Nike's CEO Is Out. Here's What Could Happen Next. [Yahoo! Finance]
Nike, Inc. (NKE)
Last nike, inc. earnings: 3/24 04:15 pm
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Source: Yahoo! Finance
The market gave Nike (NYSE: NKE) an enthusiastic thumbs-up last week when it announced the return of longtime executive Elliot Hill to lead the company in a turnaround. Hill left the sporting apparel giant in 2020, but as a longtime Nike veteran, he's well-acquainted with the intricacies of the brand, and his return is inspiring confidence in a rebound . Let's see how this could play out. Losing the sneaker wars Nike's been under pressure for a while, but it got much worse in fiscal 2024 (ended May 31). Fourth-quarter sales were down 2% year over year, and Nike Direct sales dropped 7%. Digital sales were down 10%, while wholesale was up 8%. That gives some insight into consumer behavior right now. Management said it has already invested in its performance products, and that segment has increased by double digits. But the gains were more than offset by pressure in the lifestyle business. It's guiding for a low-single-digit drop in revenue in fiscal 2025, with a high-single-digit
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NKE
News
- Nike (NKE) Gains As Market Dips: What You Should Know [Yahoo! Finance]Yahoo! Finance
- Should NIKE Stock be in Your Portfolio Ahead of Q1 Earnings? [Yahoo! Finance]Yahoo! Finance
- Wall Street's Insights Into Key Metrics Ahead of Nike (NKE) Q1 Earnings [Yahoo! Finance]Yahoo! Finance
- Surprise CEO Shakeup: Nike Brings Back Former President of Its Jordan Brand to Turn the Business Around [Yahoo! Finance]Yahoo! Finance
- Nike Gave A Design Museum Full Access To Their Archives. This Is What Happened. [Forbes]Forbes
NKE
Earnings
- 6/27/24 - Beat
NKE
Sec Filings
- 9/20/24 - Form 8-K
- 9/19/24 - Form 4
- 9/19/24 - Form 4
- NKE's page on the SEC website