News
Nike shares drop after revenue forecast disappoints investors
Nike shares initially surged after beating estimates, but forecasts of falling revenue led to a sharp drop.
Nike’s recent earnings report exceeded modest estimates, leading to an initial 11% surge in shares.
However, investor optimism quickly diminished when CEO Elliott Hill predicted a significant revenue drop in the third quarter.
In his first earnings call since taking over in October, Hill acknowledged the challenges facing Nike, which has struggled with dwindling demand.
He expressed a commitment to refocusing the company on sports and premium pricing strategies.
Tiger Woods’ Masters win gives Nike investors another reason to smile.
Despite the report showing profit above expectations and a smaller-than-anticipated revenue decline,
Difficult path
Nike’s shares have fallen nearly 30% this year. Analysts highlight the difficult path ahead for Hill, who faces scrutiny over revitalising the brand’s market position.
Hill emphasised the need to rebuild retail partnerships, foster innovation, and limit discounts to traditional retail moments, citing an overly promotional approach that undermines the brand and disrupts profits for partners.
As competitors introduce more appealing footwear, Nike has intensified efforts to regain its market share by investing in new product lines and revamping established franchises like Air Max 95 and Jordans.
Nike’s leadership is now tasked with reversing a trend of market erosion and restoring the brand’s strength in a competitive environment.
News
Chinese auto brands dominate, taking one in five Aussie sales
Chinese car brands surge in Australia, capturing 20% market share with diverse offerings and aiming for expansion despite challenges
Chinese car brands continue to rise in Australia, capturing 20% market share with a diverse range of EV offerings.
– Over 20 Chinese car brands, including BYD and MG, are now available in Australia, with four in the top ten.
– Traditional automakers are adapting to increased competition and concerns about the quality of new Chinese entrants.
Australia is witnessing a significant increase in the presence of Chinese car brands, with over 20 names currently available, including BYD, GWM, and MG. In August, four Chinese brands ranked in the top ten for the first time, indicating a growing market share.
Australia’s low trade barriers facilitate the entry of these brands, which view the market as an opportunity for growth and learning. Most electric vehicles sold outside of Tesla are Chinese, showcasing their dominance even in models from other manufacturers.
Industry analyst Mike Costello from Cox Automotive joins to discuss the latest developments in the EV space, and answers the big question: who was the dominate force at this year’s Munich Motor Show?
Money
RBA plans to ban credit card surcharges in Australia
Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards
Reserve Bank of Australia plans to ban credit card surcharges despite banks warning of potential higher fees and weaker rewards.
– The RBA plans to ban surcharges on debit and credit card transactions, supported by consumer group Choice.
– Major banks oppose the ban, warning it could lead to higher card fees and reduced rewards for credit card users.
The Reserve Bank of Australia (RBA) intends to implement a ban on surcharges associated with debit and credit card transactions. Consumer advocacy group Choice endorses this initiative, arguing that it is unjust for users of low-cost debit cards to incur similar fees as credit card holders.
The major banks, however, are opposing this reform. They caution that the removal of surcharges could prompt customers to abandon credit cards due to diminished rewards.
A final decision by the RBA is anticipated by December 2025.
News
Charlie Kirk’s legacy reshaping US conservatism
“Charlie Kirk united GOP grassroots through social media and activism, but his death raises questions about future leadership.”
Charlie Kirk united GOP grassroots through social media and activism, but his death raises questions about future leadership.
Charlie Kirk transformed the Republican grassroots movement by fusing social media reach with in-person activism, turning Turning Point USA into a cultural and political force.
His bold campus debates, viral online presence, and close alliance with Donald Trump energised young conservatives and boosted GOP turnout.
With his assassination, questions now loom over who can continue his unique blend of digital influence and grassroots organising.
#CharlieKirk #TurningPointUSA #ConservativePolitics #GOP #Grassroots #TickerNews
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