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Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout
191–200 of 418 posts
Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout
#192Earlier quoted context omitted.
Allbirds never made serious running shoes. Hoka grew out of the ultra running scene and broadened their offering.. On are European and went hard with their unusual sole design.
Hoka has a fairly unusual corporate history. They were founded in 2009 in Annecy, France. (Yeah, read that twice. No hate on Annecy, but that is a mega brand being started from a tiny French city!) Then in 2013, they were acquired by California-based Deckers Brands which is also the owner of UGG and Teva. The real question: How did they become the Lululemon of casual sneakers? Just like lots of women who don't do yog…
I see a lot more of ON being the sneaker brand for people who don't look like they exercise that much. I exercise regularly and got Hoka Clifton 10s for running and daily walking and they are hands-down the best shoes I have had for that purpose. So much so that I immediately bought a second pair so I can alternate between them each day to hopefully keep them lasting longer. I tried on loads of different brands in the running shop and the Clifton 10 wides were definitely the best for my feet, despite my initial assumption that I would prefer ON cloud runners.
Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout
#193Earlier quoted context omitted.
> In my entire life it felt like the Nike/Adidas duopoly was unbreakable, and then it felt suddenly that Hoka was everywhere. Man, I'm in such different circles than everyone. I've never heard of Hoka and I don't know any sneakerheads. Everyone I know is into Keens, Toms, or Sketchers.
Hoka is everywhere amongst runners in Australia; it got noticeable marketshare very quickly. I think they actively do trial sessions with public running groups?
> I think they actively do trial sessions with public running groups?
Probably, they certainly do in the UK
Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout
#194All I know is the "ON" shoes are easy to recognise on the street due to their completely bizarre soles, even for non shoe enthusiasts. Look even I didnt realize the N for new Balance was different for the N for Nike for like decades.
The focus on running by Hoka and ON, on the street, and IMO the "low quality" of the collectible Jordans, apparently were the deathknell.
But this is armchair speculation.
Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout
#195A very large part of this is simply that Nike was trading at an extremely aggressive valuation a few years ago.
The business is obviously struggling and while some of the decline is related directly to that, the stock collapse mostly attributable to investors rerating NKE from a safe stock with steadily growing profits, to something more uncertain that requires a lower multiple.
Another thing I'll note is that historically Nike was always primarily a sports company focused on shoe technology. And arguably they are the best in that category. But in the last decade they also seemed to become a ubiquitous fashion brand. So much so that a few years ago almost everyone I knew were wearing Nike's casually, for sport and even in the office. Whenever something becomes so popular that even grown men are wearing them to the office, you know it won't remain in fashion for long.
Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout
#196I am surprised how no one is mentioning how their sneakers dissolves in a couple months? Last store Nike sneaker I bought was 4 years ago. $120 or something and within 2 months it has become unwearable. Since then I only buy new balance from an outlet so the price remains below $100.
Still the last new balance I got are wearing out fast and I am on the look for a newer brand.
I am actually surprised they are still in business and making sales.
Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout
#197The article has one heading which is "Why is Nike dropping?"
But to me when looking at that graph the question is: what in the world happened in 2020-2021 to make it go up that much? The graph looks like some kind of crypto scam or AI hype, but neither makes any sense for a shoe company. Can anyone explain the rise?
Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout
#198Earlier quoted context omitted.
Hoka has a fairly unusual corporate history. They were founded in 2009 in Annecy, France. (Yeah, read that twice. No hate on Annecy, but that is a mega brand being started from a tiny French city!) Then in 2013, they were acquired by California-based Deckers Brands which is also the owner of UGG and Teva. The real question: How did they become the Lululemon of casual sneakers? Just like lots of women who don't do yog…
Hoka was founded by former Salomon employees, why would they want to move from Annecy?
Indeed, Annecy is gorgeous and pretty close to some of the largest ski areas on the planet?
Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout
#199Earlier quoted context omitted.
> In my entire life it felt like the Nike/Adidas duopoly was unbreakable, and then it felt suddenly that Hoka was everywhere. Man, I'm in such different circles than everyone. I've never heard of Hoka and I don't know any sneakerheads. Everyone I know is into Keens, Toms, or Sketchers.
Hoka blew up in the running space, like, ten+ years ago. The first Cliftons were pretty novel for being extremely plush. Light-ish weight maxi shoes weren't really a thing before Hoka popularized them. Now every running shoe brand offers something in that space. More recently I think they've been adopted by the "active retiree" crowd? They're nice to walk in. (I owned some of the original Cliftons myself. Did not lov…
Yes, for running mountain centuries and ultras.
Karl "Speedgoat" Meltzer broke the Appalachian Trail record in them, and whoever was doing marketing then really blew a big bubble with that result.
Trad brands didn't stand a chance against that sole and backstory.
https://thewalkahead.com/2016/09/21/karl-meltzer-crushes-at-...
https://www.outsideonline.com/outdoor-gear/run/clown-shoe-th...
Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout
#200Earlier quoted context omitted.
Can I ask what you switched to? I also spent 15 years running in Nikes, mostly Structure, Pegasus, Invincible 3. I tried to stop buying so many american products 2 years ago and went for a pair of On's which are now reaching the end of their life. I can't say I'm super happy with the On's like I was with my Nikes. Might just go back
For actually running (as opposed to just casual use), Nike was never actually my first choice. I used Brooks in the past, and recently Hoka - both of which I think are great shoes. Unfortunately both are US based. For a non-US company, maybe give Asics (Japanese brand) a look? They never really fit me right personally, but I know they are popular amongst runners. And just to clarify - I don't think any of the brands…
i bought a pair of new balances wide shoes and wont be going back to nike