Converse news and archive

Nike struggles amid sales slump and layoffs, forecasts margin pressure

Nike, a leading sports maker, is facing challenges in a year marked by declining sales and corporate layoffs, as it strives to regain momentum. The company's third-quarter results revealed a 9 percent revenue decrease to 11.3 billion dollars. The gross margin dropped by 330 basis points to 41.5 percent, net income fell 32 percent to 0.8 billion...

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After negative Q2, Nike's new CEO hints at turnaround plan

Nike’s second quarter revenues were 12.4 billion dollars, down 8 percent on a reported basis and down 9 percent on a currency-neutral basis compared to the prior year. Gross margin for the quarter decreased 100 basis points to 43.6 percent, while net income was 1.2 billion dollars, down 26 percent, and diluted earnings per share were 78 cents, a...

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Spring/summer 2025: Fashion and sports collaborations to remember

Fashion Month concluded last week with a high-profile show at Disneyland Paris by Coperni, bringing to an end the spring/summer 2025 season at the 'Big 4' fashion cities - New York, Milan, London, and Paris - where both established brands and emerging designers alike took to the runways. While numerous trends have surfaced, the sportswear...

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Nike posts steep revenue decline ahead of CEO transition

For the first quarter, Nike revenues of 11.6 billion dollars, were down 10 percent on a reported basis and 9 percent on a currency-neutral basis. On September 19, 2024, Nike’s board of directors appointed Elliott Hill as president and CEO of the company, effective October 14, 2024. "Nike's first quarter results largely met our expectations. A...

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Nike posts drop in Q4 revenues

Nike's revenues for the fourth quarter of 12.6 billion dollars, were down 2 percent on a reported basis and flat on a currency-neutral basis. Full year revenues were 51.4 billion dollars, up 1 percent on a currency-neutral basis versus the prior year. "While we are encouraged by our progress, our fourth quarter results highlighted challenges...

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Nike cuts revenue forecast, announces 2 billion dollars saving plan

For its second quarter, Nike, Inc. revenues were 13.4 billion dollars, up 1 percent on a reported basis compared to the prior year and down 1 percent on a currency-neutral basis. Cutting its outlook for the year ahead, the sportswear company said it expects revenue to rise 1 percent, down from its previous forecast of mid-single-digit percentage...

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Nike reports revenue and earnings growth in Q1

For its first quarter, Nike, Inc. reported revenues of 12.9 billion dollars, up 2 percent compared to prior year on a reported and currency-neutral basis. Gross margin for the quarter decreased 10 basis points to 44.2 percent and net income was 1.5 billion dollars, down 1 percent, while diluted earnings per share rose 1 percent to 94 cents. “Q1...

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Nike posts Q4 revenue growth but net income down 28 percent

For the fourth quarter, Nike Inc. revenues were 12.8 billion dollars, up 5 percent and up 8 percent on a currency-neutral basis. Net income for the quarter was 1 billion dollars, down 28 percent, and diluted earnings per share were 66 cents, down 27 percent. “Nike’s strong results make clear that our strategy is working,” said John Donahoe,...

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More changes at Nike as new Converse CEO announced

US sportswear giant Nike is continuing to reshuffle its leadership team, this time with the appointment of Jared Carver as the new CEO and president at footwear label Converse. Carver has worked for the past four years as the vice president and general manager of Converse’s North America business, where he was credited with unlocking “strong...

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Nike sales increase by 14 percent in Q3

For the third quarter, revenues for Nike, Inc. increased 14 percent to 12.4 billion dollars compared to the prior year and were up 19 percent on a currency-neutral basis. Revenues for the Nike brand were 11.8 billion dollars, up 14 percent on a reported basis and up 19 percent on a currency-neutral basis, with double-digit growth in North...

Fashion |In Pictures

Malachai Spivey’s Human Nature Worldwide makes NYFW debut

Emerging Brooklyn-based model and self-taught designer Malachai Spivey made his New York Fashion Week debut with a presentation for his Human Nature Worldwide autumn/winter 2023 collection. Spivey, who has dressed the likes of Lil Nas X, Aleali May, and Coi Leray, presented his AW23 collection at Converse’s flagship Soho store featuring...

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Nike Q2 revenues increase by 17 percent

US sportswear giant Nike has reported revenue of 13.3 billion dollars in the second quarter of the year, up 17 percent from a year earlier, or up 27 percent on a currency-neutral basis. Revenue at the Nike brand came in at 12.7 billion dollars, up 18 percent on a reported basis and up 28 percent on a currency-neutral basis, with strong growth...