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Business Insider
04-07-2025
- Business
- Business Insider
Sneakerheads and footwear insiders tell us why Nike is on the right track
Nike is trying to regain dominance with a new CEO, strategies, and sports-focused initiatives. Collectors and analysts emphasized the importance of using exclusivity to boost Nike's appeal. Nike's partnerships with athletes and innovation are keys to its comeback efforts. Nike's biggest fans have some tips for the retail giant. The sportswear brand is on a journey to regain its footwear dominance. Although its $46 billion in annual sales are ahead of smaller competitors like On Running, longtime rival brands like Adidas are nipping at its heels when it comes to mindshare. Nike's sales fell 10% during its last fiscal year. In October, as growth was stalling, the company brought on a new CEO, Elliott Hill, to get the business back on track. He's been slashing promotions, prioritizing wholesale relationships with major retailers, and putting sports back at the brand's forefront. Many avid shoe collectors, sometimes called sneakerheads, have followed the brand through its ups and downs over the years. Business Insider spoke with two loyal customers and an analyst who follows the company closely. They had mixed perspectives on the Nike of 2025. Here's what people who know Nike well have to say about the wins and losses of its comeback efforts. Nike needs to get better at knowing what to stock and when Lamar Stewart, a 32-year-old collector who estimates he owns over 100 pairs of shoes, said his love of Nike goes back to his teenage years. Lately, though, he's found some of the brand's drops underwhelming. Part of the problem is Nike's inventory strategy, including knowing when to limit or increase the quantity of a sneaker. Take the classic University of North Carolina Jordan 1 that Nike reimagined and released in May, Stewart said. Though he and other sneakerheads he knew were hyped for the famous blue and white shoe drop, the company released so many that Stewart saw them "sitting on shelves" in stores and online. "When they have a lot of stock, people aren't feeding into it," Stewart said. It's an issue Nike is addressing behind the scenes. Hill, the former president of consumer and marketplace who returned to the company as CEO, is helping Nike lessen its reliance on retro styles, such as Air Force Ones, Nike Dunks, and Air Jordan 1s. Nike has been collaborating with some of the WNBA's biggest stars on new styles and reviving its focus on running, for example. Some analysts are optimistic that Hill can help manage this "tug-of-war between scarcity and distribution," BMO Capital Markets analyst Simeon Siegel said. Exclusivity is necessary Nike did better anticipating demand with the Neon Air Max 95. It's "one of the most legendary Air Maxes," Stewart said, and collectors went crazy for the April release. Stewart said the drop drummed up feelings of the old days for sneaker collectors like himself, recalling the excitement of waking up early to stand in line for a coveted shoe. It may have been frustrating for those who couldn't get their hands on them, but complaints about not enough shoes are good for the apparel giant. It's better to leave customers wanting more. Hill said during Nike's earnings presentation last week that the company saw promising results in the fourth quarter with "reintroducing the Air Max 95 to a new generation." Siegel said creating exclusivity is key to appeasing sneakerheads. Recreational shoe collectors want what their peers can't easily get their hands on. That's part of why the company mixes in drops exclusive to its SNKRS app. "Nike needs to have many shoes that are hard to get," Siegel said. Innovation is tricky Innovation is also critical to Nike's efforts to move beyond its retro styles. Shu Cheng sells many Nike styles at .IMAGE, the New York City sneaker consignment store he cofounded. He said he does his best to educate Jordan-obsessed customers about Nike's new technologies, like the Nike x Hyperice Hyperboot, which heats up and massages ankles. His shoppers are more interested in retro styles, though. "We want to give our customers Nike's innovation, but they're not coming in and asking for it," Cheng told BI. Still, some of Nike's more innovative shoes have sold well. WNBA star A'ja Wilson's A'One sneaker sold out in under five minutes in May's online release. The A'One was made with Nike's cushioning technology called Cushlon ST2 foam. "I think where Nike went wrong in recent years was losing focus on what has made the company great for so many years, which is innovating and designing really cool products and telling marketing stories that gets the consumer excited about those products," Jim Duffy, a Nike analyst for Stifel Institutional, previously told Business Insider. Such innovation comes from putting their "ear to the streets" and listening to consumers, Stewart said. Smaller rivals are flourishing by "giving the people what they want," he said. Running brand Hoka, for example, has been a leader in the ultra-cushioned shoe trend among athletes. To catch up, BMO analysts suggested Nike take a leaf out of its old playbook and be a "fast copier" of what's working for Hoka. Nike, which released its cushioned Vomero 18 running shoes in February, is already following the trend. @torialynaee Testing out the newest Nike Vomero 18s on a quick 4 mile run, to see if they're worth all the hype! Spoiler alert ‼️: they absolutely are 🙂↕️🙂↕️ Every runner at any skill level needs a shor that feels great for THEM. I thought they would be all hype and feel like my Hokas, but boy was I WRONG! @Nike #nikeshoes #nike #runningshoes #nikevomero18 #vomero ♬ original sound - Toria Lynaee What's next for Nike Nike's renewed sports-first approach is smart, Cheng said. Instead of focusing on celebrities — like competitors Puma and On have done with Rihanna and Zendaya — collaborating with athletes leans into Nike's image as a sportswear brand. However, there's no denying the connection that sports style has with streetwear. The Air Jordan 1 started off as a basketball shoe and grew into a cultural phenomenon and its own brand under Nike Inc. The sportswear company is no stranger to partnering with luxury brands and A-listers like Jacquemus or Travis Scott, either. Nike is cooking up a unique collaboration with Kim Kardashian's Skims. The launch was recently delayed but is expected to be released in 2025, analysts said. Cheng said it's a good play to continue attracting female customers — something he said is missing from his shop. "We used to sell a lot smaller sizes, and now less and less females come in," Cheng said. "It might bring back that customer base." Winning over women is another brick laid in the groundwork of Nike's journey back to the top. Its first Super Bowl commercial in decades starred female athletes, and it's the popularity of the WNBA. "Nike, the business, still dwarfs the competition," Siegel wrote in an analyst note.
CNBC
29-05-2025
- Business
- CNBC
Josh Brown says he's not sure if Nike can ever turn it around
Household brand Nike is not setting itself up for a successful turnaround, according to Josh Brown, CEO of Ritholtz Wealth Management and CNBC PRO contributor . The widely followed investor believes that the iconic footwear brand isn't keeping up with the fierce competition as its celebrity spokespeople age out of popularity. The stock has fallen another 19% this year following a 30% loss in 2024. "The superstars that are all aging. LeBron James is in his 40s. Michael Jordan is 30 years retired," Brown said on CNBC's " Halftime Report ." "I don't even know what we do with something like Nike here. It's just a falling knife. It's a really tough one." In late March, Nike said it expected its sales to decline in the fiscal fourth quarter to be at the "low end" of the "mid-teens range," far worse than analysts expected. The company said its guidance is based on its ongoing restructuring efforts, plus tariffs and sliding consumer confidence. NKE 5Y mountain Nike, 5 years Nike did beat Wall Street's expectations in its fiscal third quarter, however. "This is a stock that is effectively sitting on an eight year low. It keeps making lower lows even when they have a 'better than expected quarter,' within a week, stocks down," Brown said. Nike said last week it will raise prices on a wide range of footwear , apparel and equipment as the retail industry braces for tariffs to hit its profits, The investor said Nike has been getting by through selling staple sneakers like Air Force Ones and Jordans, but that's not enough to beat competition. "This is the same thing they've been doing," Brown said. "You've got these other brands that have come along. They don't have meaningful market share, but they're forcing Nike to fight defensively in key markets, like running." All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL'S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. INVESTING INVOLVES RISK. EXAMPLES OF ANALYSIS CONTAINED IN THIS ARTICLE ARE ONLY EXAMPLES. THE VIEWS AND OPINIONS EXPRESSED ARE THOSE OF THE CONTRIBUTORS AND DO NOT NECESSARILY REFLECT THE OFFICIAL POLICY OR POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC. JOSH BROWN IS THE CEO OF RITHOLTZ WEALTH MANAGEMENT AND MAY MAINTAIN A SECURITY POSITION IN THE SECURITIES DISCUSSED. ASSUMPTIONS MADE WITHIN THE ANALYSIS ARE NOT REFLECTIVE OF THE POSITION OF RITHOLTZ WEALTH MANAGEMENT, LLC" TO THE END OF OR OUR DISCLOSURE. Click here for the full disclaimer.
Yahoo
20-05-2025
- Business
- Yahoo
Meink vows security as Qatar-gifted jet turned into Air Force One
Making a Qatar-gifted Boeing 747 secure enough to serve as a presidential aircraft will require 'significant modifications,' Air Force Secretary Troy Meink told lawmakers Tuesday. Meink said in a Senate Armed Services Committee hearing that the Air Force is now looking at what it will take to adapt the 747 aircraft, which the Qatar royal family is offering to the Trump administration, into an Air Force One presidential plane. Meink also pledged to Sen. Tammy Duckworth, D-Ill., not to allow security standards for the plane to slip, and to warn President Donald Trump and Defense Secretary Pete Hegseth if the service is unable to address any threats as it modifies the plane. Duckworth and Sen. Mazie Hirono, D-Hawaii, expressed deep concerns in the hearing about the deal, highlighting the security, ethical and cost concerns it raises. Duckworth called Trump's defense of the jet's gift 'bizarre and disturbing,' and said it creates 'at the very least, the pathetic appearance that our commander-in-chief can be bought by an ally of Iran and Hamas.' 'Far from saving money, this unconstitutional action will not only cost our nation its dignity, but it will force taxpayers to waste over a billion dollars to overhaul this particular aircraft, when we currently have not one, but two, fully operational and fully capable Air Force One aircraft,' Duckworth said. Trump is dissatisfied with Boeing's delays in the VC-25B program to build a pair of new Air Force Ones, which were originally due for delivery last year but now may not be ready until 2029. The Trump administration plans to accept the donation of a luxurious 747-8 and have the Air Force convert it into a new presidential transport aircraft, potentially by the end of this year. ABC News reported earlier this month that the plane would be donated to Trump's presidential library shortly before the end of his second term. But some lawmakers and aviation experts, including former Air Force Secretary Frank Kendall, have decried those plans. Critics say the deal would violate the Constitution's emoluments clause and amount to a corrupt deal benefiting Trump. The Qatar 747 plans have also been criticized as a waste of money and a potential security risk, as an Air Force One jet also needs to be a hardened, secure flying situation room capable of operating during a major catastrophe. In a Monday morning briefing, White House spokeswoman Karoline Leavitt forcefully rejected criticisms of the Qatar 747 gift and denied it was a personal donation or gift to Trump. She referred questions about the timeline of retrofitting the 747 to the Air Force. 'Because it is the United States Air Force that is accepting the plane, I would defer you to them to specifics, because the President, frankly, has nothing to do with it,' Leavitt said. 'It's the Air Force's project to take on.' The Air Force said in an email to Defense News that it currently had no information about the status and timeline of modifying the Qatar 747 to provide. Duckworth, Hirono and seven other Democratic senators last week urged the Defense Department's acting inspector general to open an inquiry into the aircraft, citing the cost and time it may take to retrofit it into a presidential aircraft and meet the necessary security and counterintelligence standards. Duckworth said she also sent a letter to Meink about the operational security risks associated with the plane, and noted an Air Force One aircraft must be able to allow the president to command and control U.S. forces from midair during a catastrophic crisis, such as a nuclear war. 'This isn't just about ensuring presidential protection, though that is very important,' Duckworth said. 'This is about our national security and protecting all Americans from the dangers posed if the president's sensitive communications are intercepted, or be out of contact, God forbid, with our nation's military during a crisis.' Duckworth initially appeared unsatisfied with Air Force Chief of Staff Gen. David Allvin's and Meink's responses to her questions about whether the work modifying a foreign-sourced aircraft into a presidential jet would be significant. Meink initially said the service had been ordered to modify the aircraft and it was postured to do so, which raised Duckworth's ire. 'That's not my question,' Duckworth said. Meink then expanded his answer and acknowledged the Air Force would look at all the issues Duckworth raised with the modifications. Meink said any civilian aircraft being converted into a presidential transport aircraft would require significant upgrades. Duckworth said she is concerned that pressure to get the Qatar 747 into service in time for Trump to use by the end of his administration may lead to operational security corners being cut. And she urged the Air Force not to let the 'distraction' of the Qatar 747 hold up work on the two other 747s Boeing is now converting to Air Force One aircraft under the VC-25B program.
Yahoo
17-05-2025
- Entertainment
- Yahoo
Bill Maher slams Trump for planning to accept plane as gift from Qatari royals
Comedian Bill Maher slammed President Donald Trump on Friday night for his plans to accept a Boeing 747 from the Qatari royal family following the commander-in-chief's trip to the Middle East this week. 'You know, when you travel, you like to leave with a souvenir, right? So he got a $400 million plane,' said Maher. 'They gave him a $400 million plane, which he accepted.' Trump has faced widespread criticism for being willing to accept the jet from the Qataris, with the president previously saying that it would be 'stupid' not to accept it. 'This has to be the ultimate 'If Obama did it,'' said Maher. Trump critics often note the outrage that would come from Republicans had a Democratic president, particularly Barack Obama, taken a fraction of Trump's controversial decisions. 'If Obama did it, Fox News would be endlessly calling it 'Allah Force One,'' said Maher, adding that the plane would need such extensive updates and additions to meet the required security standards that it's unlikely Trump will be able to use in the time he has left in the White House. 'So then it would have to be private, which would be illegal, but you know it doesn't matter,' said Maher. The comedian noted that the Qatari jet would be his fourth plane, while children may get fewer toys for Christmas due to Trump's tariff policy. 'Trump says he will not be using [the plane] when he leaves office, and people don't believe that,' said Maher. 'Not the 'using it' part, the 'leaving office' part. But, okay, so Trump now has four planes.' 'He's got the two Air Force Ones that the government provides,' he added. 'Then he's got his own plane. Now he's got this one. Four planes, yet everybody else, still only three dolls and 10 pencils.' Trump has claimed that the plane will be gifted to the Department of Defence, but Reuters noted that it will later be handed to Trump's presidential library. The plane would be one of the most valuable gifts ever given to the U.S. government. Republicans and Democrats have criticised the president for being willing to accept it. The president defended the decision during a Fox News interview on Friday. 'I just want to say, it was a radical left story,' he claimed. 'The people here, to show you how crazy it is, they would like me to pay a billion dollars.' 'I made a good deal,' Trump argued, citing the Air Force One on display at the Ronald Reagan presidential library in Simi Valley, California. 'This goes to the United States Air Force for whoever is president, and at some point, it'll be like Ronald Reagan. It'll be decommissioned, because they won't want it,' said Trump. The president criticized Boeing for being 'very late' in delivering the new Air Force Ones. Construction on the planes currently used by the president began during Reagan's time in office. 'We need a plane for a couple of years before we get the other ones, because Boeing is very late,' Trump told Fox News. 'They should be able to knock them off in no time.'
Yahoo
16-05-2025
- Entertainment
- Yahoo
Can you create 46,000 outfits out of 50 items? Iowan shares how he did it in new ‘anti-fashion' magazine
DES MOINES, Iowa — A year ago, Colin Behr moved back to Iowa where he's been working on his next creation. 'It's the anti-fashion fashion magazine,' Behr explained. Behr is uniquely qualified for his against the grain concept. He's been thinking about fashion since the time he could walk. 'I had an uncle that lived in Chicago during the '90s, he got me a pair of Jordans, actually sitting up behind us, pair of toddler J's that, you know, whether I was conscious of it or not at the time, has really played a part,' Behr said. If the seed was planted then, it took root at Iowa State, where Behr studied industrial design. 'At that point, I was still probably nervous to come and claim like I want to design footwear at Nike, you know, that's a crazy dream; there's no way a kid from small town Iowa can make it out there, you know.' After five years at Iowa State, Behr got the call. 'In a way it felt kind of like getting called up to the big leagues,' Behr said. 'I still remember to this day getting, you know, the offer letter and above my computer is an MJ poster.' Behr set off on a decade of designing for Nike. 'I think in the first five years it was, I mean over 50 projects, over 20 design patterns.' Adventureland prepping to open for the season this weekend From Air Force Ones to the Jordan brand. 'Childhood dream come true for sure,' Behr explained. Then Behr left it all behind, moving from Portland back home. 'Early in my career I did sort of feel like I had to be in those big meccas, those big cities where the fashion and the design and the art was happening otherwise you can't participate in it, and I kind of felt my whole life I was running away from Iowa.' It was an idea — the Wardrobe Theory Project — that pushed Behr to turn the page. 'I never thought I would create a magazine,' Behr said, 'and so it's a fun sort of full circle moment.' Issue one of the Wardrobe Theory Project launched earlier this year at the Dust Collective. It's a magazine of style and sustainability mixed with storytelling and systems. 'Those typically exist in different industries and conversations, and your different areas of life. What happens when we bring all those together and what sort of conversations can we have and spark with that?' For two years, Behr didn't purchase any new clothes, whittled his closet to just 50 items, and with a a mindful selection, he proved his theory by creating 46,000 outfit possibilities. 'Much of the industry is all about add new, add new, add new. What happens when we reflect and what can we learn from actually looking back and really championing the things we have in our closest already,' Behr asked. As Behr has shown, sometimes you have to look back to move forward. 'Why can't I bring that global network that I have and tap into it from a place like Iowa and see not only how we can connect to the world from here, but also start to build a different and new industry here, locally,' Behr said. Behr already broke the mold once, and with Wardrobe Theory Project he hopes to do it again. Iowa News: Can you create 46,000 outfits out of 50 items? Iowan shares how he did it in new 'anti-fashion' magazine Governor's bill tackling doctor shortage passes House and Senate Greenfield planning 1 year commemoration of tornado NASCAR Cup Series Driver Cole Custer visits elementary students in Newton Another windy day ahead as temps cool Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
