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Nike plans to cut an undetermined number of jobs and establish a new campus in India as it seeks to accelerate a turnaround following another downcast quarter.Nike plans a new campus in Bengaluru, India, which will represent "a long-term investment in new capabilities and talent to strengthen how we serve athletes…
Nike is cratering on earnings while rivals Lululemon and On Holding barely flinch, raising a pointed question about whether the sportswear giant is fighting a problem unique to itself or simply the first to feel an industry-wide reckoning.
Nike shares plunge 9% as slower turnaround, weak China sales and restructuring plans raise concerns over revenue and potential job cuts.