Boston, MA 06/05/2014 (wallstreetpr) – To further strengthen its leadership and global reach Nike Inc (NYSE:NKE) has announced important changes in its management verticals. Doing this, Nike expects to focus on growth opportunities and elevation of leadership that drives the business. Some of the key people who were given leadership positions are Mark van Pappelendam, Jim Reynolds, Craig Zanon and Micheal Jackson.
Nike Interest in Tonight’s Live TV Event
From Micheal Jordan to LeBron James, Nike Inc (NYSE:NKE) has been signing good players for marketing its products. So no wonder the company is looking keenly on the results of 2014 NBA draft lottery in New York so that it can use that information to target the potential brand endorsers. It is not going to be so easy process for Nike for there are other big players like Adidas that are treading the same path.
Nike Inc Abandons Hardware Over Software Plans
Nike Inc (NYSE:NKE) is now turning away from its hardware project FuelBand bracelet to software such as fitness apps. When FuelBand bracelet, the keeps track of fitness data, was introduced it was thought be state of the art from Nike. But apps have taken over and hence the push to Nike to reconsolidate in market. As result Nike has come up with Fuel app the success of which will depend on how well it goes with the customers. The customers can earn Fuel points as per daily schedule. Also, Nike has set a Nike+Fuel lab for research and development for its software products.
Nike Sheds 106,000 Workers
Over the last year, Nike has cut about 106K contract workers of which a major share comes from its Asian branches. Nike now wants to shift to automation and work with fewer and better contract workers across its supply chain. This change doesn’t not have any effect on profit which soared by 16% to $2.47 billion and the revenue by 5% to $25.31 billion in the previous year.
Tiger Controls Nike
Tiger Woods has been the brand ambassador for Nike Inc (NYSE:NKE) since 1996. Analysis shows that stocks perform in unison with the performance of Tiger Woods in different tournaments. The year 2013 data clearly proves it. With Tiger Woods being on the shelf due to back the injury and other reasons, the stocks relativity slightly shifted to performance of other leading athletes.
