Nike stock sees worst day on record, prompting CEO criticism
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- Опубликовано: 29 авг 2024
- Nike on Friday saw its stock prices plummet 20% after the company warned its current quarter sales would see a steep decline. Hope King, a senior business reporter for Axios, joined CBS News to discuss what has led to the falloff for the shoemaker.
#news #nike
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This is what happens when your entitled senior staff s buys the inventory for their kids to sell and make a 2000% profit for the last 20 years
Old news…
Destroyed respect for the company and is a good reason why people stopped messing w Nike
Nike's quality has gotten cheaper and cheaper.
Their MLB jerseys are a good example
What are those newer brands ?
Has always been
While price has gone up and up
Nike has raised prices, lessened quality and has failed to innovate as they rely heavily on retro models like Jordans, Dunks, Air Maxes and Air Force 1s
It's falling back because there greedy $120 for joggers $60 for shirts? I can buy another brand joggers and shirt for $30 total...🤨🤨
Facts!
BINGO!!!!
Walmart. Some of my best workout shirts are Russell Athletics. Whenever I go visit El Paso, TX (usually veterans Day weekend) I take a trip to fort Bliss. There they have an under armour store where there always have sales plus an additional 10% military discount. So I get their gear for a fraction of the cost. The only time I buy Nike shoes is when I see em at Ross for $40. I'm not buying that expensive ish from the site.
EXACTLY!!! When ppl hear nike, they only think about the hyped sneakers. Ppl keep forgetting they have apparel and non hype sneakers sitting too.
And they will last longer. I used to be addicted to Nike. Not anymore from the moment I decided to try other brands. You have beautiful and more durable but cheaper products out there. At times, I still buy Nike but not as much as I used to buy them before.
Nike has flashy design but shoe doesn't last long. New Balance is more durable.
Switched to adidas
This is soo true.
Who wrote this haha puma
Clearly you don't buy Nikes. They're shoes last plenty long
Adidas yeezys way better
I’ve always said Nike are not comfortable but fashionable
Quality trash
Air Force Ones are one of the most comfortable shoes I own.
It's built to last less than 6 months.
Put on jordan 7s @@mrt094
@@mrt094 Do you only on Nikes
Nike started focusing on fashion , sneaker culture . Their shoes aren’t even made for athletics anymore.
Their QC has been in the dumpster too
It’s bc they went woke and forgot about innovating
Kobe’s are the best basketball shoe you can buy so not sure what you mean by
@@qbcomicaddict2590 these Kobe’s were designed almost ten years ago. 😂😂Please be smarter
They're failing because lack of innovation. They have become overpriced and overrated
They focused on going woke over innovating
Yup, just look at shoe reviews for their running and basketball shoes on this platform.
When fake Nike shoes are better and last longer than real Nike shoes, there is a problem.
Nike is going to continue to put out Jordan’s, Retro-Jordan’s and Jordan CLASSICS. The issue is there is only a certain demographic that purchases Jordan’s. Kudos to the new shoe companies for taking on the giant.
With Jordan retros starting @ $200 🤦🏾
@@tucool2c that part
I'll pay the 200 versus paying 600 or more to greedy sneaker companies using bots to get them
rather go to the store so i can physically see the product. online shopping is risky if you're looking for a certain. returning the product can be a hassle when you really need to use the product or not what the picture is showing
Not really… there is plenty more options online store inventory is the same recycled products. When I purchase online I can return the item at any physical store. Not a hassle at all.
No one got money to buy expensive shoes. Inflation got everyone hurting.
* has. Not “got.”
who called the annoying grammar police
Buy the dip, sell the rip. Obviously a strong buy
skechers, new balance, under armour, adidas is cheaper and more comfortable
Nike is too expensive even on sale. I’ll never buy another Nike again.
I just bought some Nikes 😂 they were on sale
Same with Adidas
$140 for new Pegasus says it all. For a entry level type daily trainer. Much better running shoes at that price point. Glad to see Zegama 2 went to Vibram, but still $180. Hoka Speedgoat $123 this past weekend. That’s one of the issues why Nike struggling.
Their toe boxes are not designed for human feet. I've never felt such tight and narrow toe boxes in any other brand.
Nike constantly wastes an unusually loyal fan base by making constant marketing and strategy mistakes. They seem to always act from a reactionary standpoint and that's what's pushed them behind some of the smaller brands. You mean to tell me nobody high enough at Nike understands that consumers want affordable, available, quality products? Also, it's kind of ironic that they put a pair of Kobe's as the thumbnail for this story, but the story was about running shoes. Lol
As a Nike basketball fan I want to buy Kobe shoes but I can’t get a pair as Nike make all these exclusives which resellers get and are killing the market by increasing the retail value, making it hard for everyday people to get them.
Make the shoes more accessible for people no matter what their financial terms are
It's not about the marketing it's about the PRODUCT! Their design has focused on the wrong aspects instead of function.
Can't remember the last Nike product I bought
New Balance makes wide shoes that are supportive and comfortable. Nike's wide and extra wide shoes are a joke. I would love to buy some of nike shoes to try them out, but they are not marketing to me, they are marketing to the under-aged kids that know no better about their feet or arch support. Nike used give you little arch support inserts with their running shoes.
You can blame losing bids on SKNRS app! Do better Nike!
SNKRS app is a joke having to enter a raffle to buy a pair of shoes that cost £200 plus then if you can’t get them you have to go on reseller sites
I think its because theyve made it a challenge to get a sneaker. How can you possibly make money if the consumer cant get what they want
I don’t even wear a lot of Nike but the company is a beast and will bounce back.
Quality. They lack in quality. Cool design but …
Time to buy some Nike while the idiots panic
that part
ON is the new Nike and I switched completely to ASICS. Nike toe-boxes are so narrow and they have had no new innovation in their shoes in over 10 years. You can only rest on your laurels for so long because nobody cares about high dollar sponsorships anymore.
The sad part is that the workforce is going to pay. Hopefully not another round of layoffs…
I have a pair of shoes made by Columbia that I’ve been wearing for almost 30 years and they still look brand new. A pair of Nikes that I bought for $200 a year ago has holes in both toe meshes and the bottom back sole is peeling off. Just from walking and wearing them to the office. Complete garbage.
The sneaker game is down
Translation: Nike stock is on sale! Buy! Buy! Buy!
BTW Hoka and On are only running shoes, Does either have a basketball shoe or a skateboarding shoe? No
That’s what I got from this! Buy the dip! Wait till NBA and NFL season start
Hoka and On may not have their basketball and skateboarding departments but, their shoes are very comfortable to wear.
And Nike's customer service is the worst. They are not investing in customer service, don't check their outsourcing centers and are defrauding consumers. Forums are full of complaints.
Nike keeps making bulkier soles to compensate for uncomfortable designs. Their older stuff was so much better. And these prices are outrageous when the quality is downhill
They used to be the leader in innovations. Now, they'd rather focus on the nostalgia of their products, throwbacks and make insurmountable collaborations that don't even make sense most of the time. Plus, their durability issues.
I used not like Nike a lot. Still do to an extent. But my wife and I are now big on Puma. Better priced and good quality shoes and clothes for us.
They shot themselves in the foot with outrageous price and poor quality. Now independent brands can get footing in athletics. “He who wants all gets none”
i bought an uptempo recently, and the quality is just off. the new balance i have, which is 75% cheaper than the uptempo has better quality.
£200 for an average pair of shoes is why they are struggling
I am not a sneakers/tennis shoe person. Normally, I only have 1 pair at a time. Recently, I was looking for a pair of sneakers and found that they were soooo expensive and over-designed for a person like me. I wanted something simple, basic, and reasonably priced. Ultimately, I found a pair of Under Armor shoes that had been reduced in price, with an extra 50% off on top of it, I paid $30.
I had never considered Under Armor before but walking into their store, I liked the simplicity of their designs. They just switch up color combinations but their shoes are not too bulky looking. The shoes are very comfortable, too. I don't know when I will need another pair of shoes again but I would certainly put Under Armor above Nike in my search.
Online sizes fluctuate a lot from shoes but still like them
Nike running has been getting too expensive with less than stellar reliability.
It's marketing...
Some people do not want to be seen wearing the same Nike products as certain demographics.
So they opt to wear brands like On, so they can appear to belong to a certain other demographic.
Haven't bought Nike in a long time. They fall apart easily, expensive, and not too comfortable.
All of the Air Jordans that I brought did not last.
Yeah, they need to go back to the basics of just making a really good pair of walking, running shoes. Keep some of the fashionable stuff but the core market should get some attention.
They also make super narrow shoes for people with cat feet. Not realistic for a world quickly moving towards wider toe boxes and feet shaped shoes. Nike deserves their downfall for destroying people's feet.
The short answer is its not... just because investors have bailed on nike doesn't mean nike is going anywhere
The Nike store in Toronto is really expensive. Jordan’s still seem to do really well though.
Whats driving low sales are high prices with so much competition
stock buy backs will help...the shareholders
Nike is losing money because of these people buying on these shoes in bulk and reselling it with a mark up
I agree.
Nike use to be innovative and they sat back and stopped for 10 years becoming a catalog company plus their production line has been out of wack since 2020. They also invested in the snkrs app that gets botted and Nike don't care cause they make money but you have to build community something Nike use to do back from 85-2017. Once kanye Virgil left they aren't pushing the culture anymore and it shows. If they don't turn it around they will fall in 15 years especially with the internet age speeding everything up good and bad. You got to build community and do it genuinely so people can talk good about your brand. These companies are becoming out of touch with the people and it shows that's why alof of businesses are failing you can't put humanity on the back burner and take there money the fall is inevitable.
I could never wear Nike bc their cuts don’t fit my body type. Looks good on other people tho!
'Athletic' shoes for a 'running culture' in a population that is 45% obese and another 25% overweight. Thanks for the laugh.
nike dominates the athletic appearal market no one is close. It dropped 20% making it a good time to invest.
It's failing because of innovation 💡, people are asking to create comfortable shoes that fit well. Also help relieve pain from being on your feet for long periods of day. With price in mind
Nike - Please make quality products again.
If they actually focus on selling the actual shoes and not the logo, things would be different. Stop making limit quantities of shoes. If they sell out quick, why not make more? But hey I'm just a normal shoe buying costumer. I'm just tired of shoes I like, selling it fast and resale is a f'n joke
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Are Nike's still made in sweatshops?
Bought a pair of AJ1 Lows at the height of it’s popularity a few years ago when it was always out of stock. I’ve since bought a few more pairs of the same shoe but they are not as well made. Looks like nike cut a lot of corners just to keep up with demand.
The only thing keeping them afloat are Jordans all of their current releases are not good. The designs are weak and prices doesn't justify the quality.
Nike is like bud light 🏳️🌈
The one reason I wear Under Armour is because my shoes sole wears evenly.
Nike tends to wear on my outer heel and inner toe.
UA wear like Crocs which wears down properly and evenly.
Nike still dominates the running shoe market....just not as much as it has in the past. It is tough staying number 1.
Nike running shoe materials aren't the same after 2019. My go to running shoe the Pegasus has never been the same since 2019. Material feels cheaper and less breathable.
Oh no nike shoes are not the best no more
They need to start selling Kobe’s in mass retail again. Make them more accessible and not behind an invisible paywall.
Fast-fashion foot-candy, but sold at high-fashion prices.
those who want (but aren’t pros & thus have to pay for it) actual athletic gear, go elsewhere.
Horrific labor practices don’t help either.
against similarly priced shoes from adidas, new balance, asics, etc. nike's shoes are lower in quality overall. they are very easy to tear even from daily use.
Nah, I still only buy Nike/Jordan
Many brands come and go. Nike is an icon it will never go away. ON and Hokka will not last. I have full faith in Nike
Yeah ok 😆- Nike can collapse
Nike never helped me get back my $50 gift card from scammers so…karma!
I tried to buy Kyries and couldn't find them. Hmmmmm. Was he not one of the best selling shoes? I found them on ANTA. They are called the Kai. Great looking and comfortable.
Um Kyrie was dropped from Nike over a year ago so they no longer sell those shoes
i twisted my ankle a few times in vapormax. i only where them casually. i got rid of them and bought on cloud shoes.
Buy Nike stock. Leave it alone for a few years prolly make a 33% return.
Nike focused on sneaker culture and unfortunately with high demand shoes that drop the masses cannot get them and then people are charged 1.5 - 10x the sale price of the shoe and that is not sustainable nor will consumers go for it too long. Let’s be real, they over depend on Jordan brand and now people are beginning to move on.
Gotcha running dept Nike , that makes sense I’ve been seeing a lot of hookak’s on feet. Why is a Kobe basketball shoe the thumbnail then? lol
This is why i buy ETFs, I wont buy a stock and hope it goes up forever
Along side the track segment, LeBruh James isn't exactly popular right now lol
Nikes are hard to get they became to exclusive period
Nike is losing its innovation. Nothing unique on the SNKRS app anymore. Jordans and dunks are sitting on the app, not even the resellers are buying them lol.
Heres another big reason nike is failing. What period would you say has nikes peak? I would say from the 90s to the early 2000s. Basically the customers in this period would be in their 40s. Nike is not capitalizing on nostalgia, they refuse to retro many of their best stuff and when they do retro anything, its not to original specs. We are living in a time where we will witness the fall of nike.
Quantity over quality that’s what it is look at the baseball jersey 🤦🏻♂️
they deserve that for supporting Botters resellers scalpers backdoorers
Every second all over the world nike sells something 😂
Adidas has always had the best running products for athletes. The only thing Nike really had going in their favour was the marketing and hype. The quality of their items have always been inferior. Easily since 2010.
The quality of Nike shoes has also become worse. They fall apart at the seams or the outsole is done after less than 50 miles.
re-sellers, cheap material to maximize profit and fashion instead of purpose is to blame
Nike is pretty strong shoes though.
You have to spend at least $400 for a complete Nike outfit. $200 for shoes, $100 for pants, $80 for a shirt, $10 for a pair of socks, and the underwear is $30 for a 4”3 pack. I switched to Puma and Under Armour for their deals and fit, though UA’s shoes don’t last as long.
wtffff😂
@@JHtx991 What’s the issue?
But im barely buying shoes its other things that are more important
Nike all my life. Switched to hoka… never going back to Nike
I only wear Nikes. Shoes are dope. Shirts and clothes quality are a littlest low and overpriced
Failing because they leaned too heavy on the Retro designs and stopped innovating
Cut thr price of their shoes
If they bring in Yeezy their stock price will skyrocket…
I’d rather wear hoka for running when I use Nike shoes for that my feet hurt.
Nike make their stuff over seas at a sweatshop that are manufactured real cheap , for example , the cost of making the Nike running shoes is around 10 or 20 bucks , resell it for 150 - 200 or more
If the majority of consumers can’t afford Nike products , Nikes aren’t going to do good in sales , that goes for all the other greedy corporations , even the food business
I don’t get why cooperation don’t realize the inflation , constantly raising prices hurt sales , if majority of people can’t afford it there’s something wrong
Nike, just do it, or maybe it's like don't do it