Nike stock sees worst day on record, prompting CEO criticism

Nike on Friday saw its stock prices plummet 20% after the company warned its current quarter sales would see a steep decline. Hope King, a senior business reporter for Axios, joined CBS News to discuss what has led to the falloff for the shoemaker.

#news #nike

[GeeNee]

It's falling back because there greedy $120 for joggers $60 for shirts? I can buy another brand joggers and shirt for $30 total...🤨🤨

[ThumbdownMan]

Nike has flashy design but shoe doesn't last long. New Balance is more durable.

[adidass]

This is what happens when your entitled senior staff s buys the inventory for their kids to sell and make a 2000% profit for the last 20 years

[meluvYT]

Nike has raised prices, lessened quality and has failed to innovate as they rely heavily on retro models like Jordans, Dunks, Air Maxes and Air Force 1s

[JClovesthas]

Nike's quality has gotten cheaper and cheaper.

[MightyMouse]

I’ve always said Nike are not comfortable but fashionable

[nickjones]

Nike started focusing on fashion, sneaker culture . Their shoes aren’t even made for athletics anymore.

[JWSpaceX]

Buy the dip, sell the rip. Obviously a strong buy

[edwarddapra]

$140 for new Pegasus says it all. For a entry level type daily trainer. Much better running shoes at that price point. Glad to see Zegama 2 went to Vibram, but still $180. Hoka Speedgoat $123 this past weekend. That’s one of the issues why Nike struggling.

[khon]

rather go to the store so i can physically see the product. online shopping is risky if you're looking for a certain. returning the product can be a hassle when you really need to use the product or not what the picture is showing

[Zoomerland]

Nike is too expensive even on sale. I’ll never buy another Nike again.

[kengvang]

No one got money to buy expensive shoes. Inflation got everyone hurting.

[bboyizzy]

They're failing because lack of innovation. They have become overpriced and overrated

[wolfthornhawkridge]

Nike is going to continue to put out Jordan’s, Retro-Jordan’s and Jordan CLASSICS. The issue is there is only a certain demographic that purchases Jordan’s. Kudos to the new shoe companies for taking on the giant.

[nicholassealy]

skechers, new balance, under armour, adidas is cheaper and more comfortable

Their toe boxes are not designed for human feet. I've never felt such tight and narrow toe boxes in any other brand.

[jamesgilarte]

As a Nike basketball fan I want to buy Kobe shoes but I can’t get a pair as Nike make all these exclusives which resellers get and are killing the market by increasing the retail value, making it hard for everyday people to get them.

Make the shoes more accessible for people no matter what their financial terms are

[ProSePlaintiff]

When fake Nike shoes are better and last longer than real Nike shoes, there is a problem.

[dantrevino]

New Balance makes wide shoes that are supportive and comfortable. Nike's wide and extra wide shoes are a joke. I would love to buy some of nike shoes to try them out, but they are not marketing to me, they are marketing to the under-aged kids that know no better about their feet or arch support. Nike used give you little arch support inserts with their running shoes.

[bonniebob]

I don’t even wear a lot of Nike but the company is a beast and will bounce back.