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The company said it’s looking for as much as $2 billion in cost savings in the next three years, which includes laying off employees. Shares of Nike ( NKE ) tumbled as much as 14% Friday.
It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$46 billion in its fiscal year 2022. [ 6 ][ 7 ] The company was founded on January 25, 1964, as "Blue Ribbon Sports", by Bill Bowerman and Phil Knight, and officially became Nike, Inc. on May 30, 1971.
The Universal Product Code (UPC or UPC code) is a barcode symbology that is used worldwide for tracking trade items in stores. The chosen symbology has bars (or spaces) of exactly 1, 2, 3, or 4 units wide each; each decimal digit to be encoded consists of two bars and two spaces chosen to have a total width of 7 units, in both an "even" and an ...
The term replacement cost or replacement value refers to the amount that an entity would have to pay to replace an asset at the present time, according to its current worth. [1] In the insurance industry, "replacement cost" or "replacement cost value" is one of several methods of determining the value of an insured item. Replacement cost is the ...
Nike is cutting 2% of its global workforce, or little over 1,600 jobs, as the athletic wear giant aims to cut costs and reinvest its savings into what it sees as big growth areas like sport ...
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