Has there been any indication of PSP payout? Some who were affected are eligible, but we don’t know if anything has come out saying they are doing it this year, or “it is tracking” or whatever non-committal language. I’m assuming they will do it to stop the bleeding after the hellish year. Would be nice for those of us who are unemployed now.
Any word?
yeah but they changed the formula this year, so those low percentages are more likely now that profit is a factor vs sales alone.
@1pe is correct. PSP is to Nike employees what Social Security is to retirees.
Nike knows that if they get too skimpy with it, it would create a serious retention problem.
The lowest PSP I’ve ever seen in 20 years was in the mid 60’s. I think around 2009 maybe? I’d be surprised if you see less than that. If growth doesn’t pick up though PSP in future years might start looking ugly.
Literally JD has mentioned it in every single quarterly earnings note he sent us. He said something like "we're on track but lots of focus required". Y'all live in a cave? Read the man's statements...
They’ve always juiced PSP following layoffs. They’re asking everyone to do 2x more work after all.
If they didn’t they would lose a lot of the doers that they were hoping to retain.
We’re not going to get 100% but if they give anywhere near the 25% minimum (or nothing at all) I’ll be gone within a month.
Don’t count on it. Our products aren’t selling full price anymore. With so much margin degradation and the strong push to clean up inventory before EOQ, we’re leaning on our strategic accounts to help take product off our hands to show analysts that our inventory position is strong. Meanwhile you’re going to see our best product in the malls and online. All that to say I don’t think we can manage a triple crown this quarter. Fingers crossed but just don’t expect it.
They will announce it at the same time as Q4 earnings, just like they do every year.
No news unfortunately