Nike

Adidas shares fell more than 15% in early trading after the German sportswear giant missed second-quarter profit expectations, despite a 14% revenue increase to £5.7bn. The profit miss was attributed to a £180m marketing spend, largely driven by campaigns for the FIFA World Cup hosted by the US, Canada, and Mexico. The high-profile World Cup advert featured celebrities including Timothée Chalamet, Lionel Messi, and Bad Bunny. Adidas maintained its full-year operating profit target of £2bn. The share price drop, reaching 17% to €151.20, challenges CEO Bjørn Gulden’s goal of closing the gap with rival Nike. The company cited growth in running and football sectors, and noted strong kit deals with Manchester United and Real Madrid. Adidas also announced Birgit Kretschmer will replace Harm Ohlmeyer as CFO at year-end.

1 reports · 1 sources · Updated Jul 30, 09:46 AM UTC

Zinedine Zidane was officially presented as the new head coach of the French national team on Tuesday, resolving a potential sponsorship conflict between his long-time personal sponsor Adidas and the team's equipment supplier Nike. FFF President Philippe Diallo confirmed that Zidane will wear Nike apparel during national team gatherings, as required by the federation's contract. However, an exception was made for footwear, allowing Zidane to choose his own shoes, which are considered technical products. Zidane, who has been sponsored by Adidas since 1996, stated he will maintain his ambassadorship with the German brand outside his coaching duties, emphasizing that his personal sponsorship will not interfere with his role with Les Bleus.

1 reports · 1 sources · Updated Jul 28, 10:18 AM UTC

Colin Temple, the longtime president of UK-based footwear retailer Schuh, is leaving after 38 years with the company, including 15 years as president. He joined as a merchandiser in 1988 and became managing director in 2002. Tomas Petersson, formerly senior vice president and general manager of EMEA at Foot Locker, will succeed him as president, reporting to Journeys Global Retail Group CEO Andy Gray. Petersson also held leadership roles at Puma and Intersport Sweden. The leadership change comes as Schuh faces a challenging consumer market and heavy discounting in the region. Genesco CEO Mimi Vaughn indicated the company will focus on full-price selling and controlled markdowns, while improving product access with brands like Nike, Adidas, and Asics. Temple expressed pride in his tenure and confidence in the company's future.

1 reports · 1 sources · Updated Jul 27, 03:39 PM UTC

Nike and Hyperice announced the upcoming launch of the Hyperslide, a recovery footwear product set for release on September 29, 2026, priced at $249. Building on the 2024 Hyperboot, the Hyperslide integrates a single pod in the strap that delivers heat and vibration, combined with Nike Air Zoom cushioning. Hyperice CEO Jim Huether emphasized the product's mainstream appeal, designed for use after workouts, during travel, or at home, without requiring dedicated recovery time. The collaboration, which began with the Hyperboot for Olympians, now expands into a broader line of wearable recovery technology. Athletes Virgil van Dijk and Tara Woodhall contributed to the project. The Hyperslide battery lasts approximately one hour.

1 reports · 1 sources · Updated Jul 27, 02:00 PM UTC

LeBron James, at age 41, has signed a two-season contract with the Philadelphia 76ers, joining the team of his childhood idol Julius Erving. The article reviews his substantial net worth, estimated at $1.4 billion, making him the only billionaire basketball player. His wealth includes real estate holdings in Beverly Hills ($36.75 million), Brentwood ($23 million), and Akron ($9.2 million), as well as past property sales. He has lucrative advertising contracts, notably a lifetime deal with Nike, and investments in sports teams like Liverpool FC, Málaga, Boston Red Sox, and Pittsburgh Penguins. Other investments span entertainment (SpringHill Company, YES Network), telecommunications (AT&T), food (Pepsi, Pizza Blaze), and Beats By Dre. Despite earning $52.6 million in his last Lakers season, he will sign a low $8 million two-year deal with the Sixers to facilitate team building for a championship run.

1 reports · 1 sources · Updated Jul 24, 06:23 PM UTC

Nike announced plans to streamline its online business in China starting January 2027, focusing on official flagship marketplaces on TMall, JD.com, and Douyin, as well as its own app and website. Other online storefronts will transition out of selling Nike products, with some exceptions. The sportswear giant aims to create a more consistent, premium, and connected marketplace. Nike also plans to improve physical retail stores in China and named its first Greater China vice president of local product creation to focus on products designed, developed, and made in China for Chinese consumers. The move comes after flat sales in the region dragged down Nike's overall performance in FY26. Nike's largest distributor in China, Topsports, acknowledged short-term pressure but expressed confidence in the medium- to long-term benefits for the retail ecosystem.

1 reports · 1 sources · Updated Jul 24, 11:22 AM UTC

Nike has accelerated a wave of store closures across the U.S., shutting down roughly a dozen locations in July 2026 alone as part of its Global Operations Changes restructuring initiative announced in April 2026. The closures span multiple states including California, Florida, Georgia, Illinois, Kentucky, Missouri, Maryland, New Jersey, North Carolina, and Texas. The restructuring aims to strengthen the company's foundation, improve competitiveness, and support long-term profitable growth by optimizing supply chain, accelerating technology deployment, and investing in employee training. Approximately 1,400 Global Operations positions are expected to be eliminated. The moves come after Nike reported a 1% revenue decline in Q4 fiscal 2026, with footwear and equipment posting negative growth and Nike Direct revenue falling 9%. The company has also discontinued its Nike Fitness Studios venture and consolidated technology offices into two hubs.

1 reports · 1 sources · Updated Jul 24, 09:03 AM UTC

FC Barcelona has released its new away kit for the 2026-2027 season, featuring a gradient design transitioning from black at the top to purple at the bottom. The shirt is a collaboration between equipment manufacturer Nike and the Kobe Bryant brand. The article, published by Foot Mercato on July 24, 2026, notes that this follows the club's original home jersey release and describes the away kit as atypical. The report includes an image of the kit and links to related content about Barcelona's home kit and other club news.

1 reports · 1 sources · Updated Jul 24, 08:12 AM UTC

The Equal Employment Opportunity Commission (EEOC) has voted 2-1 to propose rescinding the requirement that employers with 100 or more workers report the racial and sexual demographics of their workforce, a mandate dating back to the 1960s. The agency argues the requirement is not statutorily mandated, may violate constitutional narrow tailoring standards, encourages race-based discrimination to meet diversity targets, and imposes financial burdens. The change could reduce DEI pressure but may hinder discrimination investigations, including challenges to DEI practices. Critics note that data may still be collected voluntarily or via subpoenas, and a future Democratic administration could reinstate the rule. State-level requirements, such as California's, remain unaffected.

1 reports · 1 sources · Updated Jul 24, 08:00 AM UTC

The Equal Employment Opportunity Commission (EEOC) has voted 2-1 to propose rescinding the requirement that employers with at least 100 workers annually report the racial and sexual makeup of their workforces. The rule, not explicitly mandated by law, is justified by the EEOC on constitutional grounds, arguing that indiscriminate collection of racial data may not be narrowly tailored. Critics note the change could reduce pressure on companies to meet diversity quotas and lower compliance costs, but may also hinder discrimination investigations, including those targeting DEI practices. The rule's effect depends on whether employers continue collecting data voluntarily and on future administrations' policies. State-level requirements, such as California's, remain unaffected. The article highlights tradeoffs between reducing government overreach and maintaining data for enforcement.

1 reports · 1 sources · Updated Jul 24, 08:00 AM UTC

The U.S. Equal Employment Opportunity Commission (EEOC) has voted 2-1 to propose rescinding the long-standing requirement that employers with 100 or more workers report the racial and sexual demographics of their workforce. The agency argues the mandate is not legally required, may violate constitutional narrow tailoring standards, and could encourage race-based hiring to meet diversity targets. The change would save the EEOC millions annually and reduce employer burdens. However, critics note that the data is useful for discrimination investigations, including challenges to DEI practices. The rule's effect depends on whether employers continue collecting the data voluntarily, state-level requirements like California's, and whether a future Democratic administration reinstates the mandate. The article highlights trade-offs between reducing government overreach and preserving tools to enforce anti-discrimination laws.

1 reports · 1 sources · Updated Jul 24, 08:00 AM UTC

Manchester City have completed the signing of highly-rated Manchester United academy forward Nico Cadeau, according to Ballerz Scout on Instagram. The move is the latest in a series of transfers between the two Manchester rivals. Cadeau, regarded as one of the country's biggest talents in his age group, once scored over 200 goals in a single season and averaged 5.5 goals per game the following campaign. He was also named in the Team of the Tournament at a major youth competition alongside players from Barcelona and Real Madrid. The signing comes one day after Manchester United completed two academy signings from Manchester City, David Eze and Karim Cassim. The article also notes that United had previously strengthened their attack last summer by signing Bryan Mbeumo, Matheus Cunha and Benjamin Sesko, which increased competition for players like Amad Diallo.

1 reports · 1 sources · Updated Jul 23, 06:51 PM UTC

Ziggi's Coffee announced the appointment of Stacey Pool as Chief Growth Officer, a newly expanded leadership role based at the company's headquarters in Mead, Colorado. The move comes as the brand celebrates 10 years of franchising in 2026, with 120 locations currently open and over 200 in development. Pool will lead the strategy behind Ziggi's continued expansion, focusing on accelerating unit growth, entering new markets, and strengthening franchisee profitability. She brings extensive experience from her previous roles as Chief Marketing Officer at FullSpeed Automotive and Noodles & Company, as well as senior marketing positions at Vail Resorts and Nike. Co-founder and CEO Brandon Knudsen highlighted Pool's rare mix of franchise experience and brand-building expertise. Pool is already working with Ziggi's leadership to shape the brand's next phase of growth.

1 reports · 1 sources · Updated Jul 23, 02:24 PM UTC

Ziggi's Coffee announced the appointment of Stacey Pool as Chief Growth Officer, a newly expanded leadership role based at the company's headquarters in Mead, Colorado. The appointment comes as the brand marks 10 years of franchising in 2026, with 120 locations open and more than 200 in development. Pool will lead the strategy behind Ziggi's continued expansion, focusing on accelerating unit growth, new-market expansion, and strengthening franchisee profitability. She brings experience from FullSpeed Automotive, where she served as Chief Marketing Officer, Noodles & Company as CMO, Vail Resorts as SVP of Corporate Marketing, and digital marketing roles at Nike. Co-founder and CEO Brandon Knudsen highlighted Pool's rare mix of franchise experience and brand-building expertise. Pool is already working with Ziggi's leadership to shape the brand's next growth phase.

1 reports · 1 sources · Updated Jul 23, 02:24 PM UTC

An Oregon federal jury found Nike Inc. guilty of gender discrimination against former engineer Heather Hender, awarding her $19,739.52 in damages and ordering at least $7.5 million in punitive damages. Hender worked at Nike from 2015 to 2020 and alleged she was paid less and promoted more slowly than male colleagues. The six-day trial concluded with a verdict after just over a day of jury deliberation. Hender's attorney hailed the decision as a victory for all women at Nike, stating it sends a message that workplace discrimination is unacceptable. Nike expressed disappointment and said it disagrees with the conclusions, emphasizing its commitment to fair treatment and competitive compensation. The company retains the right to appeal to the Ninth Circuit. The case began in 2018 when four employees sued Nike, but Hender became the sole plaintiff after the other three settled. The lawsuit followed a 2018 New York Times exposé describing a toxic 'boys club' culture at the company.

1 reports · 1 sources · Updated Jul 22, 09:47 PM UTC

Manchester United are showing significant interest in signing 14-year-old winger Elo Onuchukwu, who recently deregistered from Leicester City's academy. Onuchukwu, a highly-rated prospect who played two age groups above his own and has a sponsorship deal with Nike, is also being pursued by Manchester City and Tottenham Hotspur. The move is part of United's broader strategy under manager Michael Carrick and INEOS ownership to strengthen the squad with elite young talent. United have already completed midfield signings Andrey Santos and Youri Tielemans, as well as winger Tynan Thompson, and continue to explore the market for a third midfielder and other positions.

1 reports · 1 sources · Updated Jul 22, 06:25 PM UTC

US sportswear giant Nike will bar most of its 16 wholesale partners in China from selling its products online starting January, redirecting sales to its own branded storefronts on Tmall, JD.com, Douyin, and its own website and app. The move aims to reduce marketplace fragmentation, restore consumer confidence, and support full-price sales amid declining revenue in Greater China. Nike's Greater China GM Cathy Sparks cited consumer demand for a premium, trustworthy, connected experience. Local competitors Anta, Li Ning, and international labels On and Hoka have been gaining ground. Two publicly listed retail partners, Topsports and Pou Sheng, warned of significant near-term revenue hits, with online Nike sales representing 22% and 15% of their respective revenues. Nike's Q4 Greater China revenue dropped 17% on a constant-currency basis, while full-year revenue reached $46.39bn. CEO Elliott Hill's turnaround plan focuses on sport, mending wholesale ties in North America, and new products.

1 reports · 1 sources · Updated Jul 22, 02:01 PM UTC

Jim Cramer outlines 10 key market developments for July 22, 2026. Oil prices are rising, with Brent crude hitting $95 a barrel, pressuring stocks. GE Vernova drops 4% on a noisy quarter but shows strong order growth. Capital One beats estimates but shares are flat. AT&T jumps 4% on a strong quarter and increased buybacks. Super Micro surges 14% on preliminary results with over $60 billion in new orders. Nike is restructuring its China digital presence by cutting thousands of online distributors. Analysts adjust price targets for 3M, Danaher, and Arm. Mortgage applications rise despite high rates. Cramer highlights Home Depot as a housing play and Intel as a CPU bet.

1 reports · 1 sources · Updated Jul 22, 12:58 PM UTC

Nike announced on July 21, 2026, that it will sever ties with thousands of online distributors in China starting January 2027, redirecting consumers to its owned digital properties and official storefronts on Tmall, JD.com, and Douyin. The company cited uneven pricing and inconsistent brand image from the current network of physical retail partners and secondary distributors. Cathy Sparks, Nike's VP and GM of Greater China, stated the move aims to reduce fragmentation and strengthen the consumer journey. Topsports, Nike's largest distributor in China, expressed support despite expecting short-term strain. The restructuring comes as Nike faces a 17% constant-currency revenue decline in Greater China, with local brands gaining ground. BNP Paribas analyst Laurent Vasilescu warned the strategy echoes Nike's earlier North American retreat that ceded competitive ground, suggesting a product problem rather than a distributor issue. Nike stock has fallen over 35% in 2026.

1 reports · 1 sources · Updated Jul 22, 12:22 PM UTC

Nike announced it will sever ties with thousands of online distributors in China starting January 2027, redirecting consumers to its owned digital properties and official storefronts on Tmall, JD.com, and Douyin. The company cited uneven pricing and inconsistent brand image from the current network of physical retail partners and secondary distributors. Cathy Sparks, Nike's VP and GM of Greater China, stated the move aims to reduce fragmentation and strengthen the consumer journey. Topsports, Nike's largest distributor in mainland China, expressed support despite expecting short-term strain. BNP Paribas analyst Laurent Vasilescu warned the strategy mirrors Nike's earlier retreat from North American wholesale accounts, which hurt sales and margins, and argued Nike has a product problem rather than a distributor problem. The restructuring comes as Nike's Greater China revenue fell 17% in the most recent fiscal quarter, with local brands gaining ground. Nike stock has dropped over 35% in 2026.

1 reports · 1 sources · Updated Jul 22, 12:22 PM UTC

Nike's stock has fallen 76% from its November 2021 peak, reflecting weaker financial performance amid a challenging turnaround led by CEO Elliott Hill. The company reported $46.4 billion in fiscal 2026 revenue, with flat year-over-year growth and a 3% decline in net income. North America showed some strength with 3% revenue growth in Q4, but Greater China sales dropped 12%. Analysts expect a further 1.5% revenue decline in fiscal 2027. Despite strong brand recognition and innovation in running shoes, Nike faces headwinds from competition, fashion market volatility, and tariff impacts. The article questions whether the beaten-down stock presents a rare buying opportunity before a potential parabolic recovery.

1 reports · 1 sources · Updated Jul 22, 11:15 AM UTC

Super Micro Computer (SMCI) shares surged 16% premarket after raising its Q4 FY26 gross margin outlook to 15%-17%, well above prior guidance of 8.2%-8.4%, driven by favorable customer and product mix. Revenue is expected near the low end of $11B-$12.5B guidance, with consensus at $11.73B. Backlog hit record levels with over $60 billion in new orders. Separately, President Trump announced a phased tariff plan on generic drug imports: zero tariffs for two years starting August 1, then 100% in August 2028, rising to 200% a year later, aiming to push production onshore. Over a dozen major pharma firms including Eli Lilly, Pfizer, and Novo Nordisk have committed to price cuts. Nike announced it will cut ties with thousands of online distributors in China starting January, shifting focus to its own website, app, and major platforms like Tmall and JD.com.

1 reports · 1 sources · Updated Jul 22, 11:00 AM UTC

Travis Scott, in an appearance on The Tonight Show with Jimmy Fallon, recalled meeting Norwegian football star Erling Haaland at the FIFA World Cup. Scott revealed that Haaland played in the boots he collaborated with Nike to create for the tournament, calling the experience 'crazy.' Scott said he wanted to see greatness on the field. The two met after Norway's loss to France, and Haaland signed a jersey for Scott with a personal message. The article notes that Haaland has become a global sensation and a viral figure during the World Cup, transcending football fandom. Both Scott and Haaland are Nike-endorsed, suggesting potential future collaboration.

1 reports · 1 sources · Updated Jul 22, 05:31 AM UTC

Nike is tightening its online sales strategy in China, with most of its 16 store partners, which own and manage thousands of Nike stores, set to stop selling online. This move comes as Nike's sales in China have fallen for five consecutive years, with both local and foreign competitors eroding its market share. The decision reflects the fragmented nature of the Chinese marketplace and Nike's efforts to streamline its distribution and regain control over its brand presence. The article, published by The Business Times Singapore on July 22, 2026, highlights the challenges global brands face in China's competitive retail environment.

1 reports · 1 sources · Updated Jul 22, 02:05 AM UTC

Nike announced plans to cut off thousands of online distributors in China starting January 2026, consolidating its digital sales through its own website, app, and official storefronts on Tmall, JD.com, and Douyin. The move aims to create a consistent consumer experience, stabilize pricing, and strengthen branding amid a sales decline of about 30% in the region over the past five years. While the strategy could lead to a material drop in revenue, Nike's new Greater China VP Cathy Sparks emphasized reducing fragmentation. BNP Paribas analyst Laurent Vasilescu warned the move echoes Nike's failed North America wholesale cutback, which opened shelf space for competitors. Topsports, Nike's largest distributor in mainland China, expressed support despite short-term pressure, citing long-term benefits for the retail ecosystem.

1 reports · 1 sources · Updated Jul 22, 12:00 AM UTC

According to football equipment website Footy Headlines, official images of Arsenal's 2026/27 season third kit have been leaked early, showing both player and fan versions. Designed by Adidas, the new jersey features light yellow as the main color, with the club crest, brand logo, edge trim, and pattern details in dark blue. The overall color scheme is fresh while retaining a strong retro feel. The shorts are predominantly dark blue, continuing the lightning pattern from the shirt for a unified design. The most eye-catching element is the return of the lightning pattern, which has appeared in multiple recent Adidas Arsenal kits and traces back to the 1994/95 season when Nike first introduced it. The light yellow main color also evokes memories of Arsenal's 2019/20 away kit, which was inspired by the classic 'Bruised Banana' design featuring irregular zigzag patterns.

1 reports · 1 sources · Updated Jul 21, 08:04 PM UTC

Chelsea Football Club has officially released its 2026/27 away kit, designed by Nike, now available for purchase. The kit features a solid black base with 'Midwest Gold' details, marking the first time since the 2021/22 season that yellow has been reintroduced in an away kit. The design pays tribute to Chelsea's 'Italian Renaissance' period of the 1990s, with laurel wreath patterns on the collar and cuffs echoing the home kit. The crest uses a simplified gold lion emblem, previously seen on the 2024/25 third kit. This is Chelsea's first black away kit since the 2016/17 Premier League-winning season. A promotional video featuring men's and women's first-team players, including Estevão, Caicedo, Reece James, and Lucy Bronze, depicts lions forming a pride to emphasize unity and strength.

1 reports · 1 sources · Updated Jul 21, 07:59 PM UTC

The Spanish football club Deportivo has officially changed its name from Real Club Deportivo de La Coruña S.A.D. to Real Club Deportivo de A Coruña S.A.D., as confirmed by the Official Gazette of the Commercial Registry. The change, approved by an extraordinary shareholders' meeting on June 23, adapts the club's name to the city's official toponym, A Coruña. Nearly 80% of surveyed fans supported the move. The new name has already been displayed on the club's crest, jerseys by Nike, and facilities since St. John's Eve. This initiative is part of the club's 120th anniversary celebrations in 2026, which also include a new official anthem by local artist Xoel López.

1 reports · 1 sources · Updated Jul 21, 11:07 AM UTC

The Athletic (TA) analyzes the complex relationship between Zinedine Zidane and Didier Deschamps as Zidane is widely expected to succeed Deschamps as head coach of the French national team on September 1. Deschamps, a decorated captain and coach who led France to World Cup glory, announced his resignation in Miami, citing an oppressive environment. Zidane, who has been away from top-level football for five years, deliberately avoided the spotlight during the 2026 World Cup, attending matches only as a father to support his son Luca. His silence is seen as a strategic show of respect for Deschamps and the players. Zidane, a legendary player and former Real Madrid coach with three consecutive Champions League titles, has expressed his deep desire to coach France. The handover is emotional, with the French Football Federation hoping Deschamps leaves with dignity. Zidane is expected to inject more flair into the squad, though commercial conflicts (Nike vs. Adidas) and coaching staff changes, including the potential addition of goalkeeper Fabien Barthez, need resolution.

1 reports · 1 sources · Updated Jul 21, 06:10 AM UTC

A survey by TEX+ (formerly Texprint) of 59 UK textiles graduates reveals a significant disconnect between education and employment in the textile industry. Despite ongoing skills shortages, 56% of graduates are not working full-time in the sector, 36% hold multiple jobs to sustain themselves, and 17% are still seeking their first industry role. Graduates describe the industry as a 'secret club' that relies heavily on professional networks and prior experience, with companies unwilling to train new entrants. TEX+ chair Jeremy Somers emphasizes the lack of accessible routes into the industry, not a lack of talent. The article also reports on the TEX+ 2026 prizes, which awarded financial support, placements, and exhibition opportunities to exceptional graduates, with past winners going on to work with brands like Nike, Chanel, and Liberty.

1 reports · 1 sources · Updated Jul 20, 11:54 AM UTC