Nike Shares Rise as CEO’s Turnaround Plan Shows Early Signs, But Challenges Remain Nike’s shares climbed 3.4% in volatile after-hours trading following encouraging first-quarter results, as the company managed to reduce excess inventory and saw its wholesale revenues return to growth. The gains offer an early boost for CEO Elliott Hill’s strategy to restore Nike […]
Downloads of Nike mobile apps for the quarter were down 35% from a year earlier, according to market intelligence firm Sensor Tower. Foot traffic at Nike stores was down 11%, according to data compiled by Raymond James. Foot Locker, a major Nike retailer, disclosed in its earnings on March 5 that promotional pressures would hurt […]
The company said on Thursday it was expecting third-quarter revenue to drop to low double digits after the embattled sportswear seller’s quarterly results beat market estimates. Elliott Hill, in his first public address as CEO on the post-earnings call, said Nike had “lost its obsession with sport” and vowed to put it back on track […]
Nike shares closed Friday up more than 15%, hitting a record intraday high; after the sneaker maker forecast full-year sales topping $50 billion; as its North American business rebounds from the lows of the coronavirus pandemic. Also, in greater China sales appear to be improving with Nike management; saying the company is confident about its ability […]
