Latest news with #Nike
Time of India
29 minutes ago
- Business
- Time of India
Nike tops Q4 sales, profit estimates as CEO doubles down on sports focus
Nike reported a smaller-than-expected drop in fourth-quarter revenue and beat profit estimates on Thursday, as CEO Elliott Hill's strategy to focus product innovation and marketing around sports begins to pay off. The company, which has been grappling with competition in the running space, has heavily invested in running shoes and sneaker lines such as Pegasus and Vomero, and tried to cut its stock of older models such as the Air Force 1 and Air Jordan 1, through discounts. Under Hill, who joined in October last year, Nike has rekindled relationships with wholesale partners, expanding the company's presence at more physical retailers, and started selling on for the first time in six years. The company's fourth-quarter revenue fell 12% to $11.10 billion, compared with analysts' expectation of a 14.9% drop to $10.72 billion, according to data compiled by LSEG. Under Hill's "win now" strategy, Nike is also investing more into sport-focused marketing to regain its edge as a sports brand. The company on Thursday hosted an attempt by sponsored athlete Faith Kipyegon to run a mile in under four minutes. Paced by other star athletes in the glitzy, live-streamed event in a Paris stadium, Kipyegon fell short of the goal but set a new unofficial record. Nike reported fourth-quarter earnings per share of 14 cents, compared with analysts' average estimate of 12 cents. China continues to be a pain point in the reported quarter, the company said, as tougher economic conditions and competition hurt demand for Nike's sneakers in the country. Sales in China fell 21% in the fourth quarter, following a 17% fall in the prior three-month period. Its gross margin for the quarter ended May 31 fell 440 basis points following a 330 basis points drop in the third quarter. Nike's shares were down 2% in extended trading. They have fallen 19.6% so far this year.
Yahoo
31 minutes ago
- Business
- Yahoo
Trending tickers: latest investor updates on Nike, Xiaomi, Cyngn, Spotify, Core Scientific and Unilever
Nike (NKE) shares surged by almost 10% in after-hours trading, fuelled by growing investor optimism that the company's long-awaited turnaround strategy may finally take hold, even as it posted its worst quarterly earnings in over three years. On Thursday, the Oregon-based sportswear giant reported fourth-quarter revenues of $11.1bn (£8bn), surpassing analyst expectations, though it marked the lowest revenue figure since Q3 2022. Net income plummeted 86% to $211m, or 14 cents per share, compared to $1.5bn, or 99 cents per share, in the same period last year—yet still exceeded Wall Street forecasts. Nike's (NKE) chief executive Elliott Hill said: 'The results we're reporting today in Q4, and in FY 25 are not up to the Nike standard." The company also warned that US president Donald Trump's trade tariffs could cost it around an extra $1bn. Amid these results, Mamta Valechha, a consumer discretionary analyst at Quilter Cheviot, remained cautious. 'Nike (NKE) continues to slump, with its fourth quarter the worst in at least two decades. Sales were down 12%, while its operating margin was a meagre 2.9%. The sales themselves had actually come in ahead of really low expectations, producing an earnings beat.' Read more: FTSE 100 LIVE: Stocks higher as US and China sign trade agreement, US says 10 deals imminent Valechha pointed to underlying challenges, adding: 'These troubling numbers, though, suggest that Nike (NKE) may nearly be at rock bottom. The share price rallied strongly in after-market trading as investors are beginning to expect a positive rate of change going forward. It has been a difficult period for Nike following the pandemic, and the threat of tariffs simply is not helping the situation for the company.' Though the company's outlook for the coming quarter remains grim, Valechha noted that the road to recovery would likely be gradual. 'It will be a slow recovery, however. Management is expecting further sales declines and record-low operating margins for Q1. That said, it is setting itself a low bar, hoping to give itself room for manoeuvre and the ability to beat expectations from investors and begin to drive positive momentum back into the business.' Nike's (NKE) strategy to clean up inventory levels and reduce discounting could be pivotal in driving future growth. However, Valechha said that fresh, in-demand product launches are crucial. 'Ultimately, Nike needs to produce new products that people want to buy, bringing about increased demand to help bring sales back to the company. The green shoots of recovery are beginning to show themselves in some divisions, but more could soon be on the way.' Shares of Hong Kong-listed Xiaomi ( surged more than 5% to reach a record high on Friday before closing with 3.6% gains, following an overwhelming customer response to its new electric vehicle (EV). The consumer electronics giant, which has quickly expanded into the EV market, is now directly challenging Tesla (TSLA) with its latest offering, the YU7 electric luxury SUV. On Thursday, CEO Lei Jun revealed that the YU7's starting price would be 253,500 yuan ($35,322), undercutting Tesla's (TSLA) Model Y by 10,000 yuan. Tesla's Model Y starts at 263,500 yuan in China. Lei's announcement comes as part of Xiaomi's ( broader strategy to become a serious player in the electric vehicle sector, which has seen intense competition from industry leaders like Tesla. According to Xiaomi ( the YU7 received more than 200,000 orders within just three minutes of its official launch, a sign of the growing consumer appetite for EVs, especially those offering more affordable alternatives to established brands. Ahead of the vehicle's price revelation, analysts at Citi had forecasted that the YU7 would be priced between RMB 250,000-320,000 ($34,800 to $44,590), with expected monthly sales of around 30,000 units. Citi further predicted that as sales gain momentum, Xiaomi ( could reach annual sales figures of between 300,000 and 360,000 units. Cyngn (CYN) shares closed 1271% higher on Thursday and were 30% higher in pre-market trading, after the industrial automation company revealed a partnership with Nvidia (NVDA). The collaboration will see Cyngn's (CYN) vehicles, powered by Nvidia's (NVDA) Isaac robotics platform and the company's proprietary DriveMod software, change automation across industries such as logistics and manufacturing. The partnership is designed to enhance operational safety and efficiency within commercial operations. Cyngn's (CYN) announcement came ahead of its participation at Automatica 2025, a global robotics event where the company, along with several other robotics firms, will demonstrate Nvidia-powered technologies. Automatica is regarded as a prime stage for unveiling AI-driven systems in real-world industrial settings. The meteoric rise in Cyngn's (CYN) stock price marks a stark contrast to the company's recent struggles. Over the past 12 months, Cyngn had endured a near-total loss of its market value, driven by a series of setbacks that included delisting risks and disappointing earnings results over four consecutive quarters. However, the company has since regained Nasdaq (^IXIC) compliance in March 2025, paving the way for its dramatic comeback. Investors are now hoping that this partnership with Nvidia (NVDA) will mark the beginning of a sustained recovery for Cyngn (CYN). Spotify's (SPOT) shares were trading higher ahead of the US market open, following a 5% increase in the previous session, as analysts raised their price target in anticipation of the company's Q2 earnings report. Guggenheim Securities analyst Michael Morris reaffirmed his 'buy' rating on the stock and lifted his 12-month price target to $840 from $725. In a note to clients on Wednesday, Morris expressed confidence in Spotify's (SPOT) growth trajectory. 'Our conviction in the mid- and long-term growth opportunity at the global streaming audio leader remains intact,' he said. Morris highlighted several factors fuelling his optimism, including Spotify's (SPOT) 'core pricing power, potential tier expansion, expanded delivery of audio formats (led by audiobooks and podcasts), and the early-stage commerce opportunity presented by app-store changes". Read more: Why BP could still be a target as Shell quashes takeover rumours Spotify (SPOT) stock reached a milestone on Wednesday, achieving its third consecutive record high. The company is set to release its second-quarter 2025 results and shareholder presentation on Tuesday, 29 July, before the market opens. Core Scientific (CORZ) shares saw a significant boost ahead of the US market open, following a 35% rally on Thursday triggered by a Wall Street Journal report revealing that artificial intelligence infrastructure vendor CoreWeave (CRWV) is in talks to acquire the bitcoin (BTC-USD) mining and hosting provider. The stock was briefly halted after the news broke, then resumed trading with its second-largest rally since Core Scientific's (CORZ) return to the Nasdaq (^IXIC) in January 2024, following a successful reorganisation. The company's biggest one-day jump came in June 2024, when shares surged 40% after the announcement of a major AI business expansion with CoreWeave (CRWV). According to the Journal, citing sources familiar with the situation, a potential transaction could be finalised in the coming weeks, pending any unforeseen obstacles. The deal would deepen an existing partnership between the two companies, which already includes billions of dollars in contracted commitments. With Thursday's surge, Core Scientific (CORZ) now has a market capitalisation of nearly $5bn, approximately five times the valuation implied by CoreWeave's (CRWV) previously rejected takeover bid from last year. Meanwhile, CoreWeave's stock fell by about 1% on Thursday. Unilever (ULVR.L) is paying $1.5bn to acquire US-based personal care brand Dr Squatch, according to the Financial Times. The FTSE 100-listed (^FTSE) company announced the acquisition on Monday, purchasing Dr Squatch from private equity firm Summit Partners for an undisclosed sum, though sources familiar with the transaction have confirmed the $1.5bn price tag. The deal signals the consumer goods giant's continued focus on upmarket, higher-growth sectors, despite its previous setbacks with razor subscription service Dollar Shave Club. Dr Squatch, known for its "natural" soaps, deodorants, shampoos, and other personal care products, has carved out a niche in the competitive male grooming market. The brand has built momentum through viral marketing campaigns and celebrity endorsements, including an ad with Hollywood actress Sydney Sweeney in a bubble bath and another with boxing legend Mike Tyson taking an ice bath. The brand's products are sold directly to consumers through its website and through third-party retailers, helping it establish a direct-to-consumer business model that has been integral to its rapid growth. For Unilever (ULVR.L), the acquisition marks an effort to recalibrate its portfolio by investing in categories with higher growth potential, particularly in the premium and natural personal care segments. This follows a series of strategic acquisitions aimed at bolstering its position in the fast-growing male grooming in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
The National
3 hours ago
- Sport
- The National
Kipyegon showed we should all chase our dreams with record bid
There was a time when the 4-minute mile was considered impossible. Doctors said it might kill you. Coaches called it a fantasy. For years, it stood as sport's greatest psychological barrier a line etched in fear more than physiology. Then came Roger Bannister. On May 6, 1954, he ran a mile in 3:59.4 and in doing so, he shattered more than a record. He shattered belief systems. The impossible was possible after all. This week in Paris, nearly 70 years on, we saw another barrier bend. Another belief remade. Another dream made real. A fellow Nike athlete Faith Kipyegon ran a mile faster than any other woman in history again. With a time of 4:06.42, she broke her own world record and cemented her place as the most decorated female middle-distance runner the sport has ever known. More than a result, it was a moment. A moment built on years of work. A moment carried on the shoulders of teammates, coaches, scientists, pacemakers and belief. A moment that reminded the world what happens when courage meets opportunity. 'It was tough, but I am so proud of what I've done, and I'm going to keep on trying, dreaming, and pursuing big goals,' Faith said afterward. 'I want to show the world, and especially women, that you have to dare to try.' That spirit the daring, the dreaming, the defiance of limits is what made Faith's run more than a race. It was a moonshot. The kind of act that leaves a lasting impression on anyone watching, no matter their connection to athletics. Because the 4-minute mile literal or symbolic lives in all of us. It's the thing that scares us. The thing that feels out of reach. The thing we don't speak out loud in case we fail. Her performance wasn't hers alone. Running, especially at this level, is a team sport. Scottish middle-distance runner Jemma Reekie was among the key pacemakers supporting Faith. Alongside a crew of elite athletes she helped maintain the brutal pace and provided critical wind shelter in those unforgiving laps. But it's not just about the physical support. Faith's partnership with Nike spans 16 years a relationship built not only on elite gear and science, but belief. Belief in her ability. Belief in the idea that women from Kenya, mothers, leaders, and athletes of every background deserve a platform to push the limits of what's possible. That belief is stitched into every detail of this Breaking4 performance. Nike's holistic approach from coaching, to data, to innovation shows that progress isn't random. It's built, tested, sharpened, and refined. But at the centre of it all, there must be a human heart with drive willing to push both mind and body. As Steve Prefontaine said: 'To give anything less than your best is to sacrifice the gift.' Faith has never sacrificed her gift. She's honoured it not just with wins, but with consistency, humility, and hunger. She showed that we should chase the thing that seems out of reach. Her amazing documentary shows the struggle and how to still press forward. We might not have pacemakers or super spikes. But we all have a finish line we're trying to cross. For me, as someone navigating paralysis, injury, and illness, the 4-minute mile looks different. It's found in rehab progress, mental battles, days where the body says no but the spirit insists otherwise. My miles are measured in persistence. Faith's performance is a reminder that personal bests are sacred, even when no one sees them. Maybe especially then. So what's your mile? Is it finishing therapy? Returning to the field? Starting something you've always put off? Or just waking up and choosing not to give up today? Whatever it is let Faith's words echo: You have to dare to try. Her run wasn't just a world record. It was a message. A beacon. A moonshot that says: this is what's possible when you go all in. History doesn't only belong to the fastest. It belongs to the brave. To the ones who keep showing up. The ones who run when no one's watching. The ones who believe fiercely that their dream matters. Faith Kipyegon believed and for those four laos of the Olympic track in Paris I cheered as loud as possible with broken ribs at the Television in the hope that she felt every step of this beautiful miles energy and truly lived in the moment.
The Herald Scotland
3 hours ago
- Sport
- The Herald Scotland
Kipyegon showed we should all chase our dreams with record bid
Doctors said it might kill you. Coaches called it a fantasy. For years, it stood as sport's greatest psychological barrier a line etched in fear more than physiology. Then came Roger Bannister. On May 6, 1954, he ran a mile in 3:59.4 and in doing so, he shattered more than a record. He shattered belief systems. The impossible was possible after all. This week in Paris, nearly 70 years on, we saw another barrier bend. Another belief remade. Another dream made real. A fellow Nike athlete Faith Kipyegon ran a mile faster than any other woman in history again. With a time of 4:06.42, she broke her own world record and cemented her place as the most decorated female middle-distance runner the sport has ever known. More than a result, it was a moment. A moment built on years of work. A moment carried on the shoulders of teammates, coaches, scientists, pacemakers and belief. A moment that reminded the world what happens when courage meets opportunity. 'It was tough, but I am so proud of what I've done, and I'm going to keep on trying, dreaming, and pursuing big goals,' Faith said afterward. 'I want to show the world, and especially women, that you have to dare to try.' That spirit the daring, the dreaming, the defiance of limits is what made Faith's run more than a race. It was a moonshot. The kind of act that leaves a lasting impression on anyone watching, no matter their connection to athletics. Because the 4-minute mile literal or symbolic lives in all of us. It's the thing that scares us. The thing that feels out of reach. The thing we don't speak out loud in case we fail. Her performance wasn't hers alone. Running, especially at this level, is a team sport. Scottish middle-distance runner Jemma Reekie was among the key pacemakers supporting Faith. Alongside a crew of elite athletes she helped maintain the brutal pace and provided critical wind shelter in those unforgiving laps. But it's not just about the physical support. Faith's partnership with Nike spans 16 years a relationship built not only on elite gear and science, but belief. Belief in her ability. Belief in the idea that women from Kenya, mothers, leaders, and athletes of every background deserve a platform to push the limits of what's possible. That belief is stitched into every detail of this Breaking4 performance. Nike's holistic approach from coaching, to data, to innovation shows that progress isn't random. It's built, tested, sharpened, and refined. But at the centre of it all, there must be a human heart with drive willing to push both mind and body. As Steve Prefontaine said: 'To give anything less than your best is to sacrifice the gift.' Faith has never sacrificed her gift. She's honoured it not just with wins, but with consistency, humility, and hunger. She showed that we should chase the thing that seems out of reach. Her amazing documentary shows the struggle and how to still press forward. We might not have pacemakers or super spikes. But we all have a finish line we're trying to cross. For me, as someone navigating paralysis, injury, and illness, the 4-minute mile looks different. It's found in rehab progress, mental battles, days where the body says no but the spirit insists otherwise. My miles are measured in persistence. Faith's performance is a reminder that personal bests are sacred, even when no one sees them. Maybe especially then. So what's your mile? Is it finishing therapy? Returning to the field? Starting something you've always put off? Or just waking up and choosing not to give up today? Whatever it is let Faith's words echo: You have to dare to try. Her run wasn't just a world record. It was a message. A beacon. A moonshot that says: this is what's possible when you go all in. History doesn't only belong to the fastest. It belongs to the brave. To the ones who keep showing up. The ones who run when no one's watching. The ones who believe fiercely that their dream matters. Faith Kipyegon believed and for those four laos of the Olympic track in Paris I cheered as loud as possible with broken ribs at the Television in the hope that she felt every step of this beautiful miles energy and truly lived in the moment.
Arab Times
3 hours ago
- Business
- Arab Times
US stocks close at an all-time high just months after plunging on tariff fears
WASHINGTON, June 28, (AP): US stocks closed at an all-time high Friday, another milestone in the market's remarkable recovery from a springtime plunge caused by fears that the Trump administration's trade policies could harm the economy. The S&P 500 rose 0.5%, finishing above its previous record set in February. The key measure of Wall Street's health fell nearly 20% from February 19 through April 8. The market's complete turnaround from its deep swoon happened in about half the time that it normally takes, said Sam Stovall, chief investment strategist at CFRA. "Investors will breathe a sigh of relief,' he said. The Nasdaq composite gained 0.5% and set its own all-time high. The Dow Jones Industrial Average rose 1%. President Donald Trump's decision Friday to halt trade talks with Canada threatened to derail Wall Street's run to a record, but the market steadied after the S&P 500 briefly turned negative. The gains on Friday were broad, with nearly every sector within the S&P 500 rising. Nike soared 15.2% for the biggest gain in the market, despite warning of a steep hit from tariffs. The broader market has seemingly shaken off fears about the Israel-Iran war disrupting the global supply of crude oil and sending prices higher. A ceasefire between the two nations is still in place. The price of crude oil in the US rose 0.4% to $65.52 a barrel. Prices have fallen back to pre-conflict levels. Investors are also monitoring potential progress on trade conflicts between the US and its trading partners, specifically China. The two countries have signed a trade deal that will make it easier for American firms to obtain magnets and rare earth minerals from China that are critical to manufacturing and microchip production, US Treasury Secretary Scott Bessent said Friday. China's Commerce Ministry also said that the two sides had "further confirmed the details of the framework' for their trade talks. But its statement did not explicitly mention an agreement to ensure US access to rare earths, and instead said it will review and approve "eligible export applications for controlled items.'
