Welcome to our dedicated page for Nike news (Ticker: NKE), a resource for investors and traders seeking the latest updates and insights on Nike stock.
Nike, Inc. (symbol: NKE) is a globally recognized American multinational corporation headquartered in Beaverton, Oregon. Established in 1964, Nike has grown to become the largest athletic footwear and apparel brand in the world. The company's core business revolves around the design, development, manufacturing, and global marketing and sales of footwear, apparel, equipment, accessories, and services.
Nike's product lineup includes key categories such as basketball, running, and football (soccer). The company's brands include Nike, Jordan, and Converse, with footwear contributing approximately two-thirds of its total sales. Nike's products are distributed worldwide through a mix of company-owned stores, franchised stores, and third-party retailers. Additionally, Nike operates e-commerce platforms in over 40 countries, enhancing its global reach and accessibility for consumers.
To keep up with demand, nearly all of Nike's production is outsourced to contract manufacturers located in more than 30 countries. The company's strategic partnerships and collaborations with athletes, sports teams, and celebrities further fortify its market presence and brand loyalty.
Recent achievements for Nike include advancements in sustainable manufacturing practices, innovative product launches, and significant digital sales growth driven by its robust e-commerce infrastructure. Financially, Nike remains strong, continuing to generate substantial revenue and profit margins, which reflects its dominant position in the market.
Stay updated with the latest developments, financial performance, and news about Nike, Inc. to understand how this industry leader continually shapes the future of sports and lifestyle apparel.
NIKE (NYSE:NKE) reported fiscal 2025 Q2 results with revenues of $12.4 billion, down 8% year-over-year. NIKE Direct revenues decreased 13% to $5.0 billion, while wholesale revenues declined 3% to $6.9 billion. The company's gross margin decreased 100 basis points to 43.6%. Net income fell 26% to $1.2 billion, with diluted EPS at $0.78, down 24%.
The company maintained strong shareholder returns, returning approximately $1.6 billion through dividends ($557 million, up 7%) and share repurchases ($1.1 billion). Inventories remained flat at $8.0 billion, while cash and equivalents stood at $9.8 billion, down $0.2 billion from last year.
Nike (NYSE: NKE) and the NFL have announced a 10-year partnership extension through 2038, building on their 12-year collaboration as the exclusive provider of uniforms and apparel for all 32 NFL teams. The renewed partnership focuses on four key initiatives: global expansion of the sport, player health and safety improvements through Nike's Sport Research Lab, football development programs at grassroots through collegiate levels, and enhanced fan engagement through storytelling.
The partnership aims to leverage Nike's expertise in product innovation and design to address player safety concerns, particularly regarding lower extremity injuries and footwear safety. Both organizations will collaborate to grow football's global reach, increase participation, and develop new talent while supporting both flag and tackle football programs.
NIKE (NYSE: NKE) has announced that Treasure Heinle, current Chief Talent Officer, will become the company's new Executive Vice President and Chief Human Resources Officer (CHRO), effective January 6, 2025. Heinle, who joined NIKE in 2012, will succeed Monique Matheson, who is retiring after 26 years with the company. In her new role, Heinle will lead the global HR function and manage NIKE's People vision and strategy, reporting directly to CEO Elliott Hill. Heinle previously held HR leadership positions at Danaher, Tektronix, and In-Focus before joining NIKE.
NIKE has scheduled the release of its second quarter fiscal 2025 financial results for Thursday, December 19, 2024, at approximately 1:15 p.m. PT, after market close. A conference call with management will follow at 2:00 p.m. PT to review the results. The call will be broadcast live online at investors.nike.com, with an archived version available until January 10, 2025, at 9:00 p.m. PT.
NIKE (NYSE: NKE) has announced a quarterly cash dividend of $0.40 per share on Class A and Class B Common Stock, marking an 8% increase from the previous rate of $0.37 per share. The dividend will be payable on January 2, 2025, to shareholders of record as of December 2, 2024. This announcement represents Nike's 23rd consecutive year of increasing its quarterly dividend.
NIKE announces key leadership changes, with Ann Miller, current EVP and Chief Legal Officer, appointed as EVP of Global Sports Marketing, succeeding retiring John Slusher after his 26-year tenure. Rob Leinwand, current VP and Deputy General Counsel, will become the new EVP and Chief Legal Officer. Both will report to CEO Elliott Hill. Miller, a former college basketball player with 18 years at NIKE, will lead the company's athlete, league, and federation portfolio. Additionally, Chief Supply Chain Officer Venkatesh Alagirisamy joins the Senior Leadership Team (SLT), reporting directly to Hill.
Frost & Sullivan has released the 2024 Global Blockchain Hardware Industry White Paper, providing comprehensive insights into market trends and opportunities in the blockchain hardware sector. The report highlights key developments including the improvement in Bitcoin mining hardware efficiency from 516.6 J/TH in 2016 to 29.6 J/TH in 2024, and notes that Canaan (NASDAQ: CAN) ranked second in computing power sold among Bitcoin hardware providers in 2023. The white paper analyzes various aspects including DeFi growth, cryptocurrency adoption, NFT market expansion (reaching $48.74 billion in 2023), and the industry's shift towards green technologies, with renewable energy now accounting for up to 78% of mining energy sources.
NIKE, Inc. (NYSE: NKE) has announced a 12-year extension of its global partnership with the NBA, WNBA, and NBA G League through 2037. This agreement solidifies NIKE as the exclusive on-court uniform and apparel provider for these leagues. The extension includes:
1. New content initiatives
2. Commitment to grassroots basketball
3. Development of a joint membership program
4. Deepened investment in the WNBA
5. Extended group license agreement with the NBPA
The partnership aims to expand basketball for the next generation by introducing youth programs, creating resources for girls' basketball, and enhancing player development opportunities. NIKE will also grow its presence at marquee league events such as NBA Global Games, All-Star events, and draft combines.
Nike (NYSE: NKE) has announced that Tom Peddie will become the new Vice President, General Manager of the North America Geography, effective October 21. Peddie, who recently returned to Nike as VP, Marketplace Partners, will succeed Scott Uzzell, who is leaving the company.
In his new role, Peddie will lead all aspects of Nike's North America Geography, including Direct, Sales, Marketing, Digital, Consumer Construct, and Territories. Peddie brings a wealth of experience from his 30-year career at Nike, having previously served in Global Sales, as GM of Emerging Markets, and leading the North America Geography.
Craig Williams, President of Geographies and Marketplace, expressed confidence in Peddie's ability to lead North America's strategic growth and highlighted his outstanding relationships with retailers and experience in developing an integrated marketplace as critical factors for future success.
NIKE, Inc. (NYSE:NKE) reported fiscal 2025 Q1 results with revenues of $11.6 billion, down 10% on a reported basis and 9% currency-neutral. NIKE Direct revenues were $4.7 billion, down 13% reported and 12% currency-neutral. Wholesale revenues were $6.4 billion, down 8% reported and 7% currency-neutral. Gross margin increased 120 basis points to 45.4%. Diluted earnings per share was $0.70, down 26%.
The company announced Elliott Hill as the new President and CEO, effective October 14, 2024. NIKE's previously announced Investor Day is postponed. The company returned approximately $1.8 billion to shareholders, including $558 million in dividends and $1.2 billion in share repurchases.
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