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In November 2023, Nike announced a 9% dividend increase -- marking the 22nd consecutive year the company raised the dividend. Nike now yields a respectable 1.8% -- which is higher than the yield ...
“By the end of the year, Nike stock was down nearly 60% from its November 2021 high,” Gordon writes. Layoffs of some 750 employees took place in July, including 32 vice presidents, 112 senior ...
The drop was especially steep in the US, where sales fell 10%; and in China, where they were down 14%. Basically, demand hasn’t been this low since the first year of the pandemic.
As of 10:30 a.m. ET today, Nike stock was down 7%. Nike's unanswered questions Nike just hired Elliott Hill as its new CEO, but he doesn't start for about another two weeks.
Data source: Nike. Chart by author. Nike expects that slowdown to deepen, with a mid-single-digit drop in its reported revenue in fiscal 2025. Analysts are bracing for a 5% decline.
The stock was also helped after Starbucks soared on news it was replacing its CEO, since many on social media said they would like Nike to make a similar move. Shares of Nike were up 5.3% as of 2 ...
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The world's largest footwear maker still has a lot to prove.