Nike, Inc. - NKE STOCK NEWS

Nike, Inc. announces senior leadership changes to drive integration and innovation. Heidi O’Neill becomes President, Consumer, Product & Brand, and Craig Williams becomes President, Geographies & Marketplace. Matthew Friend expands responsibilities. The changes aim to streamline focus, build relationships, and drive long-term growth and profitability.

NIKE, Inc. appoints Maria Henry to its Board of Directors. Henry is a former CFO of Kimberly-Clark Corporation and brings strong financial leadership and strategic contributions to the board. NIKE sees great opportunity for future growth.

DICK'S Sporting Goods and Nike announced their third annual It's Her Shot campaign, a six-city tour aimed at creating a space for girls to find joy in play. The tour will feature WNBA Legend Sheryl Swoopes and other notable basketball figures, and will include pick-up games, pro-led practice drills, courtside chats, product giveaways, and sports bra fittings. The DICK'S Foundation will provide $120,000 in grant funding to help create safe spaces for girls to play basketball year-round. The events are free to attend and open to athletes between 8-18 years old.

NIKE, Inc. (NYSE: NKE) declares a quarterly cash dividend of $0.340 per share on its outstanding Class A and Class B Common Stock, payable on July 5, 2023, to shareholders of record at the close of business June 5, 2023.

Cognizant (NASDAQ: CTSH) has announced a new five-year agreement with Nike (NYSE: NKE) to enhance technology operations across over 230 locations in more than 40 countries. This partnership builds on a 14-year collaboration and aims to improve customer, employee, and partner experiences through multilingual IT support, application assistance, and infrastructure management.

The agreement includes on-site and remote technical support for Nike's 70,000 employees and emphasizes hyper-automation and AI to drive efficiency and cost savings. Cognizant's expertise is expected to support Nike's ongoing digital transformation, enhancing product innovation and consumer connection.

NIKE, Inc. (NYSE: NKE) has announced a transition in its executive leadership team. KeJuan Wilkins, the current Vice President of Enterprise Communications, will take over as Executive Vice President and Chief Communications Officer (CCO), replacing Nigel Powell, who is retiring after 24 years with the company. Wilkins, a 17-year veteran at NIKE, has previously handled global corporate and employee communications and has significant experience in the athletic footwear industry. This leadership change is effective June 1. John Donahoe, President & CEO, expressed confidence in Wilkins’ ability to drive the brand forward.

NIKE, Inc. (NYSE:NKE) reported third-quarter fiscal 2023 results, with revenues reaching $12.4 billion, a 14% increase year-over-year and 19% on a currency-neutral basis. NIKE Direct sales grew 17% to $5.3 billion, while Digital sales rose 20%. However, gross margin fell 330 basis points to 43.3%, primarily due to elevated costs and markdowns. Diluted earnings per share decreased 9% to $0.79, and net income was $1.2 billion, down 11%. The company returned $2.0 billion to shareholders through dividends and share repurchases. NIKE is focused on sustainable growth and innovating its product lines amid market challenges.

NIKE, Inc. (NYSE:NKE) announced senior leadership changes to support its Consumer Direct Acceleration (CDA) strategy aimed at long-term growth and profitability. Effective March 13, Amy Montagne will lead the Women’s business as VP/GM, while Cathy Sparks will head the APLA geography as VP/GM. Whitney Malkiel, the current VP/GM Women’s, has left the company after over 20 years. These changes reflect NIKE's commitment to enhance its women's business and invest in key geographical markets. Heidi O’Neill, President of Consumer and Marketplace, emphasized the importance of these transitions in defining the future market and growth pathways.

NIKE, Inc. (NYSE: NKE) is set to release its third quarter fiscal 2023 financial results on Tuesday, March 21, 2023, at around 1:15 p.m. PT. Following the announcement, a conference call will occur at 2:00 p.m. PT to discuss the results. Investors and analysts can access the live broadcast via the company's investor website. For those unable to attend, an archived version will be available until April 11, 2023. NIKE, known for its athletic footwear and apparel, continues to adapt to market demands. For further updates, visit their investor relations page.