Approximately 700 employees at Nike's world headquarters in Beaverton, Oregon will be impacted by its "permanent reduction of workforce" by Jan. 8, 2021, according to an updated WARN notice issued to the Oregon Higher Education Coordinating Commission's Office of Workforce Investments on Monday.
In the early 1970s, the shop had become one of the earlier Nike dealers in New York City after Moe Stein found the company at a trade show.
Nike reported a net profit of $1.5 billion profit, up 11% from the same 2019 quarter
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The Nike (M) collection is scheduled to debut on Sept. 17.
Nike expressed its support for professional athletes in the NBA and WNBA on Thursday as players failed to take the court for their games in protest of the Jacob Blake shooting in Wisconsin.
As part of Nike's Consumer Direct Offense strategy, the company will no longer sell to nine major wholesale retail partners including Belk, Dillard’s, Zappos, Boscov’s, Bob’s Stores, Fred Meyer, EBLens, VIM and City Blue, according to a note to investors by Susquehanna Financial Group analyst Sam Poser.
The employees who made the requests to company management were members of a task force commissioned to help find answers to the clothing giant's internal diversity problems.
Nike, after disclosing a rare money-losing quarter in June, announced layoffs that will eliminate at least 500 jobs at the company’s world headquarters in Oregon, according to reports.
The NBA reopened at the Disney Wide World of Sports complex in Orlando, Florida, on Thursday and as games tipped off, most players chose to kneel during the national anthem to protest racial injustice and police brutality.
Nike said Tuesday it’s withdrawing plans to make soles for its Nike Air shoes in a Phoenix suburb because of the coronavirus pandemic.
A Nike spokesperson told FOX Business in a statement that Leonard has "decided to leave the company to pursue other interests"
The company expects one-time termination costs related to the changes of $200 million to $250 million.
Zappos Adaptive launched its new program, the “Single and Different Size Shoe Test,” on Tuesday.
Digital sales for the company shot up 75 percent in June.
Nike has been the official supplier of NBA jerseys since the 2017-18 season.
Nike took over as MLB's supplier for the 2020 season.
Nike has been the NFL's official uniform supplier since 2012.
Companies have stepped up pressure on the franchise since earlier this week, when a group of 87 investment firms and shareholders demanded that PepsiCo, Nike and FedEx cut ties with the team unless officials agree to change the name.
Searches on Nike’s website for team apparel yielded no results on Thursday night.