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Nike Hires Amazon Executive as Chief Technology Officer

Nike, Inc. recruited Muge Erdirik Dogan, a longtime fashion executive at Amazon, as chief technology officer. Jenny Freshwater, most recently Amazon’s vice president of traffic and marketing technology, will replace Dogan as VP of Amazon Fashion & Fitness.

Nike Accuses New Balance, Skechers of Patent Infringement

Nike filed federal lawsuits against New Balance and Skechers, charging several New Balance shoes and Skechers sneakers with misusing the brand’s patented Flyknit technology for running, soccer and basketball shoes.

EXEC: Wall Street Lukewarm on Nike’s Fiscal Q1 Results

Nike’s shares rose 6.7 percent on Friday after the company reported earnings in the fiscal first quarter ended August 31 handily topped expectations on stronger-than-expected margins, but many analysts were non-plussed, remaining concerned about sluggish growth trends, particularly in the North American wholesale channel.

Nike Misses Revenue Estimates on Weak North America; Profits Beat

Nike, Inc. reported profits slipped 1 percent in the fiscal first quarter ended August 31. Sales grew 2 percent on a currency-neutral basis as double-digit gains in China helped offset a 1 percent decline in North America. Earnings came in well above analyst targets but sales were slightly below.

EXEC: Jefferies Downgrades Nike, Foot Locker on Slowdown Concerns  

Analysts at Jefferies downgraded Nike, Foot Locker and Urban Outfitters as survey data shows the resumption of payments on student loans may force families to limit their spending on apparel and sneakers. Nike’s sales are also expected to be pressured by lean inventory disciplines across wholesale channels and macro headwinds facing China.

Nike Extends Refurbished Program To Nike.com

Nike extended its Refurbished program to its website, offering discounts on refurbished sneakers. The company introduced the program at select Nike and Nike Factory Outlet stores in April 2021 to support its broader Move to Zero climate change initiative.

Nike Rise Store to Open in Birmingham, England

Nike plans to open a Nike Rise concept store in Birmingham, its second to open in the U.K. and the first outside of London, according to Hammerson, the British property development and investment company that owns Bullring.