Adidas AG
- yesterday
Nike drops from S&P 100 after 18 years as stock falls 76% and Mbappé joins rival On
Nike has been removed from the S&P 100 index after an 18-year tenure, following a 76% stock decline since 2021, a 22% quarterly sales drop in China, and the departure of Kylian Mbappé to Swiss competitor On.
- 4d ago
Nike announces $2.5 billion cost-cutting plan and job reductions as sales slide across key markets
Chief Executive Elliott Hill introduced the multi-year Pace restructuring program after quarterly revenue dropped 4% to $11.2 billion and shares fell to a 12-year low.
