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☆ Nike CEO John Donahoe comes under fire from Wall Street after lackluster performance
▼ + stars: | 2024-06-28 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

As Wall Street digested the dismal outlook from the world's largest sportswear company, at least six investment banks downgraded Nike's stock. Analysts at Morgan Stanley and Stifel took it a step further, specifically calling the company's management into question. The company also said it expects fiscal 2025 sales to be down mid-single digits when it previously expected them to grow. If you ask Phil Knight, Nike's founder and its chairman emeritus, Donahoe is doing just fine. "I am optimistic in Nike's future and John Donahoe has my unwavering confidence and full support."

Persons: Jim Duffy, Morgan Stanley, Stifel, Donahoe, Matt Friend, That's, Hoka, Jessica Ramírez, Jane Hali, Nike didn't, they've, Kevin McCarthy, Neuberger Berman, CNBC's Scott Wapner, " McCarthy, They've, you've, it's, he's, Phil Knight, John Donahoe Organizations: Nike, eBay, Air Force, Air, Associates, CNBC Locations: 2HCY25, China, …, U.S

☆ Nike's aggressive use of noncompetes is stifling hiring at rivals and startups sneaker brands, insiders say
▼ + stars: | 2023-03-18 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

President Biden and the FTC want to get rid of noncompete agreements. Some former Nike workers remain subject to them. The same could be said of sportswear workers in Portland, Oregon. The same day Biden spoke to the nation, at least three former Nike workers were waiting for their noncompete agreements to end, according to a search of LinkedIn profiles. In sportswear, noncompetes have historically been used to guard industry secrets, which brands fight to protect.

☆ Nike's use of noncompetes threatens to stifle hiring at rivals and startup sneaker brands
▼ + stars: | 2023-03-10 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

☆ Nike taps Twitter's former head of diversity as next chief DEI officer
▼ + stars: | 2023-03-07 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

He previously worked as Twitter's vice president of inclusion, diversity, equity and accessibility. He most recently worked at Twitter as vice president of inclusion, diversity, equity and accessibility. "Diversity, equity and inclusion (DEI) continue to be top priorities for Nike, Inc.," said Chief Human Resources Officer Monique Matheson, in an email to employees announcing Loduca's hiring. Sam succeeded Felicia Mayo, who left the company in June 2020 after two years as chief talent, diversity and culture officer. Mayo succeeded Kellie Leonard, who stepped down as chief diversity and inclusion officer in 2020.

☆ Judge nixes Nike's attempt to close the courtroom as key details are discussed in lawsuit filed by former NFL player Odell Beckham Jr.
▼ + stars: | 2023-03-02 | by ( Matthew Kish | ) www.businessinsider.com time to read: +6 min

The judge declined Nike's request. After the judge declined Nike's request to close the courtroom, attorneys for Nike and Beckham argued for roughly 90 minutes about the motion to dismiss. In the lawsuit, Beckham claims damages of $20.6 million. NikeBroadly, Suh argued that Beckham breached the contract by, among other things, wearing custom Nike cleats that weren't available for purchase. "Mr. Beckham personally undertook to obtain customized Nike cleats that would not clash with the Rams uniforms," his attorneys wrote in the lawsuit.

☆ Nike is facing a wave of retail crime across the country
▼ + stars: | 2023-02-23 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

In an email sent to Portland officials, the company said it's at a "critical juncture." On Tuesday, police in Napa arrested a man for attempting to steal from a local Nike store after police were made aware of a retail theft crew targeting Nike stores, according to local news reports. Nike has 344 US stores, including outlet and Converse stores, according to its last annual report. In a letter sent to Portland officials this month, Nike said the "safety of our employees and consumers is a responsibility Nike takes very seriously. Insider obtained Nike's letter to the city and the internal email among city officials through a public records request.

☆ Here are 7 fun details that you might miss in the trailer for 'Air,' the Ben Affleck and Matt Damon movie about Nike signing Michael Jordan
▼ + stars: | 2023-02-09 | by ( Matthew Kish | ) www.businessinsider.com time to read: +6 min

The movie stars Ben Affleck as Nike cofounder Phil Knight and Matt Damon as Nike executive Sonny Vaccaro. In the trailer, Knight's character, played by Ben Affleck, responds to hearing the "Air Jordan" name for Michael Jordan's line of footwear and apparel. Knight's office is filled with booksIn the trailer, there are numerous books on the shelves in Knight's office. Phil Knight's 'rumpled' clothesIn three scenes in the trailer, Knight's character wears a wrinkled suit with the necktie pulled loose. He had a garage full of raw rubber, got some and put it on his wife's waffle iron," Knight said.

☆ A Nike exec says a phisher stole his NFTs. Here are 3 things everyone should do to protect a digital wallet
▼ + stars: | 2023-01-23 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

In a tweet, Gopalani said the phishers stole his Clonex NFTs and some other digital collectibles, including some "Cryptokicks." Decrypt, a publication that covers web3, estimated the stolen NFTs were worth $173,000. Don't keep your digital assets in one place. Hardware wallets store keys to digital assets offline, making them inaccessible to cyber thieves. There's a growing suite of tools for digital assets, too.

☆ Nike lifts Covid mandate, igniting harsh criticism from employees on both sides of the vaccine debate
▼ + stars: | 2022-10-24 | by ( Matthew Kish | ) www.businessinsider.com time to read: +5 min

"When our vaccination policy was implemented, vaccination was critical in preventing community spread," he added. Nike employees were overwhelmingly in favor of the vaccine mandate. 'Not sure where this leaves those of us who were fired only months ago'It's unclear how many people Nike terminated for not complying with its vaccine mandate. A group called the Health Freedom Defense Fund is suing Disney over its vaccine mandate, which like Nike's, required vaccination as a condition of employment. Companies have the broad authority to mandate vaccines in their workplace, according to Dorit Rubinstein Reiss, a UC Hastings law professor, and vaccine policy expert.

☆ Nike is aggressively opening new stores as it pushes forward on its plan to sell directly to consumers. Wall Street isn't sold on the strategy.
▼ + stars: | 2022-09-26 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

The stores are popping up all over the US and significantly increase Nike's store footprint. At the time of the filing, the company had 209 clearance stores and 48 full-price stores. The other 87 Nike stores were for its Converse brand. Even much smaller competitors, such as Allbirds, operate nearly as many full-price stores, roughly 35, as Nike does. Nike's new stores opening in the US and Europe appear to be a mix of the recently introduced Live and Unite formats.

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