Latest Developments Nike – Page 5
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ArticleStockX claims Nike lawsuit mischaracterizes Vault NFTs
On March 31, StockX published a revision of its previous statement, from Feb. 8, on Nike’s lawsuit – filed on Feb. 3 – over the collectibles-trading company’s so-called Vault NFTs. Both statements are available online. StockX began as a marketplace for second-hand collectible items, notably sneakers, with an authentication service ...
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ArticleWNBA player Breanna Stewart and eBay show trailblazer sneaker collection
Whether it’s signature sneakers for women basketball players, boots for women soccer players, or in other sports, there are few professional women athletes who can call a signature shoe their own. Rather, female designers or artists get a shoe named after them. Basketball player Breanna Stewart got her own signature ...
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ArticleNike encouraged by China, digital momentum as golden anniversary looms
Nike, Inc., which will commence its 50th anniversary in May, exceeded its latest guidance for revenues and diluted earnings per share in the third quarter ended Feb. 28, despite persistent product transit woes into its home North American market and marketplace demand that exceeded the available supply. Net sales grew ...
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ArticleRussian footwear market faces a crisis
The Russian market is braced for major turbulence after dozens of footwear brands pulled out of the country following the Russian invasion of Ukraine and the subsequent introduction of international sanctions. Adidas, Nike and Puma have joined the long list of international brands that have quit the country’s market, along ...
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ArticleFoot Locker shares take hit on waning Nike product assortment
Foot Locker’s share price fell by $12.30, or 29.7 percent, on Friday after the retailer told investors that its allocation of key Nike products would decline this year to no more than 55 percent of its overall merchandise assortment by the fourth quarter, adding that its 2022 outlook will fall ...
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ArticleNike sues StockX, and explores the nature of NFTs
The age-old philosophical debate over the nature of simulacra has found new life in new forums: the metaverse, where big brands have been recreating their products in virtual form, and the courts, where those same brands are now clashing with other business entities over the realities, virtual and other, of ...
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ArticleNike among investors in U.S. women’s basketball
Nike announced that it has joined other backers in investing in the U.S. Women’s National Basketball Association (WNBA). The total investment by all parties is $75 million, making it the largest capital raise to date for a women’s sports organization. In addition to Nike, which has been a commercial partner ...
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ArticleNike reviews changes in its distribution apparatus
On Jan. 19 Nike published a run-down of the changes it has made to its supply chain since mid-2020, when “consumers across all segments immediately shifted to digital engagement.” The company refers to this digital direct-to-consumer (DTC) operation as the “Sole Train” – no doubt a punning reference to Soul ...
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StockX reviews the collectibles market in 2021
The collectibles-trading platform StockX has released an annual report, titled Big Facts: Current Culture Index: 2022, that breaks down its key markets – notably sneakers, but also electronics, toys and apparel – for the elapsed year 2021. Jordan remained the best-selling sneaker brand, with items trading at an average premium ...
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ArticleNike beats Q2 estimates on strong North American showing
The Nike group reported higher-than-expected earnings and sales in the second quarter ended Nov. 30, as a strong performance in North America offset a continued slowdown in China and persistent, industry-wide supply chain challenges. In the quarter, Nike’s sales inched up by one percent to $11,357 million and were flat ...
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ArticleNike acquires a London-based digital assets producer, RTFKT
Nike has acquired RTFKT (pronounced “artifact”), which the sportwear giant describes in its press release as delivering “next generation collectibles that merge culture and gaming.” The terms of the deal will not be disclosed, said NIke. Founded as a company as recently as January 2020 – by Benoit Pagotto, ...
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ArticleNike cuts guidance as supply chain woes worsen in Q1
The Nike group cut its guidance for fiscal year 2022 despite strong consumer demand, as it warned of inventory shortages over the next few quarters in the face of continuing supply chain headwinds that already took their toll on its sales performance in the first quarter ended Aug. 31. Nike’s ...
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ArticleWhile opening another franchise in Spain, Nike works with fewer retailers
Last year Nike made Italy’s Percassi Group its preferred partner in southern Europe, opening six stores with the Italian firm in Greece, Italy and Portugal as well as a flagship on a major thoroughfare in Barcelona, Paseo de Gracia. According to Palco23, a Spanish news service covering the sports business, ...
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Extended Covid Restrictions in Vietnam are hitting companies hard
Nike and other companies are expected to suffer considerable damage from a decision by Vietnamese authorities to extend their strict Covid-19 restrictions in the Ho Chi Minh City region until the end of the month. They were originally scheduled to be lifted on Sept. 15, but the measures taken so ...
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ArticleNike and Newlight collaborate to research carbon-negative material
Nike and California-based Newlight Technologies have announced a partnership to explore the use of AirCarbon, an energy storage material, in a variety of applications within Nike’s supply chain and manufacturing. According to a press release, the collaboration is part of Nike’s plans to accelerate its carbon reduction plans, as materials ...
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ArticleCovid outbreak closes major factories in Vietnam
A sudden and violent outbreak of the Covid-19 epidemic in Ho Chi Minh City (HCMC) and its environs is expected to delay shipments of sports shoes and apparel and may result in a loss orders for local manufacturers, according to the local NV Express, which cited the shutdown of 29 ...
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ArticleNike loses a legal round in Dutch tax probe
The General Court of the European Union in Luxembourg has dismissed an appeal by the Nike group against the investigation launched by the European Commission in January 2019 into the favorable tax treatment granted to the group by Dutch tax authorities to the European entities of Nike and Converse, and ...
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ArticleSporting goods stocks jumped by 26.65% in Q2
The average share price of the sporting goods sector grew by 26.65 percent between March 31 and June 30, accelerating from the 10.9 percent growth recorded in the first three months of this year. As usual, the public companies in this sector scored much better than all the major stock ...
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ArticleNike beats expectations as EMEA, North America sales surge and China resists
The Nike group posted better-than-expected results for the fourth quarter ended on May 31, 2021, as sales nearly doubled as compared to a year earlier, when its performance was severely impacted by store closures tied to the Covid-19 pandemic. After the release of higher-than-expected results for the quarter, Nike’s share ...
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Updated: Nike performs much better than estimated
A few hours before the release of Nike’s results at 10:15 PM CET yesterday, 24 out of 30 financial analysts were recommending that its shares should be purchased, according to the Wall Street Journal, giving an average price target of $163.34 against a current stock market price of around $134 ...
