When Nike reports its results for the key back-to-school shopping season on Thursday, investors will be eyeing the performance of its Jordan brand, a major profit-driver for the company..
NEW YORK (Reuters) -When Nike reports its results for the key back-to-school shopping season on Thursday, investors will be eyeing the performance of its Jordan brand, a major profit-driver for the company. Data from analytics firm Altan Insights shows the value of some Jordan shoes has been slipping on the resale market as other sneaker brands, including On Running, experience meteoric growth. On the resale platform StockX, the average premium paid on new releases of Nike's Air Jordan 1 Retro High, long considered a quintessential collector's shoe, has slipped from a high of 61% in 2020 to 4% in 2023.
E-commerce giant Shein is sending more low-priced apparel and home goods to U.S. warehouses from China to speed up shipping times for shoppers, according to data from global trade analysis firm ImportGenius provided exclusively to Reuters. Shein, known for its $10 tops and $5 biker shorts, until recently has made many American purchasers face wait times of up to two weeks or more to receive their goods. Analysts told Reuters that Shein would likely continue to expand its bulk shipments to the U.S. in a bid to compete with established retailers on delivery times as it eyes an initial public offering.
One of the resolutions, filed by Massachusetts-based investment adviser Arjuna Capital, called on Nike to provide more data on pay equity for female and minority employees. The second, filed by shareholder advocacy group Tulipshare, asked the company to issue a report on whether its supply chain policies effectively address Nike’s stated equity goals and human rights commitments. Proposals require more than 50% of shareholder votes to win, but Nike is not required to adopt them.
Nike investors reject pay equity, human rights proposals reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.