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Fashion

Nike celebrates 30th anniversary of Air Max 90

Air Max Day 2020, Nike’s annual dedication to its revolutionary cushioning Air sole sneaker, is this year honouring the Air Max 90, which is celebrating its 30th anniversary. Nike released its first-ever Air Max 1 On March 26, 1987, a model that is regarded by most as a footwear masterpiece, and over three decades later it’s undeniable that the...

26 Mar 2020

Business

Nike reports 36 percent digital growth amid COVID-19 outbreak

Nike revenues increased to 10.1 billion dollars in the third quarter, up 5 percent on a reported basis and up 7 percent on a currency-neutral basis, driven by 13 percent currency-neutral growth in Nike Direct with digital growth of 36 percent and strong growth across EMEA, APLA and North America, offset by the impact of COVID-19 on the company’s...

25 Mar 2020

Business

Nike reshuffles senior leadership team

Nike has announced a series of changes to its senior leadership team, including a new president of consumer and marketplace, a new chief operating officer, and a new chief financial officer. Heidi O’Neill, who is currently president of Nike Direct, will become president of consumer and marketplace, effective 1 April. She will succeed Elliott...

19 Feb 2020

Business

Nike transitions operations with strategic partnerships in South America

Nike is expanding its business operations in South America through new strategic partnerships in Brazil, Argentina, Chile and Uruguay. The sportswear brand is transitioning its current operations in the region to strategic distributor partnerships, which it believes will enable a more profitable, capital efficient and value accretive business...

6 Feb 2020

Retail

Nike shuts down about half of its stores in China due to coronavirus outbreak

Nike Inc. announced on Tuesday that it has temporarily closed about half of Nike-owned stores in China due to the coronavirus outbreak. Further, the company said it is operating with reduced hours and experiencing lower than planned retail traffic in stores that do remain open. The company expects the situation to have a material impact on...

5 Feb 2020

Fashion

StockX reveals most popular sneakers of 2019 after surpassing 1 billion dollars in GMV

StockX, the “fashion stock market” recentlyvalued at 1 billion US dollars, has announced it surpassed 1 billion US dollars in gross merchandise value (GMV) in 2019, having grown its global buyer and seller registrations by more than 100 percent. These results reflect the company’s efforts to diversify its product categories and grow its business...

20 Jan 2020

Fashion

The sneakers that will dominate 2020

2019 was a big year for sneakers, according to Statista, with a billion pairs of athletic sneakers sold, and the global sneaker resale market hit an estimated 6 billion US dollars, and Detroit-based StockX, the world’s first ‘stock market of things’, has shared the big winners of last year, as well as what is going to big in 2020, including the...

6 Jan 2020

Business

Nike delivers strong revenue and earnings growth in Q2

Nike, Inc. has announced that its revenues for its second quarter ended November 30, 2019 increased to 10.3 billion dollars, up 10 percent on a reported basis and up 13 percent on a currency-neutral basis, driven by strong growth across all geographies. The company said, diluted earnings per share for the quarter were 70 cents, an increase of 35...

20 Dec 2019

Video

Nike launches modest fashion swimwear with 'Nike Victory Swim'

The Nike Victory Swim collection has been developed so that athletes have all the freedom of movement they have with other swimsuits, but the body remains covered. The collection consists of the Full-Coverage Swimsuit, Swim Hijab, Swim Tunic top and Swim leggings, according to the press release. The inspiration for the collection came from the...

11 Dec 2019

People

Nike appoints Thasunda Brown Duckett as new director

Nike has announced the appointment of Thasunda Brown Duckett to the company’s board of directors. Duckett is currently CEO of Chase Consumer Banking, a division of JPMorgan Chase & Co., where she oversees 50,000 employees and a banking network with more than 800 billion dollars in deposits and investments. Prior to that, she was CEO of Chase...

15 Nov 2019

Business

Nike declares 11 percent increase in quarterly dividend

Nike, Inc. has announced that its board of directors has approved a quarterly cash dividend of 245 cents per share on the company’s outstanding Class A and Class B Common Stock, which represents an increase of 11 percent versus the prior quarterly dividend rate of 22 cents per share. The company added that dividend declared is payable on January...

15 Nov 2019

Retail

Nike ends retail partnership with Amazon

There will be no more Nike sneakers or apparel sold directly through Amazon. The athleticwear brand is ending its retail partnership with Amazon following a pilot program that had begun in 2017. Nike acted as a wholesaler to Amazon through the pilot program, supplying Amazon directly rather than leaving space for third-party merchants to sell...

13 Nov 2019