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☆ Nike beats profit estimates, pledges to boost focus on running shoes
  + stars: | 2023-09-28 | by ( Deborah Mary Sophia Katherine Masters | Deborah Mary Sophia | Katherine Masters | ) www.reuters.com   time to read: +3 min
[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 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
☆ A pair of sneakers worn by Michael Jordan just sold for $2.2 million, setting a new world record for the most expensive shoes ever purchased
  + stars: | 2023-04-11 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +4 min
Sneakers worn by Jordan in the 1998 NBA Finals just sold for $2.2 million. The sale set a new world record, topping the $1.8 million paid for a pair of Kanye West's sneakers. On Tuesday, Sotheby's announced the $2.2 million sale of Air Jordan 13 sneakers worn by Jordan during the 1998 NBA Finals. "That sneaker set the market for the sneaker industry. Rares CEO Sapp, who also played in the NFL, added Jordan sneakers tap into a bigger story that continues to resonate across playgrounds and pick-up basketball courts.
☆ How Nike's Air Jordan 1 became — and remained — the most prized lifestyle sneaker
  + stars: | 2022-11-19 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +8 min
Nike on Saturday will release the Air Jordan 1 Chicago "Lost and Found"Some collectors consider it the "most iconic sneaker of all time." "The Air Jordan 1 is the most iconic sneaker of all time," said Jordan Geller, a sneaker collector and former owner of the ShoeZeum who in 2020 sold a pair worn by Jordan for a record $560,000. Michael Jordan wearing the Air Jordan 1 in 1985. AP Photo/Marcio Jose SanchezScarcity, storytelling, collaborations and the "Last Dance"After 1985, The Air Jordan 1 didn't re-release in original specs until 1994. "All of those releases are coveted by sneaker collectors and the 'Lost and Found' Air Jordan 1 will be as well," Geller said.
☆ Nike is about to face its biggest test as sneakerheads pounce on the new 'Lost and Found' Jordan 1, and the brand tries to rebuild trust with fans
  + stars: | 2022-11-17 | by ( Matthew Kish | ) www.businessinsider.com   time to read: +5 min
Nike will release the Air Jordan 1 Chicago "Lost and Found" on November 19. The Air Jordan 1 Chicago "Lost and Found," which will be released November 19, is the latest and biggest test of Nike's work to make drops more fair. "We continue to see Exclusive Access serve as a defining marketing mechanism to connect with consumers," Donahoe said. This weekend's launch of the Air Jordan 1 Chicago "Lost and Found" comes with the latest iteration of Exclusive Access. The company said customers who had lost 20 previous raffles for Jordan 1s on its SNKRS app were eligible for Exclusive Access.
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