Nike has unveiled restructuring plans which will see thousands of employees laid off after demand for its shoes has come under pressure. Some 2% of the sports retailer's global workforce, equating to 1,600 jobs will be cut, Nike revealed late on Thursday. Overall pressure on consumers through higher mortgage and rental prices is said to have hit demand for high-priced goods, in turn dampening wholesale orders for sportswear from retail outlets. The news of cuts comes after Nike laid out a three-year, US$2 b ...

Nike is cutting 2% of its current workforce, or more than 1,500 jobs, as part of a broader restructuring, the company said late Thursday.The Beaverton, Ore. based sneaker giant said it wants to better use its capital to invest in its growth areas, such as running, women's and the Jordan brand."This is how we will reignite our growth," CEO John Donahoe said in a memo obtained by CNBC."This is a painful reality and not one that I take lightly," he added. "We are not currently performing at our best, and I ult ...

Nike Inc. is reportedly looking to cut more than 1,600 jobs, as part of its plan to cut costs so it can create capacity to boost profitability and innovation.The jobs cuts won’t affect employees in stores, distribution centers or those involved in innovation, The Wall Street Journal reported late Thursday, after reviewing an employee memo.The report comes two months after the athletic shoe, apparel and accessories giant NKE, -0.26% said in its second-quarter earnings call that it was targeting $2 billion in ...

In the early 1970s, Nike (NKE -2.03%) was founded and its "swoosh" logo was unveiled. Then in the 1980s, the company signed basketball legend Michael Jordan to a marketing deal and the rest is history. Nike has grown so big and has been so successful that it's one of the most recognizable brands in the world.Likely because of its consumer mind-share, Nike is more than just a popular shoe brand -- it's also a popular stock. But this is a little surprising to me right now. The company most recently reported f ...

About this content About Leo Grieco Leo joins us with a degree in Media Production from Bournemouth University. His work includes reporting for the UK editorial team and video editing for the broadcast team. He comes with an expertise in video editing and producing. Leo’s specialities include hospitality and leisure, support services, tech and video games. Read more About the publisher Proactive financial news and online broadcast teams provide fast, accessible, informative and actionable business and fi ...

Tiger Woods at the practice range on April 5, 2022, before the start of the 2022 Masters at Augusta National Golf Club in Augusta, Georgia.Tiger Woods and TaylorMade have made it official. The golf great has agreed to create a new apparel and footwear performance and lifestyle brand with the Carlsbad, California company following his recent split with Nike.The brand, Sun Day Red, will be available first only online beginning in May. "Life changes and this is important transition and I wanted to have a brand ...

When investors think about apparel stocks to buy, Nike (NYSE:NKE) is on many top 10 lists. At first glance, you could look at Nike stock and see that it’s up 53,000% in the 40 years since it went public. But that doesn’t accurately account for the seven 2-for-1 stock splits that NKE stock has executed in that time. It also doesn’t consider the overall return derived from the company’s dividend which, if it sees an increase in 2024, will mark 22 consecutive years of such growth.Nike is a behemoth that has he ...

ROSLAN RAHMAN/AFP via Getty Images Introduction It's time to discuss a company I have never discussed before. That company is NIKE, Inc. (NYSE:NKE). Although I like its shoes, I'm not necessarily a fan of the industry it operates in. The footwear & accessories industry is highly competitive and often relies on a company's ability to promote its products. As most of my readers know, I like to buy companies that go further up the supply chain to avoid some of these risks. That said, NKE is a beast. With a ...

As one of the largest sports apparel and footwear businesses on the face of the planet, Nike (NKE 0.70%) is well-known not only among customers worldwide but within the investment community as well. Regarded as a blue chip stock, Nike is even included in the Dow Jones Industrial Average.Despite its storied history spanning many decades, shares of this consumer discretionary business haven't been kind to investors. Nike is currently 42% below its peak price, after it tanked 7% in 2023.Before you go rushing t ...

BEAVERTON, Ore.--(BUSINESS WIRE)--NIKE, Inc. (NYSE: NKE) announced today that its Board of Directors has declared a quarterly cash dividend of $0.370 per share on the Company’s outstanding Class A and Class B Common Stock payable on April 1, 2024, to shareholders of record at the close of business March 4, 2024. About NIKE, Inc. NIKE, Inc., headquartered near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for ...