Nike Good and Bad News, Adidas 350 Returns, More Bailing on Balenciaga, The Return Of December Madness Sneaker Brackets

It's been a while...

Nike reported Q2 earnings that top all expectations with revenue of $12.72B scooching past expectations of $12.03B. The company also raised FY revenue guidance from low double digits to low teens. While inventory was sky high (up 43%!), there was sequential improvement (down 3%) compared with Q2, helping to drive the stock up 12% on the day.

When ask about the tension between Nike direct and its relationship with wholesale accounts, CEO John Donahoe shouted out Foot Locker’s new leadership, stating, “For instance, this quarter, we spent a lot of time with Mary Dillon and her team at Foot Locker talking about how next phase of growth for us can jointly be great around real opportunities of basketball and sneaker culture and kids. And so there's a lot of excitement I would say with our wholesale partners and what we can accomplish together and particularly through a connected membership environment, which allows us to serve our mutual consumers in a better way.