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☆ Nike CEO John Donahoe says breaking up with China would be 'disastrous' amid rising geopolitical tensions
▼ + stars: | 2023-05-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

Nike CEO John Donahoe acknowledged geopolitical tensions are rising with China – one of its largest markets – but said decoupling from the region would be "disastrous" for global trade. During a sit-down interview at the inaugural CNBC CEO Council Summit in Santa Barbara, California, on Monday evening, CNBC's Sara Eisen asked Donahoe about the threat of China invading Taiwan and Beijing's position in Russia's war with Ukraine. Eisen asked Donahoe. In response, Donahoe said risk is everywhere for companies like Nike that operate on a global scale. "If you're a global company, you've got to just accept that and try to steer a course that is consistent with your strategy and consistent with their values," said Donahoe.

☆ House China committee targets top clothing brands in forced labor inquiry
▼ + stars: | 2023-05-03 | by ( Chelsey Cox | ) www.cnbc.com time to read: +3 min

A shopper carries a bag of Nike merchandise along the Magnificent Mile shopping district on December 21, 2022 in Chicago, Illinois. WASHINGTON — A House committee examining the U.S. government's economic relationship with China is asking some of the world's largest clothing companies for information about the use of forced labor during production — a potential violation of U.S. trade law. Lawmakers asked retailers Temu, Shein, Nike and Adidas North America about the use of materials and labor sourced from the Xinjiang Uyghur Autonomous region of China, according to letters sent to company leaders on Tuesday. Such practices would constitute violations of the 2021 Uyghur Forced Labor Prevention Act, according to the lawmakers. The inquiries also follow a March hearing of the committee that included an expert assessment finding that U.S. companies finance "state-sponsored forced labor programs in the Uyghur region."

☆ Here's how much money you'd have if you invested $1,000 in Nike 10 years ago
▼ + stars: | 2023-03-23 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +1 min

The retailer reported revenue of $12.4 billion for its third fiscal quarter of 2023, beating analysts' predictions of $11.47 billion, according to Refinitiv consensus estimates. Additionally, the company reported that revenue rose 14% compared with the year-earlier period. This has included increasing its digital sales, building experiential stores and bolstering its loyalty program. Nike Direct, the company's direct-to-consumer brand, sales rose by 17% during the holiday quarter to $5.3 billion, according to its quarterly report. Nike Brand Digital sales were up 20%.

☆ Nike outruns its competitors
▼ + stars: | 2023-03-22 | by ( ) www.reuters.com time to read: +2 min

Its challenges include unsold goods it has to shift, an 8% drop in year-on-year sales in China, and falling gross profit margins. Nike is nonetheless in a relatively enviable position. Nike is also sporting a five-year total shareholder return of 105%, where Adidas and Under Armour’s are both negative. Even with blips, that shows it has been a better long-term run for investors. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Is this the sneaker Gen Z has been asking for? Nike seems to think so.
▼ + stars: | 2023-03-21 | by ( Danni Santana | ) www.businessinsider.com time to read: +2 min

Nike is set to release the Air Max Pulse next week, a brand new addition to the Air Max franchise. A closer look at the Nike Air Max Pulse NikeThe Air Max Pulse has large air bubbles on the midsole of the shoe, similar to the Air Max 270, and draws from London's music scene, according to Nike. The new Air Max Pulse will release on Air Max day March 26, alongside the much-anticipated return of the Air Max 1 '86 "Big Bubble." Air Max day marks the anniversary of the first Air Max release in 1987. Nike has a large catalog of classic Air Max sneakers released over the years, including the Air Max 97s, Air Max 95s, and Air Max 90s.

☆ Nike CEO highlights direct-to-consumer strategy the day after the company's big Foot Locker announcement
▼ + stars: | 2023-03-21 | by ( Matthew Kish | ) www.businessinsider.com time to read: +2 min

The report came a day after Foot Locker announced a "revitalized" wholesale partnership with Nike. Despite Foot Locker's announcement, Nike CEO John Donahoe touted the success of Nike's DTC approach. On Tuesday, Nike CEO John Donahoe moved to turn the attention of investors back to Nike's direct-to-consumer approach. In 2020, Nike announced Consumer Direct Acceleration, a business plan focused on direct, digital sales. On Monday, Foot Locker CEO Mary Dillon noted the sneaker chain had renewed its relationship with Nike.

☆ Nike's holiday quarter plagued by bloated inventory, weak China sales
▼ + stars: | 2023-03-21 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +4 min

While Nike CEO John Donahoe told investors last quarter he believes the company is past its inventory peak, the company warned gross margins were expected to take a hit during the holiday quarter. During an earnings call with investors Tuesday, executives said they're "increasingly confident" Nike will exit the fiscal year with healthy inventory levels. They also expect to see "even leaner inventory" than they'd anticipated given sales momentum, the executives added. Citing its strong performance in the quarter, Nike now expects fiscal year revenue to grow by high single digits, compared to mid single digit guidance it gave in the prior quarter. In the next quarter, Nike expects flat to low single digit revenue growth.

☆ Foot Locker touts a renewed partnership with Nike — but it still won't get the hottest sneaker releases
▼ + stars: | 2023-03-20 | by ( Matthew Kish | Danni Santana | ) www.businessinsider.com time to read: +4 min

Even so, don't expect to see more of the hottest Nikes and Jordans at Foot Locker stores. The Foot Locker CEO, sporting gold Nike Air Max 97 sneakers, announced a renewed partnership with Nike at the company's investor day, addressing one of the core analyst questions facing the sneaker retailer. Mary Dillon started as Foot Locker CEO in September. Mary DillonSpeculation had been building about Foot Locker and Nike working more closely together again since December when Nike CEO John Donahoe mentioned spending time with Dillon on a Nike earnings call. As part of its new strategy, Foot Locker wants to double sales of non-Nike brands, such as Hoka On, and Crocs by 2026.

☆ Foot Locker touts 'renewed' Nike relationship as it reports slide in holiday-quarter profit
▼ + stars: | 2023-03-20 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +3 min

Foot Locker plans to open dozens of Power stores across the U.S. over the next few years. Foot Locker CEO Mary Dillon on Monday touted a "renewed" and revitalized relationship with Nike , including an emphasis on what she called "sneaker culture." Shares of Foot Locker rose about 4%. Dillon, the former chief executive of Ulta, said Foot Locker and Nike have "re-established joint planning, as well as data and insight sharing." "The fruits of our renewed commitment to one another will begin to show up in holiday this year as we build increasing momentum to 2024 and the 50th anniversary of Foot Locker," Dillon said.

☆ Big changes at the top of Nike as the company shakes up its technology, diversity, Asia, and women's departments
▼ + stars: | 2023-03-14 | by ( Matthew Kish | ) www.businessinsider.com time to read: +7 min

Amy MontagneNew job: Vice president and general manager of Nike's women's businessOld job: Vice president and general manager of Asia and Latin AmericaMontagne is an 18-year Nike veteran who previously worked for nine years for the Gap. Cathy SparksNew job: Vice president and general manager of Asia and Latin America (She succeeds Montagne.) Whitney MalkielNew job: Malkiel decided to leave the company, Nike said in a press release in early March. James LoducaNew job: Chief diversity, equity, and inclusion officerOld job: Vice president of inclusion, diversity, equity and accessibility, TwitterNike internally announced Loduca's appointment on Tuesday. Fusselman previously worked as a vice president of information security engineering for Mastercard, according to his LinkedIn profile.

☆ Nike and Adidas bet big on DTC over the past few years, but now both brands are pushing back into stores
▼ + stars: | 2023-03-10 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

For the past several years, Nike and Adidas focused on direct sales. In December, Nike reported quarterly earnings that showed its wholesale business grew faster than its direct business. Since 2017, Nike's direct business has grown 106%, and its wholesale business has grown 11%. "The business model going forward, surprise, surprise, of course, will be more service-oriented towards wholesale," Gulden said on a subsequent call with analysts. "But I think the way we go to market, I think it will be more wholesale first and then (direct sales) afterwards."

☆ 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.

☆ Leaked audio: Nike tech team meets after top exec's sudden departure. VP stresses focus on digital transformation, notes 'challenging environment and economy.'
▼ + stars: | 2023-02-21 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Ratnakar Lavu, Nike's top technology executive, has resigned, effective immediately. 2 technology executive hosted a call after Nike announced Lavu's departure. 2 technology executive on Monday hosted an all-hands video call with the company's technology workforce shortly after the announcement of the sudden resignation of Ratnakar Lavu, the company's top technology executive. On the call, Eugene Cook, Nike's vice president of technology operations, encouraged the company's workforce to finish the fiscal year strong. In a one-sentence statement to Insider, Nike said Lavu is "no longer at Nike," and did not provide additional information about his departure.

☆ Meet the 'zillennials,' who grew up online, live with their parents, and have retailers chasing their disposable income
▼ + stars: | 2023-01-17 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +3 min

'Zillennials' are the consumers at the cusp of the millennial and Gen Z generations. As many as 48% of zillennials live with their parents, meaning they don't pay a mortgage or rent. That means that a large share of young consumers aren't paying for rent or a mortgage. Add that to their steady income and the fact that they grew up on the internet, and zillennials are becoming savvy shoppers with plenty of disposable cash. Morgan Stanley analysts wrote recently that young consumers living with their parents are helping to fuel the luxury boom because they're saving on bills and necessities like groceries.

☆ Nike is going all in on luxury-obsessed Gen Z
▼ + stars: | 2023-01-15 | by ( Danni Santana | Matthew Kish | ) www.businessinsider.com time to read: +3 min

Nike CEO John Donahoe on CNBC this week said the company is focused on Gen Z in China. But some sneaker brands like Nike are deliberately targeting Gen Z and their supposedly frivolous spending habits to help bolster sales. The semiannual Piper Sandler survey of teenagers, which includes Gen Z, shows Nike and its Converse brand, and rival Adidas, atop the footwear category in the US. "I think that the buying power of our customer is much higher than it used to be," Schultz told reporters, referring to Gen Z. Meanwhile, Anta in mid-2021, announced a five-year strategy that includes focusing on Gen Z.

☆ Nike faces 3 obstacles that could threaten its dominance
▼ + stars: | 2023-01-14 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

New Adidas CEO Bjørn Gulden could reinvigorate the rivalry with Nike. Top of mind with stock pickers: Nike needs to shed inventory and get sales growing more in China. Where is the next leg of growth going to come from? Before the December earnings report, Simeon Siegel, managing director for equity research at BMO Capital Markets, told Insider Nike appeared to be turning a corner in China. Analysts also think new Adidas CEO Bjørn Gulden, who previously worked as CEO of Puma, could reinvigorate the rivalry with Nike.

☆ Nike CEO on economy, China market, state of consumer and company outlook
▼ + stars: | 2023-01-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNike CEO on economy, China market, state of consumer and company outlookJohn Donahoe, Nike CEO, joins 'Closing Bell' to discuss the economy, company outlook, China's reopening and the state of the consumer.

☆ Nike CEO touts strength in Gen Z China shopper as Covid disruptions dent regional sales
▼ + stars: | 2023-01-12 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +3 min

Nike CEO John Donahoe said Thursday the company is "really focused" on Gen Z consumers in China and that the athletic apparel retailer is continuing to see strong demand in the region, even amid Covid-related disruptions. We're really focused on the Gen Z consumer in China, we saw a very good response from the Gen Z consumer who wants the most innovative products and wants brands that are globally relevant," Donahoe told CNBC's "Closing Bell." "We factored in some disruption in our outlook, but we view that as transitory, we still believe in the fundamentals of China," said Donahoe. "The consumer is still paying list price for the Nike products that they know and love. Nike has invested heavily in its direct-to-consumer strategy, but Donahoe glossed over that focus on Thursday and said wholesalers remain "very, very important" to Nike.

☆ 3 reasons why Nike's ex-CEO is what Disney needs right now
▼ + stars: | 2023-01-12 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

At Nike, Parker engineered the company's direct-to-consumer push. During his 14 years as Nike CEO, the company's revenue nearly tripled. In 2017, as Nike CEO, Parker introduced the Consumer Direct Offense, an aggressive direct-sales push that's been a winner with Wall Street, although frustrating some on Main Street. While he was Nike CEO, Parker frequently used the phrase "always on the offense" to describe the company's aggressive approach to growing sales and market share. The company's stock climbed more than 760% during his CEO tenure, far exceeding the market.

☆ There's one big problem with Nike's plan to sell sneakers directly to consumers — they still love to shop at Foot Locker and Dick's
▼ + stars: | 2023-01-10 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Since then, Nike's direct business has doubled, while its wholesale business has been flat. Last quarter, Nike's wholesale business at stores like Foot Locker grew faster than direct sales. In North America, wholesales increased 37%, while direct sales increased 23%. Since 2017, Nike's direct sales increased 106% to $18.7 billion, according to its last annual report. Nike's wholesale business now accounts for a little over half of sales, down from 72% in 2017.

☆ Finding Nikes in stores will get a lot harder in 2023 and that could give rivals like Hoka and Hey Dude a big boost
▼ + stars: | 2022-12-28 | by ( Matthew Kish | ) www.businessinsider.com time to read: +5 min

"They just entered Foot Locker over the summer and are only in a small slice of their massive store footprint. Nikic said On and Hey Dude could follow similar trajectories next year. In a recent note, Williams Trading analyst Sam Poser said Hey Dude could hit $1 billion in fiscal year 2022 sales. Poser recently met with the management of Crocs, which bought Hey Dude this year. "This quarter, we spent a lot of time with Mary Dillon and her team at Foot Locker," Donahoe added.

☆ 3 things that should be worrying Nike
▼ + stars: | 2022-12-26 | by ( Matthew Kish | ) www.businessinsider.com time to read: +4 min

New Adidas CEO Bjørn Gulden could reinvigorate the rivalry with Nike. Top of mind with stock pickers: Nike needs to shed inventory and get sales growing more in China. Analysts are also wondering how much competition Nike will face from Adidas under its new CEO Bjørn Gulden. Before the December earnings report, Simeon Siegel, managing director for equity research at BMO Capital Markets, told Insider Nike appeared to be turning a corner in China. Analysts also think new Adidas CEO Bjørn Gulden, who previously worked as CEO of Puma, could reinvigorate the rivalry with Nike.

☆ Under Armour names Marriott veteran Linnartz as CEO to boost e-commerce
▼ + stars: | 2022-12-21 | by ( Ananya Mariam Rajesh | ) www.reuters.com time to read: +2 min

[1/2] Stephanie Linnartz, President of Marriott International speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 4, 2022. REUTERS/Mike BlakeDec 21 (Reuters) - Under Armour Inc (UAA.N) on Wednesday named veteran hotelier Stephanie Linnartz as its chief executive, betting that her experience in e-commerce and branding strategy will help revive sales at the apparel maker. Linnartz currently serves as president of Marriott International Inc (MAR.O) and has been with the hotel chain operator in various roles for the last 25 years. Interim CEO Colin Browne will resume his responsibilities as chief operating officer, Under Armour said in a statement. Linnartz will receive a base salary of $1.3 million per year and a one-time sign-on cash bonus of $375,000.

☆ Nike shares surge as inventory challenges start to abate, demand stays strong
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

At least 12 brokerages raised their price targets on the stock after Nike reported better-than-expected quarterly results on Tuesday, benefiting from higher discounts and strong demand in North America. While Nike's quarterly inventory declined about 3% from the prior quarter, margins fell 300 basis points due to higher promotions and discounts. Still, the decline was smaller than expected, according to analysts, thanks also to higher-priced product launches such as the LeBron 20s and Nike Mercurial shoes. "Nike offered promotions, but at the same time, they also pushed for new product without the promotion," said Jane Hali & Associates analyst Jessica Ramirez. Reporting by Aishwarya Venugopal and Deborah Sophia; Additional reporting Ananya Mariam Rajesh in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

☆ Nike just got the biggest sign yet that its master plan is working
▼ + stars: | 2022-12-21 | by ( Matthew Kish | ) www.businessinsider.com time to read: +3 min

Since 2017, the company has been focused on growing direct and digital sales, a plan that accelerated in 2020 under CEO John Donahoe. Although skeptics remain, Tuesday's earnings report included sizable increases in digital and direct sales, suggesting the plan is working. For the three months ended November 30, direct sales, including in Nike stores and on Nike apps, increased 16%. In recent years, Nike also cut ties with about 50% of its wholesale partners in order to drive more shoppers to Nike stores and apps. Three months ago, Nike reported a 44% increase in inventory.

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