Sam Poser tells the story as well as anyone I have seen, in four minutes. He has been covering Nike for 20 years and this is his first sell rating.
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I expected him to give kickbacks to wherever he holds stock. Go figure, we’re a Service Now house now.
He did what was best for his wallet, not what was best for the company. Just like all the nepo hires in the ELT.
Too bad his golden parachute can’t be trimmed and fed back into productive use inside the company.
We hired a CEO who has never shipped a physical product in his alleged career. A license and content salesguy. What did you expect.
Would love for someone to look JD in the face and say “You asked for it!” as he’s let go
I love to see a smaller and more focused Nike.
Poser is 100% correct when he says this isn’t a normal down cycle for Nike. Instead the company has lost its way and is no longer focusing on the things that made the brand great.
Nike’s status as #1 in the industry has been taken for granted for years. While it won’t lose that position overnight it IS quickly being chipped away by hungrier, scrappier competitors. For the first time ever I’m not convinced Nike fully recovers from this. I genuinely think Nike will be a smaller company in the future, perhaps shedding as many as 10,000 additional jobs by 2030. Revenue growth simply isn’t supporting the margins Wall Street demands and American consumers - who now collectively have a record $1,200,000,000,000 of credit card debt and a similar amount of student loan debt - are tapped out. When the economy turns south as it inevitably will after a consumer and government debt-fueled binge over the last 15 years, it will be “look out below” for Nike’s earnings and profits. It’ll make the current layoff look like nothing more than a warm-up.
Prepare accordingly.
Nike employees used to be athletes and/or love sports back in the day (and many happened to be white males for whatever reason). Today the leaders are industry nerds (and super diverse for whatever reason).
Hot mess
CTO commend makes no sense.. that’s a slippery slope to having your supply chain guy weighing in on design.
Me thinks JD is done and someone behind the scenes is greasing the skids. The earnings week timing, JD’s “pound of flesh” and the still to be seen “accountability” lends an air of inevitable change.
Mandatory viewing for every board member. Sharpen the guillotine. Hopefully, senior management heads are about to roll. JD, it's time to take an extended 'vacation' so you can spend your ill gotten gain.
Ok. But do you really need a brand person for technology?
The first part of his analysis makes sense, but I was confused by the ending.
Super depressing because he’s right. It’s a 100% fact that JD is a clown & has played a huge role creating the mess we are in. Hopefully the board cleans house in a hurry before it’s too late.