Nike CEO John Donahoe blamed remote work for the company falling behind on innovation, saying that it’s tough to build disruptive products on Zoom.
Nike CEO John Donahoe blamed remote work for the company's innovation slowdown and dearth of fresh products.
The company is in a bit of a rough spot and has been criticized for falling behind on innovation and ceding market share to upstarts like On Running and Hoka.CEO John Donahoe on Friday blamed remote work for the company falling behind on innovation, saying that it's tough to be disruptive when people are working from home.from Paris, Donahoe was asked about the company's lack of fresh new products in its assortment, which had been a concern among investors.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyHe pointed out that footwear factories in Vietnam were forced to shutter during the Covid-19 pandemic but said"even more importantly," Nike's employees worked from home for two and a half years. The chief executive's comments come at a tough time for the company. Some analysts and investors have criticized the sneaker giant for falling behind on innovation and losing market share toto reduce costs by about $2 billion over the next three years. It also cut its sales guidance as it warned of softer demand in the quarters ahead., or more than 1,500 jobs, so it could invest in its growth areas, such as running, the women's category and the Jordan brand.
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