Latest / Hip-Hop News Today | 2 Min News | The Daily News Now!
Nike’s Swoosh Slump and Survival | Hip-Hop News
Nike’s stock is in freefall, hitting a 12-year low after losing nearly 40% this year and 78% since its 2021 peak — wiping out $200 billion in value. The downturn deepened following weak earnings from Dick’s Sporting Goods, as athletic brands like On Holding, Hoka, and New Balance surge ahead. Nike’s aggressive pivot to direct-to-consumer sales alienated wholesale partners and left them clinging to classic sneakers like Jordans and Dunks while China’s market continues to shrink for eight quarters, with younger shoppers favoring local rivals Anta and Li-Ning. CEO efforts to rebuild…
The skinny
The skinny isn't ready yet — notes appear once the transcript is processed.