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Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

fortune.com

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Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

#271

Post by sushibowl »

jarym wrote: post #262
nemothekid wrote: post #11

Nike's destruction over the past 5 years was really surprised and until I read up about the whole "direct to consumer" fiasco it really helped me understand another trend I was a bit confused about. About 2-3 years, it felt like, out of nowhere everyone was wearing Hoka and On brand sneakers. In my entire life it felt like the Nike/Adidas duopoly was unbreakable, and then it felt suddenly that Hoka was everywhere. Wh…

We keep reading different variations of the same story over and over - different companies and industries but make the same fatal mistakes. 1) Let the 'spreadsheet people' take over, every decision is now allegedly based on 'data' 2) Kill the innovation because they can’t put a $ value on it 3) Rake in a few years of fast profits and soak in glory 4) Company implodes, CEO rides into the sunset, board that should have…

This is called The McNamara fallacy (if it can't be measured, it's not important).

This and Goodhart's law are the bane of pure data-driven decision making.

Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

#272

Post by bellgrove »

nemothekid wrote: post #11

Nike's destruction over the past 5 years was really surprised and until I read up about the whole "direct to consumer" fiasco it really helped me understand another trend I was a bit confused about. About 2-3 years, it felt like, out of nowhere everyone was wearing Hoka and On brand sneakers. In my entire life it felt like the Nike/Adidas duopoly was unbreakable, and then it felt suddenly that Hoka was everywhere. Wh…

Hoka makes excellent running shoes. How they managed to convince people they’re great every day shoes is a bit of a mystery to me.

Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

#273

Post by randusername »

boxed wrote: post #197

The 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?

Stimulus checks?

Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

#274

Post by emptyfile »

alexpotato wrote: post #219

There is a great article [0] that has some interesting points about this: - Nike used to be very "male coded" e.g. "Be like Mike" - So much so that they were one of the only companies where men bought more clothes than women - The powers that be wanted to go after the "Adjacent Whale" (explained in the article) that was the female consumer - They ended up alienating their core customer base while competing poorly wit…

[dead]

Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

#275

Post by BirAdam »

m000 wrote: post #134
branko_d wrote: post #51

Last month, I bought two pairs of sneakers: one was a full leather design made in Spain, the other was a leather/cloth combination (Italian design, I'm not sure where they are made). Both are comfortable, seem to be of very good quality and look premium. The price of these two pairs together was less then one Nike pair made of synthetic materials. This was in Novi Sad, Serbia. I don't know what's going on around the…

+1 for poor quality. New Nikes seem to be blatantly made to wear out in a short few years. I got a pair of Air Max 270 in mid 2021. By 2025, the outer sole was so worn off that the air-sole was exposed to the ground while walking. That happened with very light use: COVID + WfH + not used when away + not used at sports + not my only pair of shoes. I still buy Nike, but I go for classic models like Air Force, or Air 18…

I had the same experience with a pair of Nike Zoomfly Air. Bought in 2020, and they'd fallen apart by 2024 with extremely light use thanks to COVID and WfH. It was quite disappointing given the cost, and they had been quite comfortable shoes. Lately, I wear Brooks.

Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

#276

Post by tokai »

cadamsdotcom wrote: post #15

Personal anecdote I treated myself last year to some Nikes (Vaporflys) because they looked suave on a friend's feet.. Did 180km of training, maybe 5 weeks worth, and the soles utterly shredded. Couldn't put my foot down level, corners of the soles completely gone. Shoe store said that's what they're designed to do, no refund. Cost me about $2AUD per km. But it'll cost Nike a bit more than that.

Too much money and too little sense.

Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

#277

Post by Elte »

boxed wrote: post #197

The 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?

Supposedly the pandemic caused quite the running boom since it was the easiest sport to keep doing despite lockdowns. Combine that with a bunch of bored retail investors with stimulus checks... I don't know if this is the actual reason or not, but it seems like it might have had something to do with it.

Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

#278

Post by [deleted] »

legitster wrote: post #76
nemothekid wrote: post #11

Nike's destruction over the past 5 years was really surprised and until I read up about the whole "direct to consumer" fiasco it really helped me understand another trend I was a bit confused about. About 2-3 years, it felt like, out of nowhere everyone was wearing Hoka and On brand sneakers. In my entire life it felt like the Nike/Adidas duopoly was unbreakable, and then it felt suddenly that Hoka was everywhere. Wh…

> 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.

[deleted]

Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

#279

Post by jawilson2 »

loeg wrote: post #93
legitster wrote: post #76

Earlier 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…

I just posted something similar. I think Hokas are in Facebook territory now. My 75 year old dad has been wearing them for 3 years. We just hiked in Alaska, and every single person retirement age or older was wearing Hokas.

I wonder if this is a market signal to short Hoka; old people wearing them will be dead in <10 years, and no young person will be caught dead wearing them because it's an old person shoe. What is the Instagram of shoes?

Re: Nike exits the S&P 100 after 18 years and a $200B market-cap wipeout

#280

Post by blitzar »

legitster wrote: post #76
nemothekid wrote: post #11

Nike's destruction over the past 5 years was really surprised and until I read up about the whole "direct to consumer" fiasco it really helped me understand another trend I was a bit confused about. About 2-3 years, it felt like, out of nowhere everyone was wearing Hoka and On brand sneakers. In my entire life it felt like the Nike/Adidas duopoly was unbreakable, and then it felt suddenly that Hoka was everywhere. Wh…

> 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.

Everyone I know wears shoes.
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