The Rundown Nike Announces Layoffs, Affirm Posts First-Ever Profit
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Aug 29, 2025 Tune in for a breakdown of Nike's recent layoffs and their strategic shifts in response to changing economic conditions. Explore the implications of the ending de minimis loophole on international trade. Delve into Affirm's impressive leap into profitability, fueled by partnerships with major players like Amazon and Shopify. Plus, hear about Alibaba's cloud revenue growth and the challenges Dell faces in the current market. Dive into an engaging discussion that sheds light on the future of these influential companies!
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Inflation Won't Derail Imminent Rate Cut
- The PCE inflation rate in July was 2.6% year-over-year, slightly above the Fed's 2% target.
- Markets still price an 87% chance of a September rate cut because the Fed is focused more on labor market weakness than sticky inflation.
Nike's Back-to-Sport Turnaround
- Nike is laying off ~1% of corporate staff as CEO Elliott Hill reverses the prior strategy away from fashion toward sport.
- Hill is rebuilding sports-focused teams and mending wholesale relationships to regain Nike's athletic credibility.
De Minimis End Sparks Global Shipping Chaos
- The U.S. ended the de minimis rule, removing the $800 tariff-free threshold for all imports and already halting many international postal shipments.
- The change may raise about $10 billion in tariffs but is causing immediate logistical chaos and customer frustration.