OpenTube

Breaking Down Nike's 'Disappointing' Earnings

Bloomberg Television

61,807 views

CFRA Equity Analyst Zachary Warring discusses Nike’s latest quarterly results and strategic shift. Speaking on "Bloomberg The Close," Warring says that despite maintaining a buy rating, he calls the quarter and full-year guidance disappointing, noting double-digit revenue declines and earnings per share below his expectations.
--------
More on Bloomberg Television and Markets

Like this video? Subscribe and turn on notifications so you don't miss any videos from Bloomberg Markets & Finance: https://tinyurl.com/ysu5b8a9
Visit http://www.bloomberg.com for business news & analysis, up-to-the-minute market data, features, profiles and more.

Connect with Bloomberg Television on:
X: Twitter: BloombergTV
Facebook: Facebook: BloombergTelevision
Instagram: Instagram: bloombergtv

Connect with Bloomberg Business on:
X: Twitter: business
Facebook: Facebook: bloombergbusiness
Instagram: Instagram: bloombergbusiness
TikTok: https://www.tiktok.com/@bloombergbusi...
Reddit: Reddit: bloomberg
LinkedIn: LinkedIn: bloomberg-news

More from Bloomberg:
Bloomberg Radio: Twitter: BloombergRadio

Bloomberg Surveillance: Twitter: bsurveillance
Bloomberg Politics: Twitter: bpolitics
Bloomberg Originals: Twitter: bbgoriginals

Watch more on YouTube:
Bloomberg Technology: @bloombergtechnology
Bloomberg Originals: @business
Bloomberg Quicktake: @bloombergquicktake
Bloomberg Espanol: @bloomberg_espanol
Bloomberg Podcasts: @bloombergpodcasts

20 Comments

@fidanasimpson5465 4 days ago

Stop charging $200 for shoes. Stop charging over $70 for the cheapest shoe with inferior materials.

@KaizerSoce888 4 days ago

kids can't afford 200 sneakers ... shut down wasteful stores and make products that people want to buy, not stuff that's gonna end up in outlets ....

@nklundy 4 days ago

As it turns out, when the bottom 50% of consumers have their spending power drastically reduced, they stop spending. WHO WOULD'VE GUESSED?

@Uly_24 3 days ago

This is what happens when you listen to consulting folks

@leonardoromero8 4 days ago (edited)

Each time i go to the outlet Nike gear is the most expensive and i don't feel like I am getting anything dirt cheap or a deal, so I end up getting shoes from the competition

@JoeAcapella 4 days ago

This analyst is beyond disinterested , the sound of his voice is like someone died.

@apVA2NC 4 days ago

Nike hurt its own brand by prioritizing their frustrating SNKRS app and direct-to-consumer sales. Pulling their products from retail stores left the door wide open for Hoka and On to take over.

@brewsandbass5572 4 days ago

New Balance, Sketcher, Crocs, and a bunch of others are killing them

@MBoyer-ng6ok 4 days ago (edited)

When 8-10 shares buys a pair of sneakers, I am buying (the shares not the sneakers).

@Anicca108 4 days ago

This is what happens when you alienate the 50% of your customer base that you previously spent 3 decades aggressively marketing to.

@singerbox445 4 days ago

Why? Well, while the performance of clothing brands has generally been lackluster, Nike actually put up a solid showing—especially considering that this level of performance was what had been anticipated.

@MBoyer-ng6ok 4 days ago

And old rich people really just want comfortable slip on walking shoes that are versatile and durable. . . So Nike could just make the "Air Geezer" for old er people to to slip on to walk around the park or get up and get the mail (and just be better than Sketchers) and they'd make another billion. . .

@m1n1sw00sh 3 days ago

Not sure why you would reference a Caitlin Clark line, which only adds peanuts to a the 11B revenue. They lost their streetwear appeal on the ambassadors, something you would want to wear of the field/court. And when they do they produce soo much colorways that people get sick of them.

@leisurefarm 3 days ago

And nike needs a way to help customers clear their older shoes so that they have more space and money to buy more stuff from them

@Connect662 3 days ago

I think it's actually a sell... I think NIke hits $18. No one I know buys Nike anymore. Maybe the sneaker heads, but regular folks at the gym are wearing Hoka, On and Brooks.

@KingRaiders 4 days ago

Jordan's are the only Nike shoe that are true to size. All the other Nikes shoes have a tight toe box it makes wearing the shoes uncomfortable.

@CiaoBello21 1 day ago

Choosing carelyn clark over Mbappe as your brand sponsor is madness.

@sun1-t8s 4 days ago

엘리엇 저놈도 문제있다 해임시켜라
저놈 취임했을때 80달러였다
지금 32달러다
주가 관리 안하냐?
이사회도 다 해임해라

@van760909 3 days ago

They still don’t know what their problem are😂

@winsonip4447 3 days ago

Nike can thank Washington for getting wiped out in China. The 2021 Xinjiang cotton backlash triggered a massive consumer boycott that sliced Nike's market share nearly in half, from 30% down to 16%. It turned into a political disaster the brand still hasn't recovered from.