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Nike to cut 1,400 roles as ‘Win Now’ strategy enters next phase
Sportswear giant Nike has confirmed another series of layoffs as it continues to move forward with its ongoing ‘Win Now’ turnaround strategy. The company confirmed to FootwearNews (FN) that approximately 1,400 operations roles have been cut across North America, Europe and Asia, representing less than 2 percent of Nike’s global team. The...
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Milan: Nike unveils “Air Lab” for design innovation
Nike and the Dropcity architecture centre are launching the “Air Lab” in Milan, a new innovation and experimentation hub for the creative scene. As part of Milan Design Week, the sportswear giant is currently offering a first look at the project. Nike announced on Sunday that it will be open to the public from autumn as a permanent part of...
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Shares in focus: Adidas and Puma defy Nike's influence amid supportive market environment
On Wednesday, shares in Adidas and Puma defied the disappointing outlook from US competitor Nike. While Nike's stock slumped by 10.5 percent to 47.25 dollars in pre-market US trading, the shares of the two German sportswear manufacturers recovered in a very strong overall market. In the Dax, however, Adidas shares rose by a below-average 0.6...
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