In the middle of 2024, Bill Ackman's fund, Pershing Square Capital Management, took a new stake in the iconic footwear and apparel brand Nike (NKE 0.59%). While the brand carries tremendous recognition globally, the stock is down over 31% in the last year.
Nike's (NKE -0.28%) strategic fumble opened the door for competition.
In the most recent trading session, Nike (NKE) closed at $76.78, indicating a -1.04% shift from the previous trading day.
NKE partners with SKIMS to launch NikeSKIMS, a game-changing brand blending performance and style to redefine the global fitness and activewear market.
Nike Inc (NYSE:NKE) stock is down 1.2% to trade at $76.67 at last glance, brushing off news of a collaboration with celebrity Kim Kardashian's apparel brand Skims.
Nike (NKE 6.23%) has entered into a new business collaboration, and investors were glad to hear about it on Tuesday. They rewarded the athletic wear mainstay by pushing its share price up by more than 6% on the day, which compared quite favorably to the 0.2% bump of the S&P 500 (^GSPC 0.24%).
Nike is partnering with Skims and introducing a new female-focused brand together with the shapewear company co-founded by Kim Kardashian.
Nike said the new brand, called NikeSKIMS, would include training apparel, footwear and accessories for women.
Nike has signed a new "long-term" partnership with Kim Kardashian's shapewear company Skims to launch a new brand called NikeSKIMS. The new brand will include a new collection of apparel, footwear and accessories that will debut this spring, with a global rollout planned for 2026.
Long-time successful companies can hit roadblocks. It's tough to figure out whether it's a temporary setback or a more permanent situation.
Nike (NKE) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.
Nike (NKE) concluded the recent trading session at $71.34, signifying a +0.56% move from its prior day's close.