Nike to cut 1400 jobs and reduce trainer styles in restructuring
Nike to cut 1400 jobs and reduce trainer styles in restructuring
Nike to slash 1400 jobs, cut sneaker styles in shakeup
16 June, 2017, 05:35
Polen Capital Management LLC raised its position in shares of Nike by 5.8% in the fourth quarter. Northern reported 20.07M shares or 0.31% of all its holdings. The Rosenblum Silverman Sutton S F Inc holds 37,437 shares with $1.90M value, down from 52,847 last quarter. It also upped Ii (NASDAQ:IIVI) stake by 23,500 shares and now owns 55,000 shares. 12,387 were accumulated by Caisse De Depot Et Placement Du Quebec.
Shares of Nike fell 2% to $53.54 on a day when the Dow is down 0.35% and the S&P 500 has dropped 0.6%. Davidson Inv Advsr invested 0.13% of its portfolio in Nike Inc (NYSE:NKE). Intrust Financial Bank Na reported 5,036 shares. Mai Capital holds 0.35% or 93,375 shares. Architects stated it has 4,596 shares. S&P Research maintained Nike Inc (NYSE:NKE) rating on Monday, September 28. Macguire Cheswick & Tuttle Invest Counsel Limited Liability Corp holds 1% or 95,335 shares in its portfolio.
Investors wait Nike Inc (NYSE:NKE) to report on June, 27. its quarterly earnings Wall Street analysts expect $0.49 earnings per share, $0.00 or 0.00 % from last year's $0.49 same quarter earnings. Epoch Investment Partners Inc acquired 40,127 shares as Nike Inc (NKE)'s stock declined 8.78%. Jpmorgan Chase holds 0.03% or 2.33M shares. On Friday, March 24 the insider LECHLEITER JOHN C bought $56,301.
Condor Capital Management decreased its stake in Nike Inc (NKE) by 32.59% based on its latest 2016Q4 regulatory filing with the SEC. A stock rating will usually tell the investor how well a stock's market value relates to what analysts believe is a fair value for the stock, based on an objective evaluation of the company. Sei Invests Com reported 0.17% in Nike Inc (NYSE:NKE).
But a shift to online shopping and the demise of traditional sporting goods chains such as Sports Authority has pinched the company and USA rival Under Armour Inc. Van Hulzen Asset Management LLC now owns 52,085 shares of the footwear maker's stock worth $2,742,000 after buying an additional 11,285 shares during the period. Nike had 70,700 employees as of May 31, 2016. It has underperformed by 25.94% the S&P500.
Philadelphia Trust Company increased Laboratory Corp America Hldgs (NYSE:LH) stake by 12,379 shares to 17,274 valued at $2.22 million in 2016Q4. It also reduced its holding in Honeywell Intl Inc. Thematic Prns Ltd Liability Com has 3.67% invested in Nike Inc (NYSE:NKE).
NIKE, Inc is engaged in the design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. Goldman Sachs downgraded Nike Inc (NYSE:NKE) on Wednesday, December 2 to "Buy" rating. Nike's dividend payout ratio (DPR) is presently 30.00%. Argus Research maintained the shares of NKE in report on Tuesday, September 29 with "Buy" rating. Nike Inc. had 135 analyst reports since July 29, 2015 according to SRatingsIntel. The firm has "Outperform" rating by Credit Suisse given on Friday, September 25. Analyst's mean target price for NKE is $62.74 while analysts mean recommendation is 2.20.
Why Nike is releasing these warm-weathered Foams in the middle of June instead of in the Fall or Winter baffles the mind, but we don't think that will stop sneakerheads from scooping up a pair this week. The company was maintained on Wednesday, March 23 by Morgan Stanley. The company was maintained on Thursday, April 28 by Stifel Nicolaus. Canaccord Genuity maintained the shares of NKE in report on Tuesday, September 22 with "Hold" rating. Piper Jaffray Companies reissued a "neutral" rating and set a $51.00 price objective on shares of Nike in a report on Thursday, March 16th.
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The majority of the eliminated positions are from the corporate offices at the headquarters in Hoffman Estates , Illinois. That requires the company to optimize its store footprint as well as operate an organization that is simpler and leaner.
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