VCR - What's Going On With Sneaker Giant Nike's Shares Today? | Benzinga
Shares of Nike Inc. (NYSE:NKE) are trading slightly higher premarket today. The sneaker giant has brought back a retired senior executive to manage its retail partnerships after experiencing strained relationships with sneaker sellers and a decline in sales.
Tom Peddie, who spent 30 years at Nike before retiring in 2020, has returned as vice president of marketplace partners, according to an internal memo obtained by Bloomberg.
Under the leadership of Chief Executive Officer John Donahoe, Nike has been working to restore its connections with retailers like Foot Locker Inc. (NYSE:FL).
This move follows Nike’s strategy shift towards its own stores, e-commerce, and apps, which ...