Latest news with #NKE
Business Wire
9 hours ago
- Business
- Business Wire
NIKE, Inc. Appoints Michael Gonda as Executive Vice President and Chief Communications Officer
BEAVERTON, Ore.--(BUSINESS WIRE)--NIKE, Inc. (NYSE:NKE) announced today that Michael Gonda will become Executive Vice President and Chief Communications Officer of NIKE, Inc., effective July 7, 2025. In this role, Gonda will lead the global communications organization, overseeing all facets of the communications strategy, including storytelling, corporate and brand reputation, issues management, and employee engagement. As a member of the company's Senior Leadership Team, Gonda will report to President and Chief Executive Officer Elliott Hill. '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.' Gonda joins Nike from McDonald's Corporation, where he held several senior leadership roles, including Chief Impact Officer for North America—overseeing communications, public affairs, sustainability, community engagement and philanthropy for the company's largest markets—and as Global Chief Communications Officer. During his tenure, he served on several leadership bodies, including the Global Senior Leadership Team. '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 roles at Chobani, a purpose-driven food company, and communications agency Weber Shandwick. An avid runner and traveler, Michael has lived across the United States, Kenya, and China. He earned a Bachelor's degree in English with Honors from Brown University. About NIKE, Inc. NIKE, Inc., headquartered in Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.'s earnings releases and other financial information are available on the Internet at Individuals can also visit follow NIKE on LinkedIn, Instagram and YouTube.
Yahoo
9 hours ago
- Business
- Yahoo
NIKE, Inc. Appoints Michael Gonda as Executive Vice President and Chief Communications Officer
BEAVERTON, Ore., June 02, 2025--(BUSINESS WIRE)--NIKE, Inc. (NYSE:NKE) announced today that Michael Gonda will become Executive Vice President and Chief Communications Officer of NIKE, Inc., effective July 7, 2025. In this role, Gonda will lead the global communications organization, overseeing all facets of the communications strategy, including storytelling, corporate and brand reputation, issues management, and employee engagement. As a member of the company's Senior Leadership Team, Gonda will report to President and Chief Executive Officer Elliott Hill. "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." Gonda joins Nike from McDonald's Corporation, where he held several senior leadership roles, including Chief Impact Officer for North America—overseeing communications, public affairs, sustainability, community engagement and philanthropy for the company's largest markets—and as Global Chief Communications Officer. During his tenure, he served on several leadership bodies, including the Global Senior Leadership Team. "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 roles at Chobani, a purpose-driven food company, and communications agency Weber Shandwick. An avid runner and traveler, Michael has lived across the United States, Kenya, and China. He earned a Bachelor's degree in English with Honors from Brown University. About NIKE, Inc. NIKE, Inc., headquartered in Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.'s earnings releases and other financial information are available on the Internet at Individuals can also visit follow NIKE on LinkedIn, Instagram and YouTube. View source version on Contacts Media Contact:
Globe and Mail
4 days ago
- Business
- Globe and Mail
Nike Layoffs 2025: Is It Time to Sell NKE Stock as Nike Slashes Tech Jobs?
Nike (NKE) has initiated layoffs within its technology division as part of a strategic reprioritization. The company confirmed that a portion of this work will now be handled by third-party vendors, signaling a shift in its operational approach. The development follows the company's third-quarter fiscal 2025 earnings release in March, where Nike issued a softer-than-expected forecast for the fiscal fourth quarter. The market responded swiftly, with shares tumbling 5.5% the day after the announcement, reflecting investor concerns over the company's near-term trajectory. Adding to the caution, Nike has flagged the potential impact of tariffs as a headwind to recovery, amplifying doubts around the pace of its turnaround. Revenue pressures continue to weigh heavily, and the recent restructuring only reinforces the notion that Nike is tightening its belt to navigate a more challenging financial landscape. Against this backdrop, let us see if investors should remain patient with NKE stock or begin repositioning. About Nike Stock With a commanding market cap of $91.4 billion, the company boasts a robust brand lineup including Nike Pro, Nike Golf, and the iconic Air Jordan. Despite a 19% year-to-date decline due to market challenges, NKE remains resolute in its pursuit of growth. Its strategic pivot toward a 'Win Now' framework signals a renewed focus on brand strength and product innovation. The approach is already bearing fruit, with the stock rebounding 6.6% over the past month. On the valuation front, NKE currently trades at 29.2 times forward earnings and 1.81 times sales. While these metrics represent a premium over sector averages, they remain below the stock's five-year historical multiples, presenting a potentially attractive entry point. Nike Surpasses Q1 Earnings On March 20, Nike stepped into the earnings spotlight with its fiscal 2025 Q3 results, delivering a performance that, while bruised, managed to surpass market expectations. Revenues landed at $11.3 billion, reflecting a 9.3% year-over-year drop but edging past analysts' forecast of $11 billion. The dip, though significant, did little to shake investor confidence thanks to stronger-than-anticipated EPS of $0.54, down 30% yet nearly double the Street estimate of $0.28. A closer look under the hood revealed the shifting gears within the company. Nike Direct revenues came in at $4.7 billion, falling 12%, while Wholesale clocked $6.2 billion, down 7% from a year ago. Gross margin narrowed to 41.5%, a decline of 330 basis points. The slide stemmed from a mix of factors such as heavier discounts, greater inventory obsolescence reserves, rising product costs, and changes in the sales channel mix. Moreover, net income dropped 32.3% from the year-ago value to $794 million. At the same time, Nike is charting its return to Amazon (AMZN), reversing its 2019 decision to exit the platform in favor of direct sales. As of July 19, Amazon will begin phasing out certain third-party sellers to make room for Nike's official comeback. The maneuver aligns with CEO Elliott Hill's broader recovery blueprint, aimed squarely at leveraging North America, Nike's strongest market. Looking ahead, Nike believes the fiscal fourth quarter will bear the brunt of its 'Win Now' initiatives. It expects revenue to decline in the mid-teens, though toward the lower end of that range. As for EPS, analysts foresee an 89.1% year over year decline to $0.11 for Q4, and a 45.6% drop for the full fiscal year, closing at $2.15. While the path ahead seems rocky, Nike could weather the storm with strategy in stride. What Do Analysts Expect for Nike Stock? While challenges remain, NKE could experience a turnaround. Wall Street has painted a cautiously optimistic picture for NKE, stamping it with a 'Moderate Buy' consensus. Out of 36 analysts, 15 are all in, calling it a 'Strong Buy,' while three follow suit with a 'Moderate Buy.' Another 16 stay on the fence, holding firm with a neutral 'Hold,' and two raise red flags with a 'Strong Sell.' The average price target of $74.54 represents potential upside of 21%.
CNBC
4 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.
Reuters
4 days ago
- Business
- Reuters
Nike's longtime design and innovation chief John Hoke to retire, Bloomberg News reports
May 29 (Reuters) - Nike's (NKE.N), opens new tab chief innovation officer, John Hoke, is retiring after more than three decades shaping new products at the world's largest sportswear company, Bloomberg News reported on Thursday, citing an internal memo. Nike did not immediately respond to a Reuters request for a comment.
