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FOS PM: Nike steps up production

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Nike has received good news from its Vietnamese subcontractors by announcing an increasingly rare retail partnership.

The subcontractors that Nike and other major shoe brands depend on have reopened in Vietnam. About 70-80% of the factory’s workforce returned to the southern regions of the country.

The Pou Chen Corp., a major manufacturing partner of Nike, initially only had a 20-30% return from its workforce when factories reopened in October, creating a shortage of around 40,000 workers. Pou Chen closed its factory in Ho Chi Minh City in July due to the increase in COVID-19 cases.

Nike plans to invest more in production in Vietnam, according to a Vietnamese government website.

In the United States, Nike continues to reconfigure the way it sells its shoes and clothing.

  • On Wednesday, the company announced a partnership with Dick’s Sporting Goods which will link their membership programs and sell exclusive Nike shoes and apparel on Dick’s website.
  • Ultimately, the two companies could join forces to offer in-person training and allow customers to collect and return Nike orders at Dick’s stores.
  • Nike cut relationships with other third-party retailers to focus on direct-to-consumer sales.

Wholesale trade accounted for 61% of total Nike brand sales of $ 42.3 billion for the year ending May 31, down from 65% the previous year.

Danielle Parhizkaran-USA TODAY Sports / Design: Alex Brooks

Discovery announced a 23% increase in year-over-year revenue to $ 3.15 billion and a total of 20 million paying subscribers in Wednesday’s third quarter earnings report.

The 3 million subscribers added in the quarter were largely due to Discovery’s broadcast of the Tokyo Olympics in Europe. He has a $ 1.5 billion OK for European rights at the Olympic Games 2018-2024.

The company said it “had exceeded 372 million people in Europe through television and digital platforms, and delivered 1.3 billion minutes of Olympic content ”on its streaming services during the Summer Games.

US advertising and distribution revenues increased by 5% and 21% respectively during the quarter, while international advertising and distribution revenues increased by 28% and 7%.

Spending on the Olympics and growth in streaming made up for the success.

  • The platform’s annual revenues have fallen to $ 156 million in the third quarter, up from $ 300 million.
  • Discovery’s linear subscribers fell 8% year-over-year, in part due to the sale of its Great American Country network.
  • Operating expenses in the United States increased by 26% to $ 895 million, and international operating expenses soared to $ 1.27 billion, up 77%.

The broadcaster has a pending merger with AT & T’s WarnerMedia. The combined company should have 52 billion dollars in sales Next year.


Bill Streicher-USA TODAY Sports / Design: Alex Brooks

NBA star Kevin Durant launched Infinite Acquisition Corp., a blank check company that filed an initial public offering of $ 200 million on Wednesday.

PSPC will sell 20 million shares at $ 10 apiece and has pledged to buy back 100% of the shares for cash if he fails to acquire a company to go public within 18 months of its IPO.

Infinite will focus on acquisitions in sports, e-commerce, and cryptocurrency.

Durant will be co-CEO of Infinite with Rich Kleiman, his business partner in Thirty Five Ventures, a venture capital firm launched by the duo in 2016.

Infinite joins Durant’s growing list of investments in sports and technology.

  • In March, it invested in Andbox, an esports organization and a team operator.
  • He participated in a $ 3.5 million seed funding round for Just female sport in May.
  • He competed in a Series B round in July for OpenSea, an auction platform for TVNs.
  • He participated in a $ 15 million round for a collectibles trading app Rally in October.
  • That same month, he was part of a group that invested $ 100 million in SeatGeek.

The two-time NBA champion is expected to earn $ 87.9 million in 2021-22 between his salary of $ 40.9 million and around $ 47 million from off court companies.

  • In today’s Leadoff, F1 propels Ferrari to double-digit growth, Greg Norman leads Saudi-backed rival in PGA Tour, Ralph Lauren relies on sports in Q2 and Activision Blizzard displays strong profits while working to reform corporate culture. Click here to listen.
  • The nfl announcement a multi-year exclusive licensing agreement Wednesday with Aristocrat Gaming to build NFL-themed slots.
  • All birds outmoded its IPO goal of raising $ 303 million by selling more than 20 million shares on Tuesday at $ 15 apiece. The shoemaker expected to sell 19 million shares for between $ 12 and $ 14.
  • The Best Employers in Sport are back! Whether it’s excellent leadership, a commitment to D&I, employee well-being, or social endeavors, the BES award seeks to recognize organizations that do good with their teams. The the investigation is open now until November 12!


(Note: from the close of the market on 23/11/21)

The Atlanta Hawks (4-3) face the Brooklyn Nets (4-3) tonight at the Barclays Center.

How to watch: 7:30 p.m. ET on ESPN

Betting odds: Threads -5 || ML -195 || O / U 220 *

To take: Expect Kevin Durant to maintain his strong start to the season. Take Brooklyn to cover.

Who do you have? Respond to this newsletter with your prediction for the winner of the Hawks-Nets and the final score.

Yell: Congratulation to Mia Mundy FOS Reader for predicting Atlanta’s World Series victory!

* Dimensions / lines subject to change. The T & Cs apply. See draftkings.com/sportsbook for details.Software scanner link

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