'Just Undo It' : How Nike Lost Its Swoosh And $230 Billion

Nike had a winning formula -- make great shoes; sign the biggest athletes; create campaigns people remember; put the swoosh everywhere; and tell the world to "Just Do It".Today, the slogan carries a very different irony. Nike is cutting jobs, reorganising its global business, warning of another sharp fall in sales and trying to repair problems that have been building for years.Nike's revenue fell 4 per cent to $11.2 billion in the quarter ended August 31. Profit fell 2 per cent to $712 million. More worrying was the outlook. The company expects fiscal 2027 revenue to decline by a high-single-digit percentage.Investors did not like what they heard. As a consequence, Nike shares fell as much as 8.5 per cent in extended trading after the results, adding to a brutal decline that has already erased a huge chunk of the company's market value.