NIKENYSE: NKE

Nike Inc. (NYSE: NKE) has seen a 22% decline in its stock price this year, amid challenges including slower global demand and a sales strategy shift that hasn't yielded expected results.

Consumer discretionary stocks include companies from various industries that provide goods and services that are not essential. These stocks represent businesses that rely on consumer spending for items that are considered luxuries or non-necessities.

Nike (NKE) closed at $78.85 on the most recent trading day, showing a decrease of 0.24% from its previous closing price.

A lot of money is involved in the 2024 World Series. As the Los Angeles Dodgers and New York Yankees start their important playoff series this Friday night on Fox, the excitement around both teams is likely to create a lot of attention and income for the network and Major League Baseball.

NKE has revealed a 12-year extension for its merchandising and marketing partnership with the NBA and WNBA. The company has been increasing its investment in the WNBA.

Nike Inc has signed a new 12-year deal to continue being the exclusive supplier of uniforms for NBA and WNBA teams. This agreement comes after an eight-year partnership that began in 2015, which was estimated to have cost Nike about $1 billion to feature its logo on the jerseys for the first time.

Nike is a strong company that is currently facing some challenges. However, this situation is only temporary.

NEW YORK--(BUSINESS WIRE)--NIKE, Inc. (NYSE: NKE) has announced a 12-year extension of its partnership with the National Basketball Association (NBA) and the Women's National Basketball Association (WNBA). This agreement confirms NIKE, Inc. as the top brand in global basketball and the sole provider of on-court uniforms and apparel for the NBA, WNBA, and NBA G League. NIKE, Inc. will continue to design and produce merchandise for an additional 12 seasons.

Over a long period, this consumer discretionary stock has performed very well.