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Nike reports profit loss of $790 million what, Kaepernick couldn’t save them?

#1

Nike reports profit loss of $790 million, what, Kaepernick couldn’t save them?

Nike reported a profit loss of $790 million in the 4th quarter and a decline in sales of 38%, 46% in the United States. Instead of making 7 cents a share, they lost 51 cents a share. With Colin Kaepernick as their mascot, how could this loss have happened?

https://www.independentsentinel.com/nike...3xQgO9XoNo

Without deviation from the norm, progress is not possible.

Frank Zappa



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#2

It was because of me. I am a UA guy now. I hit their Chinese sweatshops where it hurts!
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#3

Hard to turn a profit when everybody is just stealing looting acquiring them without purchasing them.
"It is inaccurate to say that I hate everything. I am strongly in favor of common sense, common honesty, and common decency. This makes me forever ineligible for public office." - H. L. Mencken

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#4

(06-26-2020, 08:35 PM)StroudCrowd1 Wrote: It was because of me. I am a UA guy now. I hit their Chinese sweatshops where it hurts!
You strike me as a white new balance guy....
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#5

Some of it might be Colin Kaepernick. I never had a big problem with the kneeling. Others followed his lead by exercising a sacred right as American citizens and I will always stand behind that (get it?? *knee slap*).

Where I drew the line was when Nike recalled the sneakers with the Betsy Ross flag because some extremely obscure white power group used it. Literally, almost no one knew about this yet Nike decided to withdraw it. They let the bad guys hijack a lasting symbol of the founding of America because they're cowards. It was then I decided to never spend another dime on Nike gear. I'm not alone. I sincerely hope this is partially a result of their decision.

Btw, Cleatwood, I still use the Nike gear I own, without cutting the swooshes off.
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#6

I too remember being so upset with a company about them not releasing a shoe with a flag on it I cried and didn't buy anything they made again
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#7

(06-26-2020, 09:58 PM)JackCity Wrote: I too remember being so upset with a company about them not releasing a shoe with a flag on it I cried and didn't buy anything they made again

Look who's trying to be provocative! Awwuh!!  Love
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#9

It is really easy not to buy Nike.

It is really easy not to shop at [BLEEP] either since they stopped selling firearms. I discovered Academy is way better.
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#10

(06-26-2020, 10:19 PM)JagsFanClubOfMD Wrote: https://www.google.com/amp/s/www.cnbc.co...nings.html

Aw, dang it!
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#11

(06-26-2020, 10:12 PM)homebiscuit Wrote:
(06-26-2020, 09:58 PM)JackCity Wrote: I too remember being so upset with a company about them not releasing a shoe with a flag on it I cried and didn't buy anything they made again

Look who's trying to be provocative! Awwuh!!  Love

that's only provocative if you have a flag fetish
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#12


Your beliefs become your thoughts,
Your thoughts become your words,
Your words become your actions,
Your actions become your habits,
Your habits become your values,
Your values become your destiny.
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#13
(This post was last modified: 06-27-2020, 09:38 AM by Sammy.)

(06-26-2020, 10:19 PM)JagsFanClubOfMD Wrote: https://www.google.com/amp/s/www.cnbc.co...nings.html

Had you been paying attention you would have recognized only one of those drops were Covid-19 related. The Nike loss was from the 4th quarter of 2019.  Laughing


I Stand Corrected.
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#14

(06-27-2020, 08:59 AM)Sammy Wrote:
(06-26-2020, 10:19 PM)JagsFanClubOfMD Wrote: https://www.google.com/amp/s/www.cnbc.co...nings.html

Had you been paying attention you would have recognized only one of those drops were Covid-19 related. The Nike loss was from the 4th quarter of 2019.  Laughing

Nike's fiscal year ended 5/31/2020, so technically their Q4 was March-May and that's why their Q4 and Year End numbers just came out. I thought the same thing you did that this report seemed late if it was CY 2019, so I had a look at their corporate docs, and the drop was most significant in April and May.
"It is inaccurate to say that I hate everything. I am strongly in favor of common sense, common honesty, and common decency. This makes me forever ineligible for public office." - H. L. Mencken

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#15

(06-27-2020, 09:26 AM)flsprtsgod Wrote:
(06-27-2020, 08:59 AM)Sammy Wrote: Had you been paying attention you would have recognized only one of those drops were Covid-19 related. The Nike loss was from the 4th quarter of 2019.  Laughing

Nike's fiscal year ended 5/31/2020, so technically their Q4 was March-May and that's why their Q4 and Year End numbers just came out. I thought the same thing you did that this report seemed late if it was CY 2019, so I had a look at their corporate docs, and the drop was most significant in April and May.

Ha, I didn't consider their fiscal year. Foot in mouth.
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#16

(06-27-2020, 09:38 AM)Sammy Wrote:
(06-27-2020, 09:26 AM)flsprtsgod Wrote: Nike's fiscal year ended 5/31/2020, so technically their Q4 was March-May and that's why their Q4 and Year End numbers just came out. I thought the same thing you did that this report seemed late if it was CY 2019, so I had a look at their corporate docs, and the drop was most significant in April and May.

Ha, I didn't consider their fiscal year. Foot in mouth.

It happens, especially when I don't know of another company that size that uses a June - May fiscal year.
"It is inaccurate to say that I hate everything. I am strongly in favor of common sense, common honesty, and common decency. This makes me forever ineligible for public office." - H. L. Mencken

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#17

No such thing as a profit loss. It's either a profit OR a loss.
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#18
(This post was last modified: 06-27-2020, 06:55 PM by EricC85.)

I’m not really their market anyways I can’t remember the last pair of sneakers I owned? I have work boots and Sandles but my kids like Nike. I don’t buy it cause it’s to expensive they get the knock offs or Walmart shoes, I know I’m a mean dad.

(06-27-2020, 06:17 PM)captivating Wrote: No such thing as a profit loss.  It's either a profit OR a loss.

Profit loss is when the company doesn’t grow profits year over year. So they still made a profit in the 4th quarter it was just x dollar less profit then the year before
[Image: 5_RdfH.gif]
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#19
(This post was last modified: 06-29-2020, 10:29 AM by KingIngram052787.)

(06-27-2020, 09:42 AM)flsprtsgod Wrote:
(06-27-2020, 09:38 AM)Sammy Wrote: Ha, I didn't consider their fiscal year. Foot in mouth.

It happens, especially when I don't know of another company that size that uses a June - May fiscal year.

Lots of clothing retail companies have weird year-ends.  I used to do a lot of public company accounting consulting and most of the ones I worked on were not a traditional calendar year-end.

It's been a while, so I don't recall the exact reasons why, but there was a method to the madness.
<!--/coloro--><i><b>My sig no sos, I's guna diiz</b></i><!--colorc-->
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#20

(06-29-2020, 10:28 AM)KingIngram052787 Wrote:
(06-27-2020, 09:42 AM)flsprtsgod Wrote: It happens, especially when I don't know of another company that size that uses a June - May fiscal year.

Lots of clothing retail companies have weird year-ends.  I used to do a lot of public company accounting consulting and most of the ones I worked on were not a traditional calendar year-end.

It's been a while, so I don't recall the exact reasons why, but there was a method to the madness.

Ours runs October to September. I guess I could see fashion being an industry where they want their fiscal year aligned with seasonality.
"It is inaccurate to say that I hate everything. I am strongly in favor of common sense, common honesty, and common decency. This makes me forever ineligible for public office." - H. L. Mencken

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