Elliott Hill, an executive who left the company after Donahoe’s appointment in 2020, will return as chief executive, Nike’s board said.
Category: Company Reports
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Inside Disney’s Succession Struggle and Bob Iger’s Return to Power
The inside story of how Bob Iger undermined and outmaneuvered Bob Chapek, his chosen successor, and returned to power at Disney.
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The Big Number: $3.8 Billion
The amount offered by Nordstrom’s founding family to buy its namesake retailer.
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Ford Pulls Back Its Electric Vehicle Push
The automaker said it would invest less in battery-powered cars and scrap a planned electric three-row sport utility vehicle.
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Macy’s Reports Lower Sales as Shoppers Cut Back
Department store chains have struggled as consumers, squeezed by budget constraints, spend less time and money at their stores.
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Walmart Sees Higher Sales From Picky Shoppers
The retail giant raised its forecasts as it attracted bargain-hunting shoppers strained by inflation, drawing in high-income households in particular.
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Cisco to Cut About 7% of Staff in Second Round of Job Layoffs
The cuts could amount to about 6,000 jobs for the San Jose, Calif., maker of computer networking technology.
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The Big Number: $8.4 Billion
Disney’s weaker-than-expected revenue at its theme park unit.
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Warner Bros. Discovery Takes $9 Billion Write-Down on Cable Networks
David Zaslav, the company’s chief executive, said the accounting change was an acknowledgment of the pressures facing traditional media.
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New York Times Reports 13.6% Jump in Profit
The publisher added about 300,000 digital subscribers in the latest quarter, and now has more than 10.8 million subscribers.
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Disney Parks Struggle, Exposing New Trouble Spot
Companywide profit increased, the result of hit movies and streaming growth. But Disney said softening theme park demand “could impact the next few quarters.”
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Nvidia Shares Tumble After Reports of a Chip Delay
The A.I. chip maker’s shares fell in early trading, but the stock pared some of its losses.