CDO & CDA were both announced around the timing of year-end earnings. Wonder what surprises we have in store today? At least we should finally know our PSP %.
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When is the PSP usually payed out? End of August?
Yes it is 80%
Is the PSP 80% or what? Any official word? There must be. No longer an employee but stayed until 6/2 so wondering what will come via check in August.
China sales down. North America sales down. Margins down. Inventories piling up. The only reason the results weren’t a lot worse was financial engineering and a low tax rate. Analysts saw through it and a half dozen of them lowered their estimates on the stock. As I write this the stock is down 4% today.
Nike will do “OK” going forward but the rip-roaring days of the last few years are over. Which at Nike translates to cut budgets, pullbacks on unnecessary travel and other expenses and general austerity. Except in the executive offices that is.
I'm hearing 80% also.
80%
Nike stock Buy Back equals False Confidence with JD in charge
EBIT is down, China is in tatters (as expected), inventory is piling up (hallo, fear of recession and inflation). So, folks, looks like PSP will be low.
But hey, we’re working for our precious shareholders, right? That’s why a fat $18bln stock repurchase program was announced. Instead of investing in Tech which is lacking resources and talent, they will further reward Wall Street.
But, you, my fellow teammates, have a voice. Check Proxy statements that will be available soon and the proposals for both C-suite and Board of directors remuneration. And if they give you less pay rise they give to themselves - vote at the Annual Shareholders meeting.
We've almost hit the 2020 $50B revenue target - woo hoo.
Any news on the PSP?
China sales will be down due to China zero Covid policy. Let’s hope other Geos have positive contributions to the bottom line.