Nike shares climb on Q2 earnings
FOX Business’ Nicole Petallides reports on Nike’s second-quarter earnings statement and what this means for sports retailers.
Nike Inc. is investigating allegations of workplace misconduct and told employees its second-most senior executive has resigned effective immediately under unspecified circumstances, the Wall Street Journal reported on Thursday.
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Company CEO Mark Parker disclosed the resignation of Trevor Edwards, president of Nike brand, in a memo to staffers. In the same memo, Parker reportedly said the company is investigating reports of “behavior occurring within our organization that do not reflect our core values of inclusivity, respect and empowerment.”
Parker’s memo added that Nike is reviewing its human resources practices and procedure for reporting complaints. It’s unclear if Edwards’s exit is related to the allegations of workplace misbehavior, or if any Nike executives stand accused of misconduct. Edwards will purportedly retire from Nike in August.
Nike representatives did not immediately respond to FOX Business’s request for comment.
The report comes days ahead of Nike’s next quarterly earnings report. The sportswear giant will disclose results for its third fiscal quarter after market close next Thursday.
