Nike to Lay Off 740 Employees in Beaverton as Part of Global Workforce Downsizing
Nike is set to lay off 740 employees in Beaverton as part of a 2% downsizing of its global workforce. The company’s decision comes after announcing plans to reduce about 1,600 employees worldwide due to underperformance. Despite the layoffs, Nike remains committed to pursuing growth opportunities in sports, health, and wellness sectors, aiming to position itself for future success by aligning its organization with strategic objectives.
Air Jordan 39 Unveiled: A New Chapter for Jordan Brand
The Air Jordan 39, the latest game shoe from Jordan Brand, set to release in July in the ‘Sol’ colorway priced at $200. Lead designer Joël Greenspan shares insights into working closely with Michael Jordan on the design, emphasizing Jordan’s personal touch. The upcoming release marks a shift towards simplicity and functionality, prioritizing agility and maneuverability for basketball players. Stay tuned for Jordan Brand athlete Paolo Banchero showcasing the sneaker in an upcoming game, signaling a new chapter for Jordan Brand in basketball footwear.
Devin Booker Gifts Final Four Teams with Nike Book 1s
Phoenix Suns’ Devin Booker gifts Final Four teams with his Nike Book 1s, showcasing support and camaraderie within the basketball community. NBA stars like Anthony Edwards also extend their support, leaving a lasting impression on the college basketball teams.
Fortnite Airphoria Vol. 2 Bundle Set to Hit Item Shop on March 27, 2024
Get ready for the ‘Airphoria Vol. 2′ Bundle in Fortnite, featuring new cosmetics like the Eclipse Outfit and Vac n’ Hack Pickaxe. Epic has confirmed the release date for March 27, 2024, with speculations of the original set also making an appearance. Stay tuned for updates and mark your calendars for this game-changing event!
Top Analyst Downgrades Nike to Sell
Top Street analyst Sam Poser of Williams Trading criticizes Nike for losing appeal and failing to make significant improvements. He predicts a slight miss in Q3 earnings and a cut in FY24 guidance, leading to a downgrade from Hold to Sell with a price target of $85, implying a downside of ~15% from current levels.
New Nike store opening at River Park shopping center in Fresno, California
A new Nike store is set to open at the River Park shopping center in Fresno, California, this week, offering a range of athletic wear and footwear. The 14,000 square foot retail space will provide shoppers with a selection of Nike clothing and shoes at competitive prices. The addition of the Nike store is part of a larger development, with plans for a new restaurant and other retail spaces at the shopping center. As the River Park shopping center continues to evolve, visitors can anticipate new signage and a growing array of retail options by the end of the year.
Responsible Use of Your Data and New Air Jordan 1 Low SE “Flight” Release
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Jacquemus and Nike are continuing their eccentric partnership with the release of a must-have ‘Swoosh Bag.’ The French luxury fashion brand’s collaboration with Nike has generated mixed reactions, but their upcoming release of a leather cross-body bag shaped like a Swoosh is creating buzz. The teaser of a collaborative partnership with Nike athlete Sha’Carri Richardson adds to the anticipation of this drop, leaving fans wondering if it’s part of a larger accessories collection with Nike.
Nike to Open First ‘World of Flight’ Store in Philadelphia
Nike is set to open its first ‘World of Flight’ store in the United States, and the chosen location is none other than Philadelphia. This exciting news has sneakerheads buzzing with anticipation for the grand opening of the store, which will be dedicated to Nike’s Jordan Brand of shoes and streetwear. The two-story, nearly 7,000 square foot store will be situated on the 1600 block of Walnut Street in Philadelphia’s Rittenhouse Square neighborhood. This will mark Nike’s fourth World of Flight location, following the success of its international shops in Italy, Japan, and Dubai. The store’s arrival is expected to make a significant impact on the local sneaker and streetwear scene, offering enthusiasts a dedicated space to explore and indulge in their passion for Nike’s iconic products. With its exclusive focus on the Jordan Brand, the store is poised to attract sneakerheads and streetwear aficionados from across the region, cementing Philadelphia’s status as a hub for fashion and footwear culture.
Victor Wembanyama’s NBA All-Star Weekend Highlights
Victor Wembanyama, the highly anticipated NBA rookie, has collaborated with Nike on a custom-designed sneaker collection debuted at the NBA All-Star Weekend. With an outer space theme and ‘alien’ logo drawn by Wembanyama himself, the exclusive collection has captured the attention of fans and sneaker enthusiasts. As Wembanyama prepares for the Rising Stars challenge, his standout performances and impressive stats have solidified his status as a rising star in the league.