NKE Mar 2025 82.500 put

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CNN Business
Under Armour was a real threat to Nike. Now it’s fighting to stay relevant
It was once hyped as a worthy rival to Nike. But at present, Under Armour, founded by a 23-year-old former college athlete, is struggling to “just do it.”
Fortune
Converse layoffs are the latest casualties of Nike’s $2 billion do-or-die plan to get back on its feet
The Oregon-based shoe company said in December it would lay off 2% of its workforce over three years.
Reuters
UPDATE 2-Converse to cut jobs as part of Nike's cost-savings plan
Footwear brand Converse will cut jobs as part of parent company Nike's on-going $2 billion cost savings plan, a source familiar with the matter said on Tuesday. Nike had laid out a costs saving plan in December that would stretch over the next three years and also include tightening the supply of some products and reducing management layers. The cost-saving plan has prompted a slew of job cuts over the past few months at the world's largest sportswear maker.