Software engineers straight out of college often make six-figure salaries, not counting equity compensation.Technologyread more
Representatives from the Chinese side say they think it likely that Chinese President Xi Jinping will attend the G-20 meeting later this month. But in order to reach a trade...China Economyread more
Wall Street, though, is clamoring for a rate cut, with an 85% chance of a move in July and a 61% probability of three reductions by year's end.The Fedread more
A company spokesperson said the outage was the result of a "an internal technology issue" and was not security related.Retailread more
Using MIT's living wage calculator, CNBC Make It mapped out the minimum amount a single parent must earn to meet their basic needs without relying on outside help in every...Earnread more
In the survey, 66% of Democratic primary voters say they'd be enthusiastic or comfortable about Biden as their nominee to take on President Trump in the 2020 election. Just...Politicsread more
You can save money by doing a quick check and unsubscribing from apps you no longer use.Technologyread more
The flattening of the yield curve is exuding a bad omen for the stock market if history is any guide.Marketsread more
Stratolaunch, the world's largest airplane, which flew once, is up for sale, sources familiar told CNBC.Investing in Spaceread more
Transparency is key… or is it? With the first-ever non-transparent, actively managed exchange-traded fund receiving approval from the SEC, "ETF Edge" goes straight to the...ETF Edgeread more
Mired in a crisis over its best-selling 737 Max plane, Boeing could hand the spotlight over to its rival Airbus at the Paris Air Show.Airlinesread more
Nike shares jumped Wednesday as the sporting-goods retailer offered a glimpse at its sales expectations for the future.
At its investor day in Portland, Oregon, Nike said it expects earnings-per-share growth in the mid-teens over the next five years. The company added that it anticipates revenue growth in the high-single digits over the same period.
Nike shares jumped more than 2 percent on the news, and were last trading up a little more than 1 percent.
Prior to Wednesday, the company had already set a revenue goal of $50 billion by 2020.
Looking ahead, Chief Executive Mark Parker told analysts and investors that digital revenues should grow from 15 to 30 percent over a five-year period. He also talked the audience through an innovated product pipeline, with a heavy focus on women's footwear.
Nike's brand president, Trevor Edwards, then chimed in to say the shoe maker will move away from "undifferentiated" retail channels in the coming years. "Mediocre retail won't survive," Edwards said.
Nike is calling for about 50 percent of its future sales growth to stem from new categories and innovation. And about 75 percent percent of growth is expected to come from outside the U.S., according to Nike.
Earlier this year, Nike posted strong sales growth in its international geographies, particularly China. Meantime, Nike's North America wholesale revenues continued to decline into the fiscal first quarter and ahead of the all-important holiday season.
In a competitive retail environment, Nike is seen as favoring discounts and heavy spending to grow its direct-to-consumer business. In June, Nike revealed plans to cut about 2 percent of its global workforce, also trimming its geography segments from six to four — signs the company is trying to reduce expenses.
Nike is also in the midst of working on a pilot program with Amazon, which allows the Oregon-based retailer to directly sell a limited product assortment on Amazon.com, something Nike had refused to do for decades.