Thread regarding Nike Inc. layoffs

Truth is, just like last time they are already making ‘exceptions’ - and of course it’s in HR because the function that failed the company before continues to today.

Nike Inc (NYSE: NKE) investors are optimistic ahead of the company’s fiscal third-quarter earnings report expected on March 22. Positive earnings commentary from other companies suggests Nike likely had a solid holiday quarter, and analysts are feeling pretty good about the stock.

Wall Street analysts are expecting Nike to report earnings per share of 53 cents on revenue of $8.84 billion. Analysts are expecting full fiscal year 2018 guidance of $2.31 in EPS and $35.80 billion in revenue.

[See: Finish First With Athletic Apparel Stocks.]

In its own earnings call, D--k's Sporting Goods (DKS) management gave some positive commentary on Nike product performance in its stores last quarter. Adidas also reported a 31 percent increase in North American sales in the quarter, which bodes well for Nike’s struggling North American business.

Nike will likely also address the recent departure of brand president Trevor Edwards. Following Edwards’ resignation, Nike said it is in the process of reviewing its human resources practices in response to recent complaints from employees.

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Analysts aren’t expecting any surprises from Nike on Thursday. The Buckingham Research Group analyst Eric Tracy is predicting Nike will report 55 cents in EPS and a modest revenue miss.

“While we maintain our constructive stance in the name over intermediate/long-term, we believe risk/reward is somewhat tempered into [the] 3Q print on a combination of lingering margin/near-term fundamental pressures, recent share strength and rising market expectations,” Tracy says.

Buckingham is projecting full-year EPS of $2.28, mostly in-line with consensus estimates.

D.A. Davidson analyst Andrew Burns isn’t quite as optimistic about Nike’s third-quarter numbers, but he still likes the stock in the long term. Burns is expecting Nike to report EPS of 49 cents on revenue of $8.82 billion.

[See: 8 Sports Companies to Game the Stock Market.]

“With the U.S. segment positioned to positively inflect, [direct-to-consumer] strength and a robust product pipeline, NKE is well positioned to deliver on its October 2017 analyst day growth ambitions,” Burns says. He says foreign exchange headwinds should subside for Nike in fiscal 2019 and margins pressure from excess inventory should ease.

“While management is unlikely to provide specific [fiscal 2019] guidance, we expect initial commentary to be in line with current expectations,” Burns says.

D.A. Davidson has a “buy” rating and $78 price target for Nike. Buckingham has a “buy” rating and $75 target for NKE stock.

I'm a local reporter, I'd love to talk with someone more about this. My email is cduffy@bizjournals.com.

Agreed. Have a friend in HR. People were targeted bc of their ‘value coefficient’ was upside down. Former HR lead came up with this based on advice from consultants hired by new HR Strategic Director ‘CS’

Also like we don’t know already but NIKE hired a company Iron Data to install software on everyone’s phones to aggregate their personal data to read texts and social media meta data. I don’t want to go too deep on it, bc I don’t want to get her in trouble, but my advice to employees is to delete Iron Data. It does more than they say Andy you don’t need it.

Came here to say that.

You cannot go back for 2 reasons. One is that it Human Resources and your manager picked you as dead weight. They paid you a severance package to leave. If you come back early it makes their decision making look bad and costs the company extra money, secondly Human Resources is worried about legality of your termination. In 2009 layoff many people came back within weeks or few months and just took a nice long sabbatical on Nike dime. They don't want that to repeat. Bad optics and bad business. Anyway are you sure you want to go back? It isn't really Nike anymore. It is oracle or Microsoft culture making non innovative shoes.

Severance had nothing to do with it. I was waiting for an interview for another job at Nike on the day I was fired. I was one of three finalists for the job. My manager supported me and had even called the hiring manager to endorse me. I was literally sitting in the lobby waiting my turn when my manager called and told me to come back to her office to be fired. I was told because I was laid off I couldn't apply for another job at Nike for a year, even though I was moments away from a final interview! I asked about not taking the severance and being allowed to take the other job. The HR person said it didn't matter, it was just policy. Here's a new maxim for you: Policy Over People. I'll never work at this pos company again!

OP, I'm guessing it's because you took a severance package.(?).

It's a good question. I personally would never go back but wish you all the best in your career. Perhaps you could call the HR line and ask - its worth a try.

Good luck with that....they booted you for a reason known only to them...I know of a few people who got back in after the last round but thy are the exception