Nike Inc Cl B - NKE STOCK NEWS

NIKE announces key leadership changes, with Ann Miller, current EVP and Chief Legal Officer, appointed as EVP of Global Sports Marketing, succeeding retiring John Slusher after his 26-year tenure. Rob Leinwand, current VP and Deputy General Counsel, will become the new EVP and Chief Legal Officer. Both will report to CEO Elliott Hill. Miller, a former college basketball player with 18 years at NIKE, will lead the company's athlete, league, and federation portfolio. Additionally, Chief Supply Chain Officer Venkatesh Alagirisamy joins the Senior Leadership Team (SLT), reporting directly to Hill.

Frost & Sullivan has released the 2024 Global Blockchain Hardware Industry White Paper, providing comprehensive insights into market trends and opportunities in the blockchain hardware sector. The report highlights key developments including the improvement in Bitcoin mining hardware efficiency from 516.6 J/TH in 2016 to 29.6 J/TH in 2024, and notes that Canaan (NASDAQ: CAN) ranked second in computing power sold among Bitcoin hardware providers in 2023. The white paper analyzes various aspects including DeFi growth, cryptocurrency adoption, NFT market expansion (reaching $48.74 billion in 2023), and the industry's shift towards green technologies, with renewable energy now accounting for up to 78% of mining energy sources.

NIKE, Inc. (NYSE: NKE) has announced a 12-year extension of its global partnership with the NBA, WNBA, and NBA G League through 2037. This agreement solidifies NIKE as the exclusive on-court uniform and apparel provider for these leagues. The extension includes:

1. New content initiatives
2. Commitment to grassroots basketball
3. Development of a joint membership program
4. Deepened investment in the WNBA
5. Extended group license agreement with the NBPA

The partnership aims to expand basketball for the next generation by introducing youth programs, creating resources for girls' basketball, and enhancing player development opportunities. NIKE will also grow its presence at marquee league events such as NBA Global Games, All-Star events, and draft combines.

Nike (NYSE: NKE) has announced that Tom Peddie will become the new Vice President, General Manager of the North America Geography, effective October 21. Peddie, who recently returned to Nike as VP, Marketplace Partners, will succeed Scott Uzzell, who is leaving the company.

In his new role, Peddie will lead all aspects of Nike's North America Geography, including Direct, Sales, Marketing, Digital, Consumer Construct, and Territories. Peddie brings a wealth of experience from his 30-year career at Nike, having previously served in Global Sales, as GM of Emerging Markets, and leading the North America Geography.

Craig Williams, President of Geographies and Marketplace, expressed confidence in Peddie's ability to lead North America's strategic growth and highlighted his outstanding relationships with retailers and experience in developing an integrated marketplace as critical factors for future success.

NIKE, Inc. (NYSE:NKE) reported fiscal 2025 Q1 results with revenues of $11.6 billion, down 10% on a reported basis and 9% currency-neutral. NIKE Direct revenues were $4.7 billion, down 13% reported and 12% currency-neutral. Wholesale revenues were $6.4 billion, down 8% reported and 7% currency-neutral. Gross margin increased 120 basis points to 45.4%. Diluted earnings per share was $0.70, down 26%.

The company announced Elliott Hill as the new President and CEO, effective October 14, 2024. NIKE's previously announced Investor Day is postponed. The company returned approximately $1.8 billion to shareholders, including $558 million in dividends and $1.2 billion in share repurchases.

NIKE, Inc. (NYSE:NKE) announced a significant leadership change. Elliott Hill will become President and CEO, effective October 14, 2024. Hill, a long-time Nike veteran with 32 years of experience, will also join the Board of Directors and Executive Committee. He replaces John Donahoe, who will retire from his roles as President, CEO, and Board member on October 13.

Hill's appointment comes after a thoughtful succession process. His global expertise, leadership style, and deep understanding of the industry were cited as key factors in his selection. During his previous tenure at Nike, Hill held senior leadership positions across Europe and North America, helping grow the business to over $39 billion. He retired from Nike in 2020 after serving as President - Consumer and Marketplace.

NIKE, Inc. (NYSE: NKE) has announced its plans to release first quarter fiscal 2025 financial results on Tuesday, October 1, 2024, at approximately 1:15 p.m. PT. Following the news release, NIKE management will host a conference call at 2:00 p.m. PT to review the results. The call will be broadcast live over the Internet and can be accessed at https://investors.nike.com/. An archived version will be available until 9:00 p.m. PT, October 22, 2024, for those unable to listen live.

NIKE, Inc., headquartered in Beaverton, Oregon, is the world's leading designer, marketer, and distributor of authentic athletic footwear, apparel, equipment, and accessories. The company also owns Converse, which focuses on athletic lifestyle products.

NIKE, Inc. (NYSE: NKE) has announced a quarterly cash dividend of $0.370 per share on its outstanding Class A and Class B Common Stock. The dividend is payable on October 1, 2024, to shareholders of record at the close of business on September 3, 2024. This announcement demonstrates NIKE's commitment to returning value to its shareholders and reflects the company's financial stability and confidence in its future performance. The consistent dividend payout signals NIKE's strong cash flow and ability to maintain shareholder returns alongside its business operations and growth initiatives.

NIKE (NYSE:NKE) reported its fiscal 2024 fourth quarter and full-year results. Full-year revenues were $51.4 billion, a slight increase from the prior year's $51.2 billion. However, fourth-quarter revenues declined by 2% to $12.6 billion. NIKE Direct revenues dropped by 8% in Q4, while wholesale revenues increased by 5%. The gross margin for the fourth quarter rose by 110 basis points to 44.7%, primarily due to strategic pricing and reduced logistics costs. Selling and administrative expenses decreased by 7%, while net income surged by 45% to $1.5 billion, resulting in a diluted EPS of $0.99. For the full year, net income rose by 12% to $5.7 billion, with a diluted EPS of $3.73. NIKE returned $6.4 billion to shareholders through dividends and share repurchases in fiscal 2024.