Nike news and archive

Nike names Tom Peddie as GM North America

Nike has appointed Tom Peddie as vice president, general manager of North America, succeeding Scott Uzzell, who has decided to leave the business. Peddie’s role will be effective October 21, 2024. “No one is more qualified to lead North America’s next stage of strategic growth, grounded in sport. Importantly, Tom’s outstanding relationships with...

Business

Nike shares hit after withdrawal of FY25 forecast amid weak Q1, CEO change

Shares of Nike Inc. were down around 6 percent in the extended trading on Tuesday on the NYSE and are currently down around 5 percent in pre-market activity after the sportswear giant warned on weak revenues in its second quarter, withdrew its revenue forecast for fiscal 2025, and postponed investor day. The move comes as the company reported...

BusinessFeatured

Nike posts steep revenue decline ahead of CEO transition

For the first quarter, Nike revenues of 11.6 billion dollars, were down 10 percent on a reported basis and 9 percent on a currency-neutral basis. On September 19, 2024, Nike’s board of directors appointed Elliott Hill as president and CEO of the company, effective October 14, 2024. "Nike's first quarter results largely met our expectations. A...

PeopleFeatured

John Donahoe steps down from Nike helm as brand veteran returns

Sportswear giant Nike has announced that its current president and chief executive officer, John Donahoe, has “decided he will retire from his role” as the company names Elliott Hill his successor. From October 14, Hill will take up the dual position for Nike, as well as becoming a member of the executive committee and a director of the board of...

Retail

Could Amazon's return-to-office mandate be a boon to physical retailers?

Amazon's recent announcement mandating a return to office for its corporate employees from January 2025 has received mixed reviews from the technology sector. However, the repercussions of this decision may extend far beyond the confines of Silicon Valley, potentially reshaping the broader retail landscape. The e-commerce behemoth's push for...

Fashion

Discover career opportunities at these exciting fashion companies

The fashion industry is a dynamic and creative sector that is constantly evolving. From design to production and marketing to sales; every stage of the process offers exciting career opportunities. Whether you are a recent graduate or have years of experience, the fashion industry has an array of opportunities where passion and craftsmanship...

Fashion |Marketing Featured

Nike outpaced luxury brands in Olympics earned media

In a striking demonstration of marketing prowess during the 2024 Olympics, Nike has emerged as the clear leader in Earned Media Value (EMV), according to data from WeArisma, an earned media analytics platform. The sportswear giant generated 238.8m dollars in EMV, outperforming high-end fashion houses Louis Vuitton and Dior. Nike's success...

Retail

Foot Locker introduces new basketball concept store in New York

Foot Locker has reopened its New York City 34th Street store with a new basketball-themed concept as part of a partnership with Nike and Jordan Brand. The newly designed store, which rings in the introduction of its ‘Home Court’ retail concept, intends to offer customers a multi-brand basketball shopping destination that blends both on-court and...

Culture

Nike unveils book celebrating women's sportswear

Sportswear giant Nike is releasing a new book in collaboration with Phaidon Press illustrating the power of women’s sportswear and the role it has played in advancing women’s sports over the last 50 years. ‘Look Good, Feel Good, Play Good: Nike Apparel,’ is described as the first book to chart a visual history of women’s sportswear, examining...

Business

Nike halts sales to Türkiye in light of customs changes

Sportswear giant Nike appears to have halted sales via its Turkish website as a response to recent changes to customs regulations in the region. In a statement on the brand’s Turkish website, Nike said: “We continue to review the impact of recent changes to Turkish customs regulations on the shopping experience of our consumers in Türkiye. “As...

Retail

JD Sports and Nike expand connected rewards progams to the US

JD Sports has been named the first global retail partner for Nike’s Connected Membership program as the reward program expands to the US. The extension follows on from JD’s successful launch of Nike’s reward program to the UK as its first European sports retail partner back in September 2022. Following the rollout of the Nike Connected...

BusinessFeatured

Just Can't Do It: Nike's ongoing strategy struggles

Nike, the global sportswear behemoth, is grappling with the aftermath of a series of strategic decisions that have led to significant market value erosion. The company's recent financial results, which saw 25bn dollars wiped from its market capitalisation in a single day, underscore the gravity of its situation. In a detailed analysis on his...