Someone please confirm RIFs in Beaverton.
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Nike ( NKE ) is mostly mixed in its historical earnings-driven after-hours trade, but it does offer a slightly better opportunity for longs. On a downside after-hours trade the stock has historically had legs for longs. For shorts, any negative trade tonight may offer reason to be cautious.
NKE has recorded an earnings-driven after-hours decline in 24 quarters tracked in our database. In 14 of those quarters, or 58% of the time, NKE has seen its evening declines reverse direction in the following day's regular session. Longs watch it carefully; shorts be wary.
Heard 200 in Q4
Yes.
@PL195ab-kyv eloquently summed up everything I witnessed in more than two decades with Nike. There isn't anything said here that I and others have not said over and over again. The message always fell on uncaring ears. My reward in June was a quick "thank you for your years of dedicated service" and "I am sure you will land on your feet," followed by a quick exit out the back door. I was joined by many others, most of us in the "too old and too tenured" category. All that remained were the naive and the fearful. More layoffs ahead? There will come a time when even that won't be enough.
Amen!
Of course there will be more layoffs in 2018, 2019, 2020 and beyond. Nike is witnessing its own bonfire of the vanities. It wallowed in excess for years and is now collapsing under the weight of its own arrogance. Nike's only responses is to chase endorsements with recycled powerpoints, launch the umptenth varient of the same tired product and waste millions supporting someone else's political agenda. Nike inks a billion dollar contract for a single aging athlete while its competitors sign all the new talent. Nike supports millionaire ballers who bemoan their contrived injustice while driving their luxury cars and beating their wives. Nike celebrates groups whose sole mission is to divide our country and destroy our democracy. Nike builds new factories run by robots in other countries but declares it can't afford to manufacture in America because of the high cost of labor. Nike lays off thousands while erecting monuments to the egos of its executives. Nike discarded its best and brightest and outsourced its future to countries that steal from it without hesitation or remorse. Nike maintains a facade of inclusion while purging its ranks of anyone who fails to conform to its cultural dictates. Too old, too tenured, too conservative, too white, too American, etc., all forced out. All the while its stock withers as its competitors push it out of the arena. Nike will soon find itself sitting in the cheap seats watching someone else play a game they once owned. Those who are remaining will hold out hope for a pittance of a severance. Nike will only have itself to blame but will cast the blame elsewhere, just like their failed presidential candidate. What happened?