Latest news with #Jordans
Yahoo
14 hours ago
- Business
- Yahoo
Nike Rounds Out Management Team With New Head of Communications
Nike has reached through the Golden Arches for its next head of communications. On Monday, the sports giant named Michael Gonda, former chief impact officer for North America at McDonald's, to become its executive vice president and chief communications officer. He will assume the position formerly held by KeJuan Wilkins, who left Nike in March, about six months after Elliott Hill became chief executive officer. More from WWD Supreme and Nike Spruce Up Their Air Force 1 With Leopard Print Pony Hair Costume Designer Tanja Caldwell Talks Keisha and Justin's Love for Sneakers and Jordans on Netflix's 'Forever' Is the Dirty Sneaker Trend Washed Up? Wilkins reportedly resigned for personal reasons and Gonda will officially join Nike on July 7 and report to Hill. In this position, Gonda will lead global communications for Nike, overseeing all facets of the communications strategy, including storytelling, corporate and brand reputation, issues management, and employee engagement. He will also become a member of the company's senior leadership team. This rounds out Hill's executive team that will be charged with moving the company forward, according to sources. The leadership team includes Venkatesh Alagirisamy, chief supply chain officer; Thomas Clarke, chief growth initiatives officer; Muge Erdirik Kogan, executive vice president and chief technology officer; Matthew Friend, executive vice president and chief financial officer; Nicole Graham, chief marketing officer; Treasure Heinle, executive vice president and chief human resources officer; Rob Leinwand, executive vice president and chief legal officer; Phil McCartney, executive vice president and chief innovation, design and product officer; Ann Miller, executive vice president of sports marketing; Amy Montagne, president of Nike, and Craig Williams, president of geographies and marketplace. 'Michael is a deeply strategic, emotionally intelligent, purpose-driven leader who understands the power of storytelling to move both brands and people,' said Hill. 'His vision for driving impactful communications, his instinct for building high-performing teams, and his ability to form authentic connections will help Nike amplify the voice of sport and athletes around the world in bold and meaningful ways. I'm confident he's the right leader for us as we put Nike back at the center of sport, and our team is excited for the vision and leadership he brings.' At McDonald's, Gonda also served as chief communications officer, where he was in charge of communications, public affairs, sustainability, community engagement and philanthropy for the company's largest markets. He also served on the global senior leadership team for that company. 'Nike has always been more than a brand — it's a storyteller, a cultural force, and a catalyst for belief,' said Gonda. 'I'm deeply honored to join a company that has shaped how people see themselves and the world around them, and am humbled to help Nike tell the stories that matter, connect even more deeply with athletes and communities, and write the next ambitious chapter with Elliott and this team.' Prior to McDonald's, Gonda held senior leadership positions at Chobani and communications agency Weber Shandwick. He is an avid runner and has lived across the U.S. as well as in Kenya and China. Gonda's appointment is just the latest change at the sports brand. Last week the company said that its head of innovation, John Hoke, would be retiring from his position. Just weeks before that, it said Heidi O'Neill, president of consumer, product and brand, would also be exiting. Hill was lured out of retirement to rejoin Nike last October and has been instrumental in orchestrating massive changes within the organization, ranging from the executive team to distribution and pricing. In the company's third-quarter earnings call in March, Hill was vocal about how Nike needs to be more innovative and also reduce the amount of product available in the market. During the call, he said Nike's new priorities will be centered around five fields of play: running, basketball, football, training and sportswear; three countries: the U.S., China and the U.K., and five cities: New York, Los Angeles, London, Beijing and Shanghai. The company also revealed that it was returning to Amazon after a six-year hiatus and would be raising prices on both footwear and apparel in response to tariffs. These major moves are an answer to criticism that Nike had lost its edge to competitors such as Hoka and On, particularly in the footwear space. While the company is making some progress, there's still a lot of work to do. Net income in the third quarter was $794 million, down 32 percent from $1.2 billion in the year-ago period. Net sales in the period were $11.3 billion, down 9 percent from $12.4 billion, on a reported basis, compared to the prior year. Best of WWD EXCLUSIVE: Maje Names Charlotte Tasset Ferrec CEO Nadja Swarovski Exits Family Company Amid Ongoing Corporate Shakeup Aeffe MD Exits Fashion Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
14 hours ago
- Business
- Yahoo
Nike Rounds Out Management Team With New Head of Communications
Nike has reached through the Golden Arches for its next head of communications. On Monday, the sports giant named Michael Gonda, former chief impact officer for North America at McDonald's, to become its executive vice president and chief communications officer. He will assume the position formerly held by KeJuan Wilkins, who left Nike in March, about six months after Elliott Hill became chief executive officer. More from WWD Supreme and Nike Spruce Up Their Air Force 1 With Leopard Print Pony Hair Costume Designer Tanja Caldwell Talks Keisha and Justin's Love for Sneakers and Jordans on Netflix's 'Forever' Is the Dirty Sneaker Trend Washed Up? Wilkins reportedly resigned for personal reasons and Gonda will officially join Nike on July 7 and report to Hill. In this position, Gonda will lead global communications for Nike, overseeing all facets of the communications strategy, including storytelling, corporate and brand reputation, issues management, and employee engagement. He will also become a member of the company's senior leadership team. This rounds out Hill's executive team that will be charged with moving the company forward, according to sources. The leadership team includes Venkatesh Alagirisamy, chief supply chain officer; Thomas Clarke, chief growth initiatives officer; Muge Erdirik Kogan, executive vice president and chief technology officer; Matthew Friend, executive vice president and chief financial officer; Nicole Graham, chief marketing officer; Treasure Heinle, executive vice president and chief human resources officer; Rob Leinwand, executive vice president and chief legal officer; Phil McCartney, executive vice president and chief innovation, design and product officer; Ann Miller, executive vice president of sports marketing; Amy Montagne, president of Nike, and Craig Williams, president of geographies and marketplace. 'Michael is a deeply strategic, emotionally intelligent, purpose-driven leader who understands the power of storytelling to move both brands and people,' said Hill. 'His vision for driving impactful communications, his instinct for building high-performing teams, and his ability to form authentic connections will help Nike amplify the voice of sport and athletes around the world in bold and meaningful ways. I'm confident he's the right leader for us as we put Nike back at the center of sport, and our team is excited for the vision and leadership he brings.' At McDonald's, Gonda also served as chief communications officer, where he was in charge of communications, public affairs, sustainability, community engagement and philanthropy for the company's largest markets. He also served on the global senior leadership team for that company. 'Nike has always been more than a brand — it's a storyteller, a cultural force, and a catalyst for belief,' said Gonda. 'I'm deeply honored to join a company that has shaped how people see themselves and the world around them, and am humbled to help Nike tell the stories that matter, connect even more deeply with athletes and communities, and write the next ambitious chapter with Elliott and this team.' Prior to McDonald's, Gonda held senior leadership positions at Chobani and communications agency Weber Shandwick. He is an avid runner and has lived across the U.S. as well as in Kenya and China. Gonda's appointment is just the latest change at the sports brand. Last week the company said that its head of innovation, John Hoke, would be retiring from his position. Just weeks before that, it said Heidi O'Neill, president of consumer, product and brand, would also be exiting. Hill was lured out of retirement to rejoin Nike last October and has been instrumental in orchestrating massive changes within the organization, ranging from the executive team to distribution and pricing. In the company's third-quarter earnings call in March, Hill was vocal about how Nike needs to be more innovative and also reduce the amount of product available in the market. During the call, he said Nike's new priorities will be centered around five fields of play: running, basketball, football, training and sportswear; three countries: the U.S., China and the U.K., and five cities: New York, Los Angeles, London, Beijing and Shanghai. The company also revealed that it was returning to Amazon after a six-year hiatus and would be raising prices on both footwear and apparel in response to tariffs. These major moves are an answer to criticism that Nike had lost its edge to competitors such as Hoka and On, particularly in the footwear space. While the company is making some progress, there's still a lot of work to do. Net income in the third quarter was $794 million, down 32 percent from $1.2 billion in the year-ago period. Net sales in the period were $11.3 billion, down 9 percent from $12.4 billion, on a reported basis, compared to the prior year. Best of WWD EXCLUSIVE: Maje Names Charlotte Tasset Ferrec CEO Nadja Swarovski Exits Family Company Amid Ongoing Corporate Shakeup Aeffe MD Exits Fashion Group Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
5 days ago
- Business
- CNBC
Josh Brown says he's not sure if Nike can ever turn it around
Household brand Nike is not setting itself up for a successful turnaround, according to Josh Brown, CEO of Ritholtz Wealth Management and CNBC PRO contributor . The widely followed investor believes that the iconic footwear brand isn't keeping up with the fierce competition as its celebrity spokespeople age out of popularity. The stock has fallen another 19% this year following a 30% loss in 2024. "The superstars that are all aging. LeBron James is in his 40s. Michael Jordan is 30 years retired," Brown said on CNBC's " Halftime Report ." "I don't even know what we do with something like Nike here. It's just a falling knife. It's a really tough one." In late March, Nike said it expected its sales to decline in the fiscal fourth quarter to be at the "low end" of the "mid-teens range," far worse than analysts expected. The company said its guidance is based on its ongoing restructuring efforts, plus tariffs and sliding consumer confidence. NKE 5Y mountain Nike, 5 years Nike did beat Wall Street's expectations in its fiscal third quarter, however. "This is a stock that is effectively sitting on an eight year low. It keeps making lower lows even when they have a 'better than expected quarter,' within a week, stocks down," Brown said. Nike said last week it will raise prices on a wide range of footwear , apparel and equipment as the retail industry braces for tariffs to hit its profits, The investor said Nike has been getting by through selling staple sneakers like Air Force Ones and Jordans, but that's not enough to beat competition. "This is the same thing they've been doing," Brown said. "You've got these other brands that have come along. They don't have meaningful market share, but they're forcing Nike to fight defensively in key markets, like running." All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
Yahoo
6 days ago
- General
- Yahoo
MPD: Man carjacked by suspects with rifles outside laundromat
MEMPHIS, Tenn. — Memphis Police are looking for two suspects accused of carjacking a man outside of a laundromat last week. On May 23 at 11:40 p.m., officers responded to a robbery of an individual at Winchester Laundry Mat. The victim told officers that he was walking to his 2020 Nissan Maxima when two unknown suspects approached him with an AR rifle and demanded everything he had on his person. The victim said he threw his car keys inside the vehicle and walked away from it. He also said his wallet and cellphone were already in the vehicle. MPD arrests over 120 people in Operation Code Zero He told officers that both of the suspects jumped into his vehicle and fled the scene. Police have provided the following description of the suspects: Suspect #1: A 5'7″ male that's between 18 and 21-years-old, wearing a Minnesota Vikings hoodie, blue jeans, red and white Jordans and armed with an AR rifle. Suspect #2: A 5'7″ male that's between 18 and 21-years-old, wearing a red and black hoodie with Chinese writing above a tiger, gray jogging pants and black shoes. He was armed with an unknown firearm. Police said no arrests have been made at this time. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Miami Herald
23-05-2025
- Business
- Miami Herald
Nike delivers bad news for customers
I opened my closet the other day and decided to count how many pairs of Nikes I actually own. The answer? Twenty-two. And just to be clear - that's only my lifestyle sneakers. Workout shoes? NOBULL won that war. Anyway, back to my Nikes. From colorful Dunks I purposely coordinate my outfits with, to Air Max 270s that give me just enough boost to pretend I'm five feet tall, and a shelf full of Jordans that I frankly wear all the time - it's a full-blown Nike situation. Related: Forget layoffs, Nike shares new tribute to Kobe Bryant's legacy Only one pair qualifies as "beaters." The rest? Pristine. I hit them with a Magic Eraser the moment I get home. Scuffs don't stand a chance. I'm not saying I have a problem, but if there's a Nike Anonymous group out there, I might qualify. And while I'm not one of those sneakerheads who doesn't let their kicks touch the ground, I did have my closet custom-built purely to store my shoes. One side is dedicated to sneakers. The other side? Heels. That kind of loyalty is what makes this next part feel like a bit of a betrayal. Let's be real - $5 or $10 isn't a lot…until you realize it's tacked onto almost everything in your cart. Nike (NKE) is raising prices on a wide range of adult sneakers, clothing, and gear, with changes already starting to show up in stores. According to CNBC, most apparel will jump between $2 and $10, while shoes priced above $100 are seeing a $5 to $10 increase. They're leaving kids' stuff and anything under $100 alone (for now), and they're keeping the Air Force 1 at $115 - which feels like Nike trying to say, "See? We're not that bad." Related: Nike troubles mount amid huge C-suite shakeup And sure, brands tweak prices all the time. But this one feels personal. It's not some hyped collab or limited drop. These are the everyday staples people buy again and again, and the core styles that built the brand's whole identity. This is Nike saying, "We know you'll still buy it." And for people like me, they might not be wrong - but I'm definitely noticing. And the company says this is all part of its usual seasonal planning. But with new tariffs looming and manufacturing costs rising, the timing This isn't just a pricing adjustment - it's Nike showing its hand. The brand manufactures a big chunk of its shoes in China and Vietnam, and with new tariffs kicking in, it makes sense that prices are creeping up. But instead of owning that, Nike's playing it cool, framing it as "seasonal planning." Meanwhile, they're discounting more often, trying to clear shelves and get back in shoppers' good graces. And while brands like On and Hoka are gaining ground, Nike's banking on loyalty. They're betting people like me - the ones with 22 pairs lined up in custom closets - will just shrug and keep swiping. But lately, the brand just One minute it's dropping limited editions, the next it's slashing prices or quietly raising them. It's hard to tell what Nike actually stands for right now, and that's starting to show. Related: Nike, rivals sound alarm on looming threat The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
