Sportswear behemoth Nike Inc. (NYSE: NKE) has disclosed plans to lay off employees in its technology division, opting to outsource some of this work to third-party vendors.
Over the last six months, Nike’s shares have sunk to $62.18, producing a disappointing 15.2% loss while the S&P 500 was flat. This may have investors wondering how to approach the situation.
The sportswear company has laid off some staff in its strategic enterprise and corporate functions departments, and outsourced some of the work, according to Bloomberg News.
Dave Portnoy bet on Caitlin Clark to have a great game to kick off the 2025 WNBA season. His win was worth more than Clark will make in 2025 and almost as much as her four-year deal.
Heaf was previously Nike’s chief strategy and transformation officer, but his position was eliminated as part of CEO Elliot Hill's transformation efforts.
Growth boosts valuation multiples, but it doesn’t always last forever.
Companies that cannot maintain it are often penalized with large declines in market value, a lesson ingrained in investors who lost money in tech stocks during 2022.
Known for its orthopedically approved and comfortable sandals, Birkenstock says customers continue to buy its specialized footwear despite inflationary pressures.
We’ll have to closely pay attention to see how the tariff regime evolves, but recent de-escalation efforts have provided much-needed relief for several stocks with heavy exposure to China.
Shares of athletic apparel brand Nike (NYSE:NKE)
jumped 6.9% in the afternoon session after the major indices popped (Nasdaq +3.4%, S&P 500 +2.5%) in response to the positive outcome of U.S.-China trade negotiations, as both sides agreed to pause some tariffs for 90 days, signaling a potential turning point in ongoing tensions. This rollback cuts U.S. tariffs on Chinese goods to 30% and Chinese tariffs on U.S. imports to 10%, giving companies breathing room to reset inventories and supply chains.
