Nike share price forecast lowered amid management reshuffle

Thomas Clark, former president of innovation at Nike, will move to the role of senior consultant to CEO John Donahoe, focusing on business growth strategy. His place will be taken by John Hawke, who has worked for the company for more than 30 years. Nike has officially confirmed the new positions of both executives. 

Analysts at Jefferies investment bank point to possible serious consequences. The bank left a recommendation to hold Nike shares, lowering the price from $90 to $80, expecting difficulties due to increased competition, various economic factors and a less enthusiastic consumer reaction to recent product releases.

Jefferies suggests that Nike revise its financial forecasts and provide updated data before the November meeting with analysts. According to experts, this will support investors' interest in product promotion strategies and innovations.

Nike is looking to improve efficiency as stocks have fallen and sales have declined. The company brought in a former executive to improve retail partnerships that had weakened under Donahoe's management.