NYSE:NKELuxury
Nike Converse Reset Raises Questions On Brand Future And Portfolio Story
Nike (NYSE:NKE) is implementing major layoffs at its Converse unit as part of a broad restructuring effort.
The shake up includes senior leadership changes and a company wide directive for Converse staff to work from home.
The moves follow repeated periods of underperformance at Converse and the rollout of a "Win Now" turnaround plan.
Investors are watching for clarity on whether Nike might consider divestiture or deeper changes to the Converse brand.
Nike, through Converse, is exposed to...