Id--t Hill inherited Nike when the stock price was $85 and in a span of 1.5 years revenues have declined, margin down by 27%, stock in the dumps. He could have achieved this even without the layoffs.
What exactly have layoffs achieved? He didn't even have the ba--s to add Nike to tariff suit.
The pattern is repeating now, at the rest of the company braces for next round of layoffs with even a reduced severance.
What about the friends and family discount extension and the 5Y employees that get the benefit for life. I think, this is good cost savings place, to remove the discount.
Sadly, we are running out of layoffs lol
@f2 This is one of the worst takes on any of these posts on this board, and that's saying a lot. employee discounts still make the company money, and serve as advertising (Just look how popular the employee store is). They are also limited to ~$2k annually in sales, so even if every single eligible person maxed out their discount every year, it wouldn't make a fraction of a fraction of a percent difference in total margins
@f2 your answer is seriously to stop the employee discount? You do understand that our margins for wholesale are the same as our margins for swoosh, right? We make all our money off of outlets, and that is about the same discount. You’re a brilliant strategist and all, but it’s not the swoosh discount sinking us.
@j2 and yet EH has just sat on his hands and done nothing to revert those decisions since becoming CEO.
EH inherited a tu-d laid by the previous CEO who ushered in wokeness. Go work, go broke.
@f2 This company is in business to virtue signal, duh!
Want higher profits? Increase margins by not giving out an employee discount program to an employees “extended family” of 25+ random people that end up buying for anyone and everyone they know. Oh and while we are at it, after a short 5 years you get it for life! And your “family” does too! Forever! And ever! And ever!
Unpopular opinion but ffs, is this company in business to make money or not? Just one of our 1,000 problems.
Take it easy JD, no one misses you
Guys. You’re leaving out the positive though. In the public filing from 2024, aren’t we hitting our diversity goals? Why do business results matter anyways?
Glad you are not in charge. You understand nothing about business and especially about business that requires a long product cycle. If what you know was fuel, it couldnt power a flea's motorcycle around a dime.
@cz omg you nailed it
The “good old boys” network built Nike into a successful behemoth. Maybe dismantling it in favor of DEI wasn’t such a great idea? Now leadership teams are full of nonstop drama with people who take everything personally. Tiny comments turn into lifelong grudges. Everyone in it only for themselves. Zero accountability. More energy goes into side tension than actual work.
I’d take the good old boys club over this forced dysfunctional diversity any day.
EH is a dinosaur.
Another member of the good old boys network.
@bt Well said in few words…
Donald was the person that didn't stock enough olympic US jerseys when the country's nationalism is surging past all time highs?
No. We have d-mb people making d-mb financial decisions. Across the board.
People putting themselves first. People putting their race first. People putting their village first. People putting their politics first. No one in power puts Nike first.
It’s Donald Trump fault Nike doing bad.
Blah blah blah sports offense
I don't switch the CEO is going to solve our problems, but I could be wrong.
Tariffs and the economy
Just need to hold on until midterms, when the blue wave impeaches the ped0 and reverses the tariffs
Stock is down due to 20 percent tariffs reducing earnings. That’s one billion dollar of more costs aka less margin. Eh has nothing to do with that. Layoffs will take place to pay for tariffs if they do.
Give him more time. Nike is a horrible company with horrible leaders