Nike Drops Caitlin 1s as Earnings Loom and Stock Falls 44%

Yahoo Finance··US·Read original
2▲1 ▼1Impact / 5
Summary · why it matters

Nike released WNBA star Caitlin Clark's first signature shoe, the Caitlin 1s, on the same day the company reports earnings after the close of trading. Earnings and revenue are both predicted to decline, and the stock is down 44% this year as CEO Elliot Hill approaches his third year with a turnaround still pending. The company has been removed from the S&P 100, Converse revenue has fallen for 13 straight quarters, and Kylian Mbappé defected to On, while the Caitlin 1s are being viewed as the potential catalyst Nike needs. Nike also recently added Alexandra Arnaud to its board.

Impact on assets 2

Consumer Discretionary± Mixed · 2 stocks
Nike Inc
NKE
▼ NegativeCapitalDemandrelevance

Nike reports earnings after the close with both earnings and revenue predicted to decline, and the stock is down 44% this year.

On Holding Ltd
ONON
▲ PositiveCompetitionrelevance

Kylian Mbappé defected from Nike to On, a competitive gain for On.

Off-coverage companies 1

Converse Inc.Private▼ Negative
Demandrelevance

Converse revenue has fallen for 13 straight quarters.

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