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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

#321

Post by dzonga »

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…

or underestimating the value of partnerships.

nike thought they were the storefront. reality and history proved otherwise.

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

#322

Post by hyperlinerapp »

kenjackson wrote: post #253
spiderice wrote: post #56

Earlier quoted context omitted.

People on HN are, of course, going to pretend that moving from Michael Jordan to Dylan Mulvaney and whoever that overweight "Own The Floor" lady aren't a huge downgrade. Wearing Nike became kind of embarrassing.

Honestly, I suspect most people will have no idea about these ads. I know I don’t.

Maybe if you were hiding under a rock.

Even Jaguar was tremendously impacted by their woke ads.

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

#323

Post by WarmWash »

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…

Step 2.5 is "Start harvesting value by cannibalizing your own products (keep price high, cut quality), since there is nothing competitive in the pipeline."

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

#324

Post by nemothekid »

weinzierl wrote: post #182
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." You mention Adidas as if they were in the same boat with Nike. While Adidas suffered from the Kanye West disaster this was a one time blunder and they rebound quickly. in Europe I see On on the rise too, but Adidas is omnipresent.

In the US, Nike/Adidas were #1 and #2. Thats all I meant - I haven't seen any change in Adidas, if anything they are even more popular now and are probably the #1 sneaker brand I see in San Francisco. The Samba is incredibly popular, it's as salient to me as the "air force 1" used to be.

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

#325

Post by gamessucknow »

torben-friis wrote: post #79
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…

>Nike is simply too expensive for the (lack of) quality they have. I always go to buy Nike first after decades of conditioning. These past years I always return. Outer soles are of a recycled material that slips and feels like packaging material, the upper part is badly stitched and I've had two times where left and right shoes where slightly different size or shape. I swear Nike knockoffs are significantly better qu…

Not sure if I’ve always been too rough with my should, but last year I needed to get more shoes as I was particularly active hiking and fishing that summer.

I ended up going with an expensive pair that was supposed to have all sorts features including some nest waterproof material that I was excited for.

A year later the waterproofing has nearly all rubbed off and a hole has grown next to the toe. These shoes were like $200.

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

#326

Post by thevillagechief »

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.

I ran a half marathon this weekend. Maybe 70% of people, including myself, had Brooks. The rest were Hoka mostly Hoka and a mix of Nikes and Asics. I had never heard of Brooks until a few years ago when I googled best running shoes and went down a rabbit-hole that barely cared about Nike.

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

#327

Post by gedy »

> “We made meaningful structural improvements to lay the groundwork for our Sport Offense across our team culture, innovative product, brand strength, and how we serve consumers in our countries and cities,” Hill said in the report. “While we continue to face top-line headwinds, we’re encouraged by progress in performance product and are focused on consistent execution, improved profitability and scaling our wins to realize our full potential.”

Yikes this sounds like corporate bingo card nonsense.

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

#328

Post by throwaway2037 »

muse900 wrote: post #244
throwawayffffas wrote: post #234

Earlier quoted context omitted.

The price of any individual stock though is mostly determined by hype. Revenue and concrete performance plays a part but hype is very much a driving factor and hype is fickle.

Well tbh, hype does tell you something about future demand. It doesn't guarantee sales, but how excited people are about a product gives you an idea of how likely they are to buy it. I think Nike lost some of its cool while the competition got better. For me, the turning point was walking into a Nike store and thinking their prices were way too high for what I was actually getting. I reckon they'd be in a much worse…

    > And the stock market doesn't just look at today's revenue and performance. It also prices in what people expect to happen next.
Yes, I addressed this directly in my post. "Many Wall Street analysts will tell you that a stock price is the value of its future earnings growth."

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

#329

Post by gamessucknow »

Alien1Being wrote: post #10

They are welcome to make stuff that nobody wants. Weird designs, made poorly and disintegrating in months. But then the share price drops. ie: the market capitalisation drops. They then have to pay more money to borrow. Fewer investors are interested in giving them money. The business spirals into irrelevance like Ken Olsen's Digital Equipment Corporation. Restructuring happens Employees lose jobs. Restructuring happ…

Hopefully the execs get a nice golden parachute at least. Wouldn’t want them to face any consequences for their actions.

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

#330

Post by maxglute »

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.

I can't tell if Hoka crossed the into fashion athleisure mainstream, there's a lot of fit people wearing them in cities, but can't tell if as fashion statement or back from run.
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