Inti Pacheco

Jun 27, 2024 ... Runners say the sneaker giant has ceded market share to upstarts like Hoka, contributing to a sales decline in the latest quarter and muted ...

Sneaker giant is cracking down on customizers and designers like the Shoe Surgeon as it wages wider legal fights to defend its trademarks.

The CEO said the brand has suffered from executive turnover and strategy shifts, but more than half a dozen former executives said he was responsible for much of the turmoil and complexity.

Nike said John Donahoe will retire as chief executive and from the board. Elliott Hill, who retired from the sneaker maker in 2020, will succeed him.

Nike’s incoming chief is inheriting a demoralized workforce and a brand that has lost market share to rivals.

The sneaker giant’s quarterly sales fell 10% amid a hangover from Jordan releases.

Mexico has supplanted China as the main source of goods, but imports keep climbing.

The sneaker giant’s new CEO is trying to clear out inventory, pressuring retailer partners.

Cabinets made in China were rerouted through Malaysia and ended up in U.S. kitchens—sparking a Customs probe and splintering an American industry.

The shoe company has focused on comfort over cool—”we’re just a different player.”