Nike IncNKE
▼ NegativeCapitalrelevance
Nike cuts global employee bonuses to 74% of target due to challenging year and forecasted sales declines.
Impact on stocks 2
Consumer Discretionary
Nike IncConsumer Staples
Target CorporationTGT
Mentioned
Nike is reducing global employee bonuses to 74% of their target after a challenging year. CEO Elliott Hill told employees in a memo that results are not yet where they need to be, with North America employees receiving 92% of their bonus while Greater China employees get only 56%. The bonus update comes as Nike's turnaround remains uneven, with revenue beating expectations but executives forecasting sales declines in the coming months. Separately, Converse employees were told future bonuses will be tied to Converse's own performance rather than Nike's results.
Nike IncNike cuts global employee bonuses to 74% of target due to challenging year and forecasted sales declines.
Target Corporation