Tell us about your experiences with Marketplace. Enter To Win

Nike is cutting its workforce and looking toward customized shoes

Mitchell Hartman Jun 15, 2017
HTML EMBED:
COPY

Nike is cutting its workforce and looking toward customized shoes

Mitchell Hartman Jun 15, 2017
HTML EMBED:
COPY

There have been a lot of challenges lately on the playing field for the world’s leading athletic brands. The sporting goods industry, like others in the retail sector, hasn’t been robust. Nike kept growing, though, with strong sales overseas and powerful branding in performance sneakers. But lately, upstart competitor Under Armour has come on fast. And rival Adidas has had success with eye-catching colorful styles. Nike’s response? A 2 percent cut in its global workforce, announced Thursday, and a decision to winnow down its styles by 25 percent. Nike wants to focus on high-end experiential flagship stores around the world. And like Adidas, Nike is developing digital tools to customize shoes for consumers. Ultimately, Nike wants to sell a customized sneaker online.

Click the audio player above to hear the full story.

Marketplace is on a mission.

We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.

Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?

Your donation is critical to the future of public service journalism. Support our work today – for as little as $5 – and help us keep making people smarter.