Will Nike Investors' Frustrations End Anytime Soon?
If you're a Nike (NYSE: NKE) investor, it wouldn't be surprising if you had a growing sense of frustration owning the stock. After all, it's well off the highs of over $170 a share it hit back in November 2021, and down more than 30% over the past year. The stock has barely budged the past five years, and its shares were sinking once again after its latest earnings results.Let's take a closer look at Nike's recent earnings to see if there are any signs of a turnaround in sight for the iconic sneaker and apparel maker.Nike CEO Elliott Hill has only been on the job for under six months, and finds himself inheriting a difficult situation, looking to turn the company around. Former CEO John Donahoe showed his lack of experience running an apparel brand by eschewing innovation and thinking the company could solely rely on its brand reputation. He leaned heavily into its classic footwear segment, which includes such brands as Air Jordan and Air Force 1. Meanwhile, he shunned wholesale relationships in order to focus more on direct selling.Continue reading
If you're a Nike (NYSE: NKE) investor, it wouldn't be surprising if you had a growing sense of frustration owning the stock. After all, it's well off the highs of over $170 a share it hit back in November 2021, and down more than 30% over the past year. The stock has barely budged the past five years, and its shares were sinking once again after its latest earnings results.
Let's take a closer look at Nike's recent earnings to see if there are any signs of a turnaround in sight for the iconic sneaker and apparel maker.
Nike CEO Elliott Hill has only been on the job for under six months, and finds himself inheriting a difficult situation, looking to turn the company around. Former CEO John Donahoe showed his lack of experience running an apparel brand by eschewing innovation and thinking the company could solely rely on its brand reputation. He leaned heavily into its classic footwear segment, which includes such brands as Air Jordan and Air Force 1. Meanwhile, he shunned wholesale relationships in order to focus more on direct selling.
