Converse news and archive

Nike posts drop in Q4 revenues

Nike's revenues for the fourth quarter of 12.6 billion dollars, were down 2 percent on a reported basis and flat on a currency-neutral basis. Full year revenues were 51.4 billion dollars, up 1 percent on a currency-neutral basis versus the prior year. "While we are encouraged by our progress, our fourth quarter results highlighted challenges...

ManagementFeatured

Nike cuts revenue forecast, announces 2 billion dollars saving plan

For its second quarter, Nike, Inc. revenues were 13.4 billion dollars, up 1 percent on a reported basis compared to the prior year and down 1 percent on a currency-neutral basis. Cutting its outlook for the year ahead, the sportswear company said it expects revenue to rise 1 percent, down from its previous forecast of mid-single-digit percentage...

ManagementFeatured

Nike reports revenue and earnings growth in Q1

For its first quarter, Nike, Inc. reported revenues of 12.9 billion dollars, up 2 percent compared to prior year on a reported and currency-neutral basis. Gross margin for the quarter decreased 10 basis points to 44.2 percent and net income was 1.5 billion dollars, down 1 percent, while diluted earnings per share rose 1 percent to 94 cents. “Q1...

ManagementFeatured

Nike posts Q4 revenue growth but net income down 28 percent

For the fourth quarter, Nike Inc. revenues were 12.8 billion dollars, up 5 percent and up 8 percent on a currency-neutral basis. Net income for the quarter was 1 billion dollars, down 28 percent, and diluted earnings per share were 66 cents, down 27 percent. “Nike’s strong results make clear that our strategy is working,” said John Donahoe,...

ManagementFeatured

More changes at Nike as new Converse CEO announced

US sportswear giant Nike is continuing to reshuffle its leadership team, this time with the appointment of Jared Carver as the new CEO and president at footwear label Converse. Carver has worked for the past four years as the vice president and general manager of Converse’s North America business, where he was credited with unlocking “strong...

ManagementFeatured

Nike sales increase by 14 percent in Q3

For the third quarter, revenues for Nike, Inc. increased 14 percent to 12.4 billion dollars compared to the prior year and were up 19 percent on a currency-neutral basis. Revenues for the Nike brand were 11.8 billion dollars, up 14 percent on a reported basis and up 19 percent on a currency-neutral basis, with double-digit growth in North...

Fashion |In Pictures

Malachai Spivey’s Human Nature Worldwide makes NYFW debut

Emerging Brooklyn-based model and self-taught designer Malachai Spivey made his New York Fashion Week debut with a presentation for his Human Nature Worldwide autumn/winter 2023 collection. Spivey, who has dressed the likes of Lil Nas X, Aleali May, and Coi Leray, presented his AW23 collection at Converse’s flagship Soho store featuring...

ManagementFeatured

Nike Q2 revenues increase by 17 percent

US sportswear giant Nike has reported revenue of 13.3 billion dollars in the second quarter of the year, up 17 percent from a year earlier, or up 27 percent on a currency-neutral basis. Revenue at the Nike brand came in at 12.7 billion dollars, up 18 percent on a reported basis and up 28 percent on a currency-neutral basis, with strong growth...

ManagementFeatured

Nike's Q1 sales up but net income declines by 22 percent

First Quarter revenues at Nike, Inc. increased 4 percent to 12.7 billion dollars compared to the prior year and were up 10 percent on a currency-neutral basis. However, gross margin decreased 220 basis points to 44.3 percent, while net income was 1.5 billion dollars, down 22 percent and diluted earnings per share were 93 cents, decreasing 20...

ManagementFeatured

Nike posts flat sales growth, earnings drop

Nike reported fourth quarter revenues were 12.2 billion dollars, down 1 percent compared to prior year and up 3 percent on a currency-neutral basis. Revenues for the Nike brand were 11.7 billion dollars, down 1 percent on a reported basis and up 3 percent on a currency-neutral basis, led by 20 percent growth in EMEA. Revenues for Converse were...

Fashion |In Pictures

Converse unveils playful collaboration with Peanuts

Comic strip Peanuts is continuing its fashion collaborations with a limited-edition playful footwear Converse collection for adults and kids launching globally on May 24. Converse celebrates humour and positivity with its Peanut collection that includes Converse sneakers, clothing, accessories, and customisable Chucks. The collaboration aims to...

ManagementFeatured

Nike's Q3 sales jump, dividend up by 12 percent

Nike has reported a 5 percent year-over-year increase in revenues to 10.9 billion dollars in the third quarter, or an 8 percent increase on a currency-neutral basis. Revenues for the Nike brand were 10.3 billion dollars, up 8 percent compared to prior year on a currency-neutral basis, led by 13 percent growth in EMEA. Revenues for Converse were...