Nike Inc said on Thursday it would temporarily close all its stores in Russia, joining a slew of Western brands that have suspended their businesses in the country following Moscow’s invasion of Ukraine. The U.S. sportswear maker had made merchandise purchases on its website and app unavailable in Russia earlier this week and directed its…
Can Made in America Products Compete With Those Made in China?
Commentary Nike, the company that encourages customers to “Believe in something. Even if it means sacrificing everything,” is a company that leads by example. If a report by the Australian Strategic Policy Institute (ASPI) is anything to go by, then Nike believes in assisting the Chinese regime and sacrificing the rights of Uyghurs in Xinjiang….
Chart Wars: Between Lululemon and Nike, Which Stock Looks Set to Jump Higher, Faster?
Lululemon Athletica, Inc. and Nike, Inc. have both fallen significantly from their record all-time highs, with Lululemon trading down about 30 percent since Nov. 16 and Nike losing about 20 percent of its value since Nov. 5. However, the bottom may be in for the stocks, because on Jan. 24 Lululemon and Nike both hit a support…
Nike Files Lawsuit Against Online Reseller StockX Over Sale of ‘Unauthorized’ Virtual NFT Shoes
Nike filed a lawsuit against online reseller StockX in New York federal court on Thursday, accusing it of creating and marketing non-fungible tokens (NFTs) based on the brand’s products without its permission. The Oregon-headquartered company is suing StockX, which buys and resells clothing, technology products, and other collectible goods; for trademark infringement and dilution, as well as unfair…
Nike Stock Jumps After Q2 Earnings: Analysts React to Booming North American Market
Nike Inc shares rallied Tuesday after the company reported a fiscal second-quarter earnings beat on Monday and said North American sneaker sales are booming. Nike reported second-quarter adjusted EPS of 83 cents on revenue of $11.36 billion. Both numbers topped consensus analyst estimates of 63 cents and $11.25 billion, respectively. Revenue was up 1 percent…
Wall Street Set to Rebound After Sharp Selloff as Nike, Micron Lead Gains
Wall Street’s main indexes were set to rise on Tuesday, following a steep selloff in the previous session, as strong quarterly earnings from Nike and a positive forecast from chipmaker Micron helped lift sentiment. A rapidly spreading Omicron variant of the coronavirus has rattled stock markets around the world, triggering major routs in the final…
Nike Beats Revenue Estimates on North America Demand
Nike Inc beat estimates for quarterly revenue on Monday, lifted by strong demand for its sports shoes and apparel in North America even as shipping hurdles and factory closures pinched supplies. The company’s shares rose nearly 3 percent in extended trading. Nike’s sales in North America, its largest market, jumped 12 percent in the company’s…
Nike Passes Coinbase, Starbucks, and Target in Apple App Store Ahead of the Holidays
With the holidays right around the corner, Nike Inc’s mobile app is seeing an increase in usage. The Nike app is ranked 34th on the “Top Free Apps” list in the Apple Inc app store as of Tuesday. The app was ranked 78th on the list at the end of October, before seeing download volume…
The NBA, Nike, and the Refusal to Condemn the Chinese Regime’s Abuses
Commentary The author W. Clement Stone famously urged Americans to choose courage over cowardice. “Have the courage to face the truth,” he wrote. “Do the right thing because it is right. These are the magic keys to living your life with integrity.” One wonders what the great man would have to say about the NBA and Nike. On Oct….
NBA Player Accuses Nike of Remaining Silent Over CCP’s Human Rights Record, Forced Labor
Boston Celtics star Enes Kanter continued his criticism of the Chinese Communist Party (CCP)’s human rights abuses by calling out Nike for remaining “silent” on the regime’s practices. “Dear @Nike Stop the modern day SLAVERY, now!!! #HypocriteNike #EndUyghurForcedLabor,” Kanter said on Twitter, publishing another video to his social media accounts on Monday. The Turkish NBA…
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