Nike Reports Profit Loss of $790 Million in Q4 and a Year-Over-Year Sales Decline of 38% (46% in U.S.)…

There is a lot of weird financial data in/around Nike that is coming to a head.  For those who track issues closely, Nike is using the COVID-19 issues to hide the Kaepernick effect.

Everyone remembers Nike went all-in on their social justice model and made a corporate decision to make Black Lives Matter activist Colin Kaepernick the image of their brand.

In their latest financial results Nike is reporting a net quarterly loss of $790 million…. That’s a big deal. However, given the defensive excuses over the COVID-19 shutdown, that loss alone isn’t the big story.  Their year-over-year sales are down 38%, which tells us the downward spiral has been happening for a lot longer than a quarter.

How bad were their results?  To give you some perspective most financial analysts in the industry were looking for a profit target around seven cents per share.  The result Nike reported was a loss of 51 cents per share.  That is a massive disparity.

In my opinion, having tracked MAGA and Anti-MAGA companies and effects, what Nike was doing in much of last year was hiding and deferring income losses due to sales declines.  They did this because the larger goal was to hide the impact of their branding shift. Nike didn’t want people to know how much backlash they faced, so they used every mechanism possible including inventory manipulation to avoid showing losses.

However, as with all revenue and profit hiding schemes inside large corporations (and there are many that can be used) eventually you run out of ways to hide profit losses as a result of top-line collapses.  Eventually inventories are trued up; eventually supplies need to be replenished; eventually extended -and or renegotiated- vendor payments need to be made; eventually it’s going to catch up to you.  In my opinion, this is what’s happened.

Total revenue was down 38% to $6.31 billion from $10.18 billion a year ago. Sales in North America were down 46% (link)

Nike saw the COVID-19 economic contraction as a way to hide a top-line and bottom-line  collapse that has very little to do with the coronavirus.

COVID-19 is their cover, not the principal cause.

Evidence to support my review found in the action that Nike takes after releasing their $790 million profit loss.  Remember, this bottom line loss is the direct result of the top line collapse.  The raw material doesn’t cost more (it’s actually less); inflation didn’t chew up their import pricing (it’s actually less); they are buying in dollars which are actually stronger; energy costs are not higher (they are actually less) and Nike has not been hurt by tariffs because Chinese devaluation of currency (beyond the tariff cost) has actually helped raise the profit equation for many importers.  This loss is all about the top line.

Nike immediately responds by saying (emphasis mine):

Nike CEO John Donahoe announced in a company-wide email on Thursday that the brand will soon be “forced to make some difficult choices” that will “likely result in a net reduction of jobs.

The email, viewed by Complex, comes after Nike posted a net loss of $790 million in its latest quarterly earnings report on the same day. The company attributed the loss in part to the strain COVID-19 placed on its business globally.

[…] Donahoe ensured that the reductions in staff would “not be done for cost reasons.” The CEO also said they were not a response to the coronavirus pandemic.

Instead, he wrote, the restructuring is a remedy to the “overburdened matrix” the company has become. He said the planned cuts are meant to simplify how Nike works and increase speed and responsiveness.

The email offers few details with respect to who among the brand’s thousands of employees will be affected.

It mentions that workers at Nike’s retail stores, distribution centers, and manufacturing facilities are not expected to be cut. But Donahoe also wrote in it that Nike does “not yet know how many jobs will be reduced, nor who will be specifically impacted.”

The layoffs are scheduled to happen in phases, the first one concluding in late July and the last one in the fall. (more)

Notice how everything in those statements seems to contradict itself and provides no clarity as to why such a stunning loss would be recorded?   Again, my hunch is that Nike has been playing ‘hide the loss’ ever since their stupid business decision to rebrand as apparel only for social justice warriors.

Nike purposefully cut-out half the population of their largest market in order to virtue signal to their leftist peers and retain cocktail party invitations.  Consequences from those painfully stupid -and brutally political- mistakes cannot be avoided forever.  That’s the larger background.

Here’s an example of a company that will not put themselves in the same position of vulnerability; and it is not coincidental their announcement comes out immediately following the Nike report.  Unilever is backing away from digital advertising:

UNILEVER – The complexities of the current cultural landscape have placed a renewed responsibility on brands to learn, respond and act to drive a trusted and safe digital ecosystem.

Given our Responsibility Framework and the polarized atmosphere in the U.S., we have decided that starting now through at least the end of the year, we will not run brand advertising in social media newsfeed platforms Facebook, Instagram and Twitter in the U.S. Continuing to advertise on these platforms at this time would not add value to people and society. We will be monitoring ongoing and will revisit our current position if necessary. (read more)

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342 Responses to Nike Reports Profit Loss of $790 Million in Q4 and a Year-Over-Year Sales Decline of 38% (46% in U.S.)…

  1. Lucille says:

    Never forget these companies that demand President Trump be censored spend their days despising all American-first patriots. We knew this election was going to be difficult. 2016 was ugly, but 2020 will quadruple that.

    If we died en masse tomorrow in some horrible, grizzly manner, the progs/libs/lefties would all rejoice. Never support an entity that hates you. Find alternatives or go without.

    Boycott every company which lies about our President AND US!

    Liked by 29 people

  2. Sachmo says:

    No problemo, Nike can either cut the wages of the workers in Bangladesh down to a $1 a day or raise the price of the sneakers sold to inner-city kids to $500. Nike makes the ancient Egyptians look like social justice warriors.

    Liked by 3 people

  3. hokkoda says:

    How do you turn a $10B company into a $6B company in a year? The same way you ruin a football team, apparently: by hiring Colin Kaepernick.

    Nike has a huge online presence and their merchandise is ubiquitous online. All the major sport goods retailers, Amazon of course, etc. This feels like really two things. Kaepernick, as illustrated by Sundance. I suspect also “Made in China” boycotts are rising. I actively research and avoid a product if the label is “Made in China”.

    Every so often, something slips through. Amazon works pretty hard to hide this from you, and you have to do web searches sometimes. I needed new swim trunks for my summer vacay and had two good options. Sadly, couldn’t find a Made in USA brand (online retailers don’t let you sort products this way). So, it was a choice of Bangladesh or China. Bangladesh was right there on the site. I had to do some web searches to find the other one…which turned out to be China. Bangladesh FTW.

    I think if Pres. Trump wanted to talk about China in his rallies, he could talk about a proposal to require online retailers to explicitly state the country of origin and consumers should be able to sort based on where the products are made. That would @#$%ing ruin China.

    Liked by 18 people

  4. pigletrios says:

    Why would this be some sort of surprise to Nike? They sell a product that’s expensive as hell, assembled with cheap………dare I say it……..slave labor in China…and market it to black America…..and hook themselves to that dip wad Colin. Sorry they have been kind of busy……..stealing Nike shoes in the name of Racial Justice………..Why the heck pay for them?

    Liked by 8 people

  5. Perot Conservative says:

    Good. Boycott Nike & the NFL.

    Liked by 6 people

  6. TheWanderingStar says:

    I’m telling these companies that if they virtue signal for this BS that they have seen the last of my money. I’ll find someone else who doesn’t feel the need to be politically correct or I’ll do without.

    Liked by 6 people

  7. Madeline Huffnagle says:

    When all this stuff started, I decided to never by Nike products.

    Liked by 8 people

    • Harvey Lipschitz says:

      Our daughter was heptathlon at a big school. She had her car trunk packed with free Adidas shoes. School “contract” is far over 100 MILLION dollars for next decade. They pay that as a fixed cost. Even if the shoe sales crash.

      Nobody in our family has ever owned a Nike pair. Never bought a pair of Adidas.

      The sponsor costs are billions of dollars and The Kappernicker name hurts the brand.

      On the social justice line, they do not sell shoes which cost over 10 dollars a pair wholesale made in China.

      Liked by 3 people

  8. Donna says:

    Great! I personally will never buy another Nike product or watch an NFL team. I did have some players I respected like Drew Brees and Brett Farve but not so much now.

    Liked by 5 people

  9. Bigbadmike says:

    Here in Normalville, our Made in the USA product (Industrial). had a great June in sales, beating 2019, and was the best sales month since February. Manufacturing is steady, Steel prices are going up, were hiring again. Just got to ignore the media, phony polls. Run Silent. Run Deep.

    Liked by 7 people

  10. Donna says:

    I think it is great that the silent majority can have a peaceful impact!

    Liked by 5 people

  11. Kaco says:

    Geez, I finally found what happened with Chick fil A. Dan Cathy is a hot mess and I’m staying far away. Get woke, go broke. What a shame.

    Liked by 6 people

    • Tom says:

      I used to be a regular at Chick fil A. Haven’t been to one since they stabbed Christians in the back and took a knee (or both knees) for the LGBTqwerty agenda of “celebrating” sin.

      Liked by 4 people

      • cattastrophe says:

        It’s really a shame that the CEO of a company can ruin it for everyone. Employees, customers and the bottom line. They have a great product they just need to get rid of him.

        Liked by 3 people

  12. Linda P says:

    Ain’t that a shame?

    Like

  13. alliwantissometruth says:

    Nike brainstorming meeting…

    Let’s talk marketing. Any idea’s folks?

    OK, you’re going to love this

    First, we kowtow to a radical anti-American second rate football player that no team wants

    Then, we insult and get rid of 75% of our customer base

    After that, we market our product to people who have no interest in sports and would never buy our stuff

    Brilliant! Get that going right away

    Liked by 7 people

    • betseyross says:

      Don’t forget how they treated Tiger Woods. All they had to do was quietly cancel the contract, but they had to make a big noisy deal out of it. After a few years Tiger clawed his way back from the divorce and health problems. I am sure it was a huge personal struggle and instead of rewarding him they let Colin Kaepernick trash America……again. This virtue signaling by corporate America is beyond nauseating. They don’t have to take sides and it looks like it doesn’t make any difference. The Goths will come after you anyway. STFU!

      Liked by 4 people

  14. Puzzled says:

    Never Nike. That’s the brand message.

    Liked by 2 people

  15. Joemama says:

    Unilever might want to change their Walls logo. According to the FBI (yes, I know the FBI is a POS), the following is a symbol that pedophiles use to signify that they prefer little girls:

    Here is a link to an FBI document: http://whale.to/c/FBI-pedophile-symbols.pdf if you want to check it out yourself.

    Liked by 4 people

  16. Harvey Lipschitz says:

    Nike “Christmas” is spring when track starts and BB tournaments begin.
    The fast food/college age customer is their market and laid off
    The Malls where Foot Locker stores are were closed.
    Kids and the rest of us really should try on shoes at a store.
    You can’t show off new sneakers when your school is in your bedroom online.

    These are circumstantial factors which hit shoe business hard.

    The signing of Kappernicker was a bad DECISION by Nike suits.
    So in the shoe business, Nike had a line of jack boots and combat boots for protesters, they could fill a market need.

    Most Nike customers buy Nike to be seen wearing Nike. How can you be seen wearing socks during lockdown?

    Liked by 1 person

  17. Arrest Soros says:

    There is something I don’t get. Maybe a treeper or Sundance can help.
    Here in Australia, our listed companies publish results every 3 months, called quarterlies.
    The 6 monthly is called a half yearly and full of details, and of course the full year accounts are the most detailed.
    Doesn’t American companies publish quarterly or half yearly results?
    If they did, then this Nike loss wouldn’t have been such a shock and we’d also have a better idea what percentage of the loss was due to Wuhan Flu.

    Like

    • The Boss says:

      We report on the same basis as Australia. The point here is that Nike may have engaged in financial reporting fraud to delay the inevitable “surprise” announcement. I expect class-action lawsuits will be filed as early as next week, alleging fraud. Then management can deal with another kind of justice warrior. The trial lawyer.

      Liked by 4 people

    • CountryClassVulgarian says:

      As far as I am aware American companies, especially public traded ones do the same. Its not that the in formation is not available. I believe its a matter of people not paying attention. Sadly the entity that identifies as “media’ in this country is so corrupt and so stunningly stupid that even things like quarterly/bi-annual/annual reports are either not reported – because the folk who identify as journalists do not understand them – or only reported if it hurts the American people.

      Liked by 1 person

    • David Williams says:

      Nike’s 4th quarter(March, April, May) $790 million loss is likely completely due to the Virus pandemic in the US, and closure of retail stores. Readers may believe that the Nike 4th quarter is for pre-pandemic Oct, Nov, Dec., of 2019. That WOULD be bad news for Nike.

      But that is not the case. Nike made money on Kaepernick. Their customer base is definitely NOT readers on this forum.

      Like

      • margarite1 says:

        I agree. They’d be in trouble with the SEC if they didn’t follow GAAP rules. There are permanent financial auditors at Nike. The consequences of fiddling with the books would be huge – I’m dubious that the financials were manipulated to hide previous losses.

        Like

  18. Brian Burritoking says:

    When Nike supported Kapernick, I swore I would never willingly buy another Nike product in my lifetime. I knew if I was angry enough to make that commitment, there were millions of others out there. Nike spit in our face. It is rewarding to see that all of my brothers and sisters in this country that felt the same way I did, swore of Nike. Down with Nike!!!

    Liked by 7 people

    • Gammer says:

      Amen, this is the new ME TOO, boycott any company that disses the country or the flag. Have worn through the only pair I had left, now I have Adidas, N and Saucony, no need to even look at their products any more and avoid the Nike outlets like the plague. Usually when I found something I liked there, I would buy 2-3 copies to last me a few years. Only a few shorts and running shorts left, then all other brands, which frankly are better quality. I also now go out of my way to get these at full cost so they will take market share from Nike BIGLY.

      Like

    • Kent Conrad Neal says:

      Nike Kapernick jerseys make great door mats. One local business always has one. I asked if they bought them and was told that they didn’t have to because they had a few dozen donated when Nike hired Krapernik.

      Liked by 1 person

  19. Cisco says:

    Not surprising.
    When looters are allowed to roam free, its going to affect Nike’s bottom line.

    Like

  20. SilentMajoritywillwin says:

    Adidas North America revenue up 1 percent in q1…. hmmmmm

    Like

  21. I walk barefoot through 6 miles of broken glass before I would purchase a pair of Nike footwear.

    Liked by 1 person

  22. coolmamie says:

    I have not purchased a Nike product or two years. Never will again.

    Liked by 2 people

    • Gammer says:

      Me too, when Walmart loses a customer they consider it a loss of 50-150K overe their life. I would guess NIke’s loss per customer around 10-25K over their lifetime. If you consider 50% loss around 5B/year that’s about 10 million customers lost per year! Pretty substantial, CEO should be forced out, they need new ideas and people at the top.

      Liked by 2 people

  23. Mike Lee DelMarcelle says:

    There may be another positive that comes out of this. Unilever dropped their advertising on social media. Hopefully others will do the same. I suspect that nobody really looks at or cares about the ads on social media. They regard them as a nuisance. What happens if after dropping that advertising their sales stay the same?

    Liked by 1 person

  24. Mary says:

    I think Sundance’s take on Unilever is way off. Unilever is not boycotting Facebook because Facebook is too leftist – Unilever is boycotting Facebook at the urging of Black Lives Matter to force Facebook to treat conservatives more terribly. Black Lives Matter wants all the digital media to essentially ban conservative thought as racist, even more than they have. The Unilever is totally at the direction of the black racist Marxists. Sundance, you might want to research this a bit.

    Liked by 1 person

    • The Boss says:

      Unilever reported unfavorable performance due to the KUNG FLU (see their website, where KUNG FLU is mistakenly referred to as Covid-19).

      Eliminating advertising on Twitter, Instagram and Facebook tells me that these social media platforms are delivering considerably less value to Unilever than other media. Re-evaluating the decision at year-end, with an option to continue avoiding these platforms, suggests an earlier cost-benefit analysis is being confirmed by management.

      While Unilever portrays a liberal image on its website landing page, it is not managed by suicidal freaks of nature like Nike is. Unilever is in it to make money, first and foremost. Making stupid SJW faux ideologies part of their image is not in the corporate DNA.

      Like

  25. John Franco says:

    Just spent $80 today on a pair of new running shoes, I walked right past the Nikes. I never gave them one look. I picked up a pair of New Balance, I love Nikes, but when companies and especially their CEO’s want to act politically correct and go all social justice warrior I REFUSE to give them my money if I can help it. It’s why as a Second Amendment supporter I do not shop at Dicks. It’s why as a Christian and Family man I don’t shop at Target with their perverted transgender policies of allowing men into women’s restrooms…there is something about liberalism/ progressiveness that has to embrace disgusting behavior and I try not to support it.

    Liked by 6 people

  26. ATheoK says:

    “Total revenue was down 38% to $6.31 billion from $10.18 billion a year ago. Sales in North America were down 46%”

    That is a $3.87 billion dollar loss, 38%, in one year.
    As Sundance points out, “Their year-over-year sales are down 38%, which tells us the downward spiral has been happening for a lot longer than a quarter.”

    Companies do not hide $3.87 billion dollar losses without committing fraud. The SEC should involve themselves in this nonsense.

    “Nike CEO John Donahoe announced in a company-wide email on Thursday that the brand will soon be “forced to make some difficult choices” that will “likely result in a net reduction of jobs.“

    […] Donahoe ensured that the reductions in staff would “not be done for cost reasons.” The CEO also said they were not a response to the coronavirus pandemic.

    Instead, he wrote, the restructuring is a remedy to the “overburdened matrix” the company has become. He said the planned cuts are meant to simplify how Nike works and increase speed and responsiveness.”

    That is a lot of bafflegab in an attempt to hide the reasons for the losses and to state Nike will cut jobs.
    After losing 38% or $3.87 billion dollars in a year, who in their right mind would not expect job losses!?

    Let’s see,that should mean the entire senior management staff combined with the entire marketing department and most of the legal departments.
    Given Donahoe’s bafflegab it likely means the sales force and middle management will bear the brunt of the job losses.

    Investors should demand the entire Senior staff and Board should be canned wholesale plus anyone who had a hand in developing the Social Justice message.

    Liked by 2 people

    • Joemama says:

      I’m not sure that I remember correctly, but I think that Peter Strzok’s wife is in charge of prosecutions for securities fraud. In other words, the fox is policing the hen house, and nothing will happen as long as that evil #$%^&* is in her current position.

      Liked by 3 people

    • CNN_sucks says:

      Avenatti smell the blood

      Like

  27. Bill says:

    This is the way to defeat these monsters. We must keep it up.

    I will never understand (other than these execs being hand picked by the communist overlords) how these supposedly highly educated CEOs allow the company to literally choose sides against entire swaths of the purchasing public. If I was on the board of directors I would S —t Can the CEO so fast.

    My directive as a CEO in this political climate would simply be, if pestered by the left to capitulate and pick sides, would be “Our company does not enter the political realm In America. We are here to provide a product or service to all human beings. And that will remain our goal as a business. We hope And believe Americans can do their best to unite during these trying times through civil discourse. Thank you”.

    Why none of these idiots haven’t towed this line is beyond me. Michael Jordan is smarter than all these idiots. He was pestered by the media to trash conservatives and he refused to, sayin “Republicans buy sneakers too”. Smart man.

    Liked by 5 people

    • The Phantom Stranger says:

      It’s not about making money anymore for many of these established corporations. Their income streams are so diversified they can get away with angering large pockets of the consumer market without much damage.

      Companies are banking on consumers having very short memories.

      Liked by 6 people

  28. Shoeless Cordwainer says:

    Bought a pair of Nike once in high school and the sole peeled off within the first month. Never bought another Nike product since. Later,when I took up running, I spent $150 for pair of ASICS, wore them once, then switched to barefoot running and never went back. Literally have saved $thousands eschewing running shoes made by slave labor, but the benefit of not supporting anti-american hate is priceless.

    Liked by 3 people

  29. SGH says:

    Nike shoes are not even that comfortable compared with other brands. I’m ok with them destroying themselves.

    Liked by 5 people

  30. T2020 says:

    RIP Nike 👍🏻😆

    Liked by 2 people

  31. Kokanee says:

    I am not buying anything Nike ever again.

    Liked by 3 people

  32. republicanvet91 says:

    “Nike is using the COVID-19 issues to hide the Kaepernick effect.”

    Thank you for pointing this out Sundance. Given their bragging last year about how well they were doing with their new SJW mascot, I now believe that was deceptive and fraudulent and cannot fathom why they were never held accountable.

    Liked by 1 person

  33. republicanvet91 says:

    “The CEO also said they were not a response to the coronavirus pandemic.”

    Of course, if Nike took some kind of Chicom19 stimulus cash, would they be prevented from firing anyone based on the terms of that deal?

    Like

  34. HeLLINaHandbasket says:

    NIKE investor meeting went something like this:

    CEO, Investment Team and Board Members:
    “Good Morning,
    We’ve got some great news for everyone today- we’re very excited!
    Our plans are to cut our revenue by 1/2 and future revenue even further,
    possibly driving your stock and everyone’s profits into the ground!
    . . . who’s with me?”

    Investor Response heard around the table:
    “Yay, sign me up! … me too! .. count me in!”

    How is that even possible,?
    Smells like a scam pay-off to me.
    …question is, who is paying them?
    Somebody’s paying them to lose money.

    These guys don’t take losing millions as a good thing.
    I doubt they lost a dime.
    …. so, who/what is making up the difference, now AND in the future?

    Taxpayer money, laundered into payouts makes sense to me.
    Paid to every single company that jumped on the BLM bandwagon.
    and, paid to every company that jumped on the Hate-Trump freak-train

    It’s stunning how many were big corps are quick to throw away MILLIONS.
    It just ain’t normal.

    Liked by 1 person

    • woodstuff says:

      Are the scumbags at the top of Nike getting big time payoffs from Soros types? Like congress critters getting paid on the side, executives sell their companies integrity.

      Like

  35. Citizen Sane says:

    I’m an avid runner, logging 600-700 miles/year. For years I bought only Nike running gear: shoes, shorts, shirts, socks, etc. I spent about $1,000/year on Nike stuff. When they turned all “social justice” I stopped buying and threw out all my Nike gear. I switched to Brooks. Better shoes and American made. I’ll never buy another Nike branded thing again. Ever.

    Liked by 4 people

  36. High-end sneakers – and Nike certainly sits on the very top of that product category – are the second most desirable loot (surpassed only by electronics). I wonder how many thousands of pairs are currently being peddled on the street after the recent “shopping sprees” in urban centers? Providing nothing to the bottom line of Nike, even if their product losses are covered by insurance.

    Couldn’t happen to a better company.

    Liked by 1 person

  37. Elle says:

    Get woke go broke. But it is a no lose proposition for them.

    “They” worm, charm or muscle their way onto boards of corporations, non profits, NASCAR, etc. and establish a controlling interest. Once established, they raid the coffers to support their causes. They put in place a compliant CEO and pay him very well to assist them as they plunder the organization. If it burns down they just move onto another.

    Tails they win, heads we lose.

    Liked by 1 person

  38. Conservative_302 says:

    There are things that are embedded forever in my mind. Kapernick wore socks with police characterized as pigs and disrespected our flag. Susan Rice on TV peddling Benghazi was caused by a video, let Americans die; the ultimate betrayal. I will never change my poor opinion of these people. I’ll add one more. James Comey on TV acting so cavalier about ignoring protocol and entrapping Flynn with an interview. There’s more to be sure, but these are 3 examples of people who DO NOT deserve American citizenship. Sorry, for the all caps, but these images in my mind make my blood boil.

    Liked by 2 people

  39. Horsesoldier says:

    When you watch looters clean out Nike stores, you have to wonder about shiny objects and squirrels. BLM folks stealing those objects made offshore by slave labor. FUBAR.

    Like

  40. sarasotosfan says:

    There is more to this. High school and colleges closed and virtually all organized sports shut down. These are huge markets and all of them disappeared. And their teenager and tweenager markets have been decimated by the “Safer at Home” policies.

    Yea, the Colin Caper is a problem, but I think it is a trivial component unworthy of analysis given the economic backdrop.

    Like

  41. sarasotosfan says:

    Check out New Balance for footwear. I’ve been wearing their stuff for almost 20 years.

    Liked by 1 person

  42. webgirlpdx says:

    As always, Sundance is spot on. Nike’s HQ is in my backyard. What was once a home grown success story that we were proud of, I couldn’t tell you the last time I bought anything with its logo. Certainly not after the Kaepernick thang. Our kids don’t either.

    The genesis of the company, Coach Bowerman (humble Eastern Oregon guy), Phil Knight and Steve Prefontaine is actually a great story.

    It’s become so “Woke” in all these years while the hypocrisy of slave labor in China/Asia. I still have respect for Phil Knight who has actually stepped away from operating and is now a figure head. Donates a lot to our cancer hospital, education. He and Penny have always been pretty down to earth. Sad what the company has become as opposed to what it was.

    I’ve known a lot of people who have worked for them. Many who have stepped away because the culture has been that you should be honored to work for them even if treated poorly.

    I loved Tucker’s backhand of them the other day and the ‘digital manager’ ridicule. Everyone over there has a job title of “Global”. Global Manager of Shoestrings..Global Manager of Headbands, Global Manager of Whatever. That tells you their lofty opinion of themselves and screw being the American brand that got them there and those that brought them to the dance.

    I imagine a lot of cuts will be at the overbloated HQ with all the Wokesters that high jacked what was once a great company.

    Liked by 2 people

    • CA M says:

      Yep. PDX area (Inc Beaverton) is all “woke”. It’s why they have tolerated Antifa for so long. Their soy bois go on to become marxists and communists. Even pastors up there get in on the white guilt. Pretty sad. Used to be a really beautiful place, but Leftists have destroyed it. And because they use Republicans as the whipping boys for every problem they create, no one speaks out anymore. Eventually you have to let them suffer the consequences of their choices.

      Liked by 1 person

    • margarite1 says:

      You are exactly right. “It’s a privilege to work for Nike”. That was actually said to me.
      The campus is gorgeous but you can’t put it in your bank account. After 15 years I’m gone and extremely happy about it. Amazon is actually a better culture IMO.

      Liked by 1 person

  43. Moe Grimm says:

    BE ADVISED. I find nothing here at CTH ref. Ashley R. Groypenberg’s outstanding scrub to find and publish U.S. & Intn’l. entities like Nike which actively support BLM. It predominantly resolves directly to specific corporate web page/s. It has roused the Serpent now actively searching to remove it appetite to asswhole from DNS. But thus far they’ve missed this one said to have grown since 15 June I post haste now converted to excel and good old hard copy to keep/update and fully disseminating among Kith and Kin and public places. More limited shopping ahead: https://cairnsnews.org/2020/06/15/list-of-international-or-us-companies-supporting-black-lives-matter-looting-and-pillaging/.

    Serpent reaction from one of their boutique reading rooms noted while trying to get back to the original Twatter link. “CommunismKills / Ashley Rae Goldenberg – Perpetually assblasted eternal victim, trolled by tumblr teens, Cuckquean, Wanted money to quit posting hot takes on tumblr; Ex-GF of Matthew Heimbach, a neo-nazi: https://kiwifarms.net/threads/communismkills-ashley-rae-goldenberg.23503/page-6. This is what the normies also fear. And remember… “Love trumps hate” baby!

    Like

  44. mugzey302 says:

    As I said the other day, our “culture” has been a sh*t-show since Corporate America caved to the social justice BULLIES and the hypocrite Hollywood celebrities and limo-liberals. These bullies are among the marxists trying to destroy our economy and our country.

    Liked by 2 people

  45. mugzey302 says:

    Thank you, Sundance, for this enlightening piece of work.

    Like

  46. Pegon Zellschmidt says:

    Hasn’t hurt their stock price. Large funds (Blackrock) are big sjw and can support losers for a time unless pressures mount. They’re probably happy with the finagling.

    Like

  47. Jerry says:

    Never Nike.

    Like

  48. davidsstones says:

    Nice work Sundance. And you didn’t use the portrait lens. Better decision to use the industrial landscape lens.

    Like

  49. David Williams says:

    I disagree with the Author. As much as I would like to see a “Gillette” like impact on Nike sales, it appears to not have hurt Nike at all. Nike’s 3rd quarter ended February 29, 2020. That period shows a year-over-year increase in revenue, even with virus related Chinese retail store closures. This 4th quarter the Author addresses ended May 30, straddling the US virus pandemic and store closures. So, I don’t see how we can attribute the 4th quarter decline to a Kaepernick effect. And even immediately after Kaepernick’s stunt, sales spiked. Bummer.

    Like

  50. Curt says:

    I will NEVER purchased another Nike item……………. too help me God!

    Like

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