Nike (NKE) stock is under scrutiny following the release of quarterly results and insights into new CEO Elliott Hill’s turnaround strategy. StockX COO and incoming CEO Greg Schwartz discusses Nike’s performance on the secondary market, noting a need for change due to oversupplying and lack of innovation leading to market share losses to competitors like Puma, Asics, and Adidas. Schwartz highlights the impact on resale platform performance for brands like Hoka and ON.
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President Biden signs bill that averts government shutdown
President Joe Biden signed a bill into law to avert a government shutdown by funding the government through March 14 with $100 billion in disaster aid and $10 billion in agricultural assistance. House Speaker Mike Johnson faced challenges passing the bill due to President-elect Donald Trump's debt limit demands but ultimately secured approval in the House and Senate. The deal reflects ongoing tensions between Republicans and Democrats over government funding and debt issues, highlighting the...
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