Nike results lead to Wall Street calling for ‘regime change,’ FT says

One of the most covetable sneakers is the Wu Tang Dunks, which was released by Nike in 1999, but the company recently teased a commercial release of the shoes following its earnings call, Sara Germano of The Financial Times reports. On June 28, the company issued a dim forecast for the year and its shares plummeted 20%. Consumers are not as fond of the brand’s classic shoes as they used to be, and Wall Street is openly calling for “regime change” in upper management. “Having a tech executive who came in to run a consumer product company and introduce a strategy shift, it’s proven to be the wrong approach,” said Jim Duffy, managing director at Stifel, referring to CEO John Donahoe.