan Schulman announced in February he would retire at the end of 2023. Chriss will come from Intuit, where he is the EVP of small business and self-employed group. Alex Chriss, the executive vice president of small business and self-employed group at Intuit, has been tapped to lead PayPal, the firm announced Monday. The move comes as current PayPal CEO Dan Schulman announced on February 9 that he will retire at the end of the year.

Persons: Alex Chriss, Dan Schulman, Chriss, Schulman, Elliott Management, Intuit's, Alex, John Donahoe Organizations: PayPal, Intuit, Morning

☆ Here's the 7-slide presentation healthcare startup Helpful used to raise $7.5 million for its management program for family caregivers
▼ + stars: | 2023-08-01 | by ( Samantha Stokes | ) www.businessinsider.com time to read: +2 min

Healthcare startup Helpful wants to disrupt the family caregiving industry. Check out the 7-page pitch deck Helpful used to secure $7.5 million from Redesign Health. Helpful launched in July with a 5,000-caregiver waitlist, CEO Wes Donahoe, who was a founder-in-residence at Redesign Health while building the startup, told Insider. Redesign Health is a startup studio that creates, builds, and funds healthcare startups from the ground up. Check out the seven-slide pitch deck Helpful used to raise $7.5 million in seed financing from Redesign Health.

Persons: waitlist, Wes Donahoe, Donohoe Organizations: Health, National Alliance for Caregiving, AARP, Ianacare, Medicare, Senior Health Care, Catalyst, CVS, Aily

☆ Nike's biggest threat is coming from young brands like Hoka and On Running
▼ + stars: | 2023-07-03 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Emerging brands like Hoka and On are beginning to compete against sneaker giant Nike. Analysts say they're concerned Nike's over-distribution is leading to "lifestyle sneaker fatigue." In four years, Hoka and On spent the equivalent of what Nike spends in two weeks. "Running has been a competitive battlefield lately with more and more brands joining the market," Donahoe said, but Nike saw 10% growth for its running footwear business over the past year, he added. "There is no newness coming out of Nike," Sam Poser, an analyst at Williams Trading said earlier this year.

Persons: —, TD Cowen, John Donahoe, Donahoe, Locker, Sam Poser Organizations: sneaker, Nike, Analysts, Service, Williams Trading

☆ Nike CEO John Donahoe on how he manages sleep health in a hectic life
▼ + stars: | 2023-06-30 | by ( Emily Grill | ) www.cnbc.com time to read: +6 min

Donahoe can't get seven hours of sleep every night, but he said that he tries to hit 70 hours of sleep every 10 days. Hitting this target, rather than exactly how much sleep he gets per night, is a sleep science workaround that the Nike CEO says has been working for him. Sleep science research has consistently shown that the average adult should aim for seven hours of a sleep each night. It's not necessarily always going to be the recommended seven hours of sleep that will ensure a good night's rest, according to sleep experts. In the long term, if you don't get enough sleep, there's health outcomes that can occur."

Persons: I've, Elon Musk, CNBC's David Faber, Bill Gates, John Donahoe, Donahoe, It's, Mark Wu, Wu, Gates, Jagdish Khubchandani, Khubchandani Organizations: Nike, CNBC, Summit, Apple Watch, Google, Johns Hopkins University, National Institute for Occupational Safety, Health, United, Blood Institute, Ball State University, New Mexico State University, Ball Locations: America, U.S, China, Santa Barbara , California, United States

For its full fiscal year, Nike's revenue was $51.2 billion, up 10% compared to the prior year. Nike's gross margins fell 1.4 percentage points during the fourth quarter to 43.6%, contributing to the earnings miss. For the last several quarters, Nike has grappled with bloated inventory levels, which have also weighed on its margins. But quarter over quarter, Nike offloaded about $400 million in inventories. Nike has been relying on its wholesale partners to reduce inventory levels.

Persons: Refinitiv, Friend, Matthew Friend, Neil Saunders, Saunders, we're, Macy's, Macy's hasn't, John Donahoe, Donahoe Organizations: Nike, Refinitiv, Nike's Locations: China

In North America, the company's biggest market, still-high inflation has led to consumers buying essential goods and reducing discretionary spending. Sales rose 5% in the region in the fourth quarter, the slowest in four quarters as U.S. wholesalers became more prudent in placing newer orders. Peer Under Armour (UAA.N) forecast annual sales and profit below Wall Street estimates in May due to waning demand and higher discounts. The company expects full-year reported revenue to rise mid-single-digits, compared with analysts expectations of a revenue of a 6.3% rise. The company's fourth-quarter revenue rose to $12.83 billion and beat estimates of $12.59 billion, while earnings per share of 66 cents missed estimates by 1 cent.

Persons: Florence, John Donahoe, Armour, Jane Hali, Jessica Ramirez, Granth Vanaik, Ananya Mariam Rajesh, Sriraj Organizations: Nike Inc, REUTERS, Nike, Wall, Associates, Reuters, Thomson Locations: Beijing, China, North America, Europe, Middle East, Africa, Jessica Ramirez . Greater China, Bengaluru

☆ Nvidia's chips fuel A.I. — here's why the U.S. worries about China's access
▼ + stars: | 2023-06-28 | by ( Lauren Feiner | ) www.cnbc.com time to read: +1 min

Jensen Huang, president and CEO of Nvidia, speaks during the Computex Show in Taipei on May 30, 2017. Nvidia's powerful semiconductors have taken on particular importance as their capacity to fuel artificial intelligence has become increasingly sought after. That's why the Commerce Department is reportedly considering new limits on the export of such chips to China, The Wall Street Journal reported Tuesday. Nvidia had already created a version of the A100, its popular AI chip, that it could sell to the Chinese market. But the new limits reportedly being considered by the Biden administration would restrict even those sales without a license.

Persons: Jensen Huang, what's, authoritarians, Eileen Donahoe, Biden Organizations: Nvidia, Human Rights Council, Stanford, Global, NBC, U.S, Commerce Department, Street Locations: Taipei, China, U.S

The sexism that has prevented girls from competing in sports has also prevented women from becoming youth coaches. In March, Nike launched Coaching HER in a partnership with the University of Minnesota's Tucker Center for Research on Girls & Women in Sport. Fry co-founded the Strong Girls program at the University of Kansas, where young girls are assigned a female college student as their mentor. She says this approach isn't only benefit to girls, but extends to youth athletes of all genders, and female coaches as well. Nike's 20,000 female coach goal Nike is one of the few major companies directly addressing this issue.

Persons: John Donahoe, Mary Fry, Jen Welter, it's, Welter, Vanessa Garcia, Brito, Billie Jean King, Fry, Alison Oliver, … it'd, Kate Mcshane, Christina Collins, Collins, Bob Iger, Florida Governor Ron DeSantis, Donahoe, It's Organizations: Portland Press Herald, Nike, University of Kansas, Aspen Institute's, Olympic, University of Minnesota's, Center for Research, Girls, Sport, Aspen Institute, Tucker Center, Sports Foundation, Youth Sport, Women's Sports Foundation, Getty, Manhattanville College, Target, Disney, Bank of America, CNBC, Summit, Florida Governor Locations: Aspen, London, Hackney, Westchester County, Santa Barbara , California

☆ Nike is shuffling executives and searching for its next 'breakthrough innovation' as unwanted Air Maxes and Air Jordans pile up
▼ + stars: | 2023-05-26 | by ( Matthew Kish | Danni Santana | ) www.businessinsider.com time to read: +5 min

Once-coveted Air Jordans and Air Maxes are now sitting on shelves, with some retro Jordans selling below retail on the secondary market. "Air Max is Becoming Air Min," reads the headline of a report this week from Williams Trading analyst Sam Poser, who downgraded Nike's stock to sell. While numerous analysts remain bullish on Nike, Poser is among those who say Nike needs to ramp up innovation. At its 2017 investor day, Nike announced the Air Max 270. "Nike has lost many senior people throughout the entire company with, now necessary, historical institutional knowledge of Nike," Poser wrote.

Ron DeSantis and Disney , Nike CEO John Donahoe said it's important for corporations to choose their battles, but fight for the values integral to their brands. In response, Donahoe said companies don't need to weigh in on every political kerfuffle but should be a loud voice when their brand's values are under attack. "I think Bob's doing a great job at this," Donahoe said of Disney CEO Bob Iger. "If it's core to who you are and your values, then no, you stand up for your values," he said. "In addition, our core consumer for the Nike brand, the Jordan Brand, the converse brand, are urban Black and brown communities — that's where sneaker culture started," Donahoe explained.

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