The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
BEAVERTON, United States — Nike Inc.'s investors are keeping the faith in the wake of a misconduct scandal that's seen several executives depart. Shares of the sneaker giant rose as much as 2.7 percent to $71.35 on Wednesday, a record high for the company that went public in 1980.
The stock got a boost from Macy’s Inc., a Nike customer, that lifted much of the retail and apparel industry after reporting first-quarter sales that topped estimates and raised its full-year profit guidance.
Nike made its review of executive behaviour public in March with the ouster of Trevor Edwards, who was president of the Nike brand and one of the favourites to eventually replace Chief Executive Officer Mark Parker. Since then, several more high-ranking employees have left the company.
But none of that has slowed down the stock. It’s up 7 percent since then, compared with a decline of about 1 percent for the Standard & Poor’s 500 Index.
By Matt Townsend; editors: Anne Riley Moffat and Lisa Wolfson.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
The State of Fashion 2024 breaks down the 10 themes that will define the industry in the year ahead.
Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.