Nike's CEO John Donahoe has helmed the sneaker giant for nearly five years, but under his watch, its stock has underperformed and its lost market share.
Nike posted dismal fiscal 2025 guidance that sent shockwaves through Wall Street, leading at least six investment banks to downgrade the stock.
The company also said it expects fiscal 2025 sales to be down mid-single digits when it previously expected them to grow. The company is expecting wholesale orders to be slow as it scales new styles, pulls back on classic franchises and works to repair its relationships with key retail partners after spending the last few years cutting them off in favor of a
"It was almost silly towards the end of the call they talked about running being such a key sport that consumers are taking part in… We've known that for a long time, we've known that the consumer changed their mind post-pandemic, how they're much more active," Jessica Ramírez, senior research analyst at Jane Hali & Associates, told CNBC, adding a management change at Nike is "quite needed.
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