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Nike CEO says its comeback plan is taking longer than expected, sending shares tumbling more than 8%

Nike’s “Win Now” turnaround plan isn’t seeing immediate results.

The sports giant announced its third-quarter earnings results for fiscal year 2026 on Tuesday, and revenue remained flat at $11.3 billion. Nike shares moved lower after market close, falling more than 8% despite the company delivering better-than-expected results.

On the call, CEO Elliott Hill said the company’s comeback is taking “longer than I would like,” but he and other executives expressed confidence in the approach.

So far, running is leading the charge with growth. It was the first category to move into the “sport offense,” which puts sports back at the center of its mission, as the company leans more into performance wear.

“The pace of progress is different across the portfolio, and the areas we prioritized first continue to drive momentum,” Hill said in the earnings press release.

Meanwhile, other parts of the portfolio, including Greater China, Converse, and sportswear, are still in earlier stages of their comebacks, the company said. Nike’s digital sales declined 9% in a drop that the company said is due in part to being too promotional with higher markdowns.

Sportswear continues to be a headwind to revenue growth for Nike as it declined by low double digits in the quarter. It’s continuing its efforts to clean up inventory, which it said has taken several quarters to execute. The Nike sportswear and Jordan streetwear teams are moving from playing defense to playing offense, the company said.

“There is both an art and a science to seeding, igniting, and scaling new sportswear styles,” Hill said.

In March 2025, Nike publicly rolled out its turnaround plan, which Hill calls its “Win Now” strategy. The effort has reoriented the company around sports from running to basketball, rather than gender or age.

CFO Matthew Friend said Nike expects revenues to be down low single-digits compared to the prior year, with gains in North America offset by declines in Greater China. Assuming no significant changes, after the first quarter of fiscal 2027, higher tariffs are expected to ease for Nike, Friend said on the call.

“Given the softness in sportswear, traffic patterns, and promotions across Europe, as well as recent disruption in the Middle East, we anticipate ending the fourth quarter with elevated inventory,” Friend said.

The company expects to finish its “Win Now” actions by the end of 2026.




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My husband and I started doing adult paint-by-numbers to get off our phones. The hobby’s benefited us more than we expected.

I’m stuck in a doomscrolling loop again.

My algorithm drags me down the rabbit hole of videos people posted to social media to declare 2026 as the year they … get off social media.

I see more and more videos with mass declarations to “go analog” and focus on screen-free activites. The irony is thick, but with the world on fire around me the sentiment has appeal.

I’m not naive enough to think this movement is new or will last in any meaningful way, but participating seems like a nice way to take a breath and find some good in the rubble.

As I watch another video and then one more, an idea starts to take root. What if I start a new hobby to get off my phone, even if just for a little while each day?

And what if my husband joins me?

Although it felt out of our comfort zone, we bought paint-by-number kits


Table with paints, papers with partially painted artwork

I started doing paint-by-number canvases with my husband.

Tawnya Gibson



When I share this idea with my husband, he brings up the idea of buying paint-by-number kits that are designed for adults.

It’s far out of our comfort zone. But before either of us have a chance to talk ourselves out of this, we pop into an art store.

We both decide to buy larger canvases mostly to have a longer-term project, not because we are certain we have the right abilities. About $30 later, we’re still wondering what we are thinking.

When we get home, we bring down a folding table from our office. It’s just the right height to share as we sit on our loveseat, water, brushes, and paper towels between us.

Keeping our paints separated, we turn on reruns of “New Girl,” grab our reading glasses and glob the colors on our canvases — him a streetscape of Brooklyn, me a skyscape of London — both quietly hoping they’ll be nice enough to hang on our bedroom wall when we’re done.

These nights off our phone become our lifeline to feeling lighter, like when we were first married


Man and woman wearing hats, smiling

It’s nice that a simple hobby has helped us talk and laugh more.

Tawnya Gibson



Several things soon become clear. First, we may have overestimated our abilities and how difficult an adult paint-by-number could be.

Next, we are taking vastly different approaches to the task. I am starting with the larger areas, swirling my brush and not coming close to the canvas edge until the very last minute, desperate to not make a mistake.

My husband goes for the smaller details in the darkest color. He has read all the instructions. I’ve tossed mine straight into the recycle bin.

Our personalities are similar until they aren’t. I have a need to catastrophize before I build a plan. My husband is logical with a more black-and-white way of thinking. I feel these differences highlighted as we paint.

Over the span of two or three episodes of “New Girl,” I’ve delayed starting, given up, and restarted a dozen times. My sky looks terrible, punctuating my lack of artistic talents.

I declare total disaster in between every laugh, fret about running out of pink sky No. 12, and stop long before the last episode of the night comes to an end.

Still, we continue painting night after night.

The progress is slow and neither of us are sure when we’ll be done. But something happens on the nights we choose painting over retreating with phones in hands: Our home is kinder. We talk. We laugh.

The stress of getting the strokes within the lines is the lighter type of stress we used to have when our marriage was young.

On our way to bed, we stand up. Assess. Comment on our progress and sleep a little easier.

We’re remembering what it’s like to do something with no goal or agenda. We’re enjoying our time together less online.

Maybe when we’re all done, I’ll post a picture in a hazy filter and show off my pink-skyed London, mistakes on full display — a little analog badge to celebrating remembering how to live.




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I moved to Thailand to recover from burnout. Living here has been harder — and better — than I expected.

As a frequent traveler, I fell in love with Thailand’s diverse landscapes, rich culture, and — best of all — the food. So when I experienced career burnout in 2024 after five years in Hong Kong and needed a soft landing, Thailand felt like an instant safe haven.

I knew it like the back of my hand (or so I thought), and with the introduction of the digital nomad DTV visa that same year, the leap felt like a no-brainer.

Living here has largely lived up to my expectations. Still, the shift from enthusiastic visitor to long-term resident came with challenges I hadn’t anticipated.


A tuk tuk in Bangkok near Sala Deeng station.

Finding silence in Bangkok proved difficult, so he relocated to Phuket.

Provided by Andre Neveling



City buzz versus island serenity

I began my new life with a three-month immersion in Bangkok, my favorite city in the world. I wanted a familiar landing pad and the festive energy. I learned that even favorites have their downsides.

The city’s relentless buzz — thrilling at first — slowly became overwhelming. The constant motion, traffic, and density fueled my anxiety. In a metropolis so vast, finding genuine silence or peace felt nearly impossible. I often wanted to switch it all off, but Bangkok doesn’t come with an off switch.

As a remote freelancer, I had the freedom to chase a different dream by moving to Phuket. For anyone who’s ever wondered what it’s like to live there, it really does feel like paradise with a permanent holiday vibe. Even so, I realized how little I’d truly known it as a tourist. I keep discovering corners I’d never seen before.


A beach with sunbathers in Phuket, Thailand.

Despite Phuket always being packed with people, he found it difficult to make friends.

Provided by Andre Neveling



High season nightmare

Then high season arrived. My peaceful paradise transformed into an overtourism nightmare, especially in December and January. Secret beaches swarmed with festival-like crowds, and daily routines fell apart. Food deliveries took hours, shops ran out of staples, and transport apps like Grab and Bolt were overwhelmed.

On one recent beach day, I couldn’t book a ride home for nearly three hours, leaving me stranded in a roadside meltdown. My Zen mood quickly gave way to frustration.

Ironically, on an island packed with people, making real connections has felt harder than in Bangkok. With tourists constantly coming and going, most interactions are fleeting. Expat communities exist, but they’re scattered and often divided by nationality. Even amid the crowds, island life can feel surprisingly lonely.

Navigating the nuances

Then there’s the bureaucracy. Thailand operates with a certain fluidity that can be confusing. Laws around visas, business, and property don’t change often, but their interpretation can vary wildly between offices, officers, and provinces.

Take the 90-day reporting rule. It requires expats to report to immigration every 90 days, an outdated system that often pushes people to do quick “visa runs” instead of spending a full day in line. Many newcomers don’t learn about it until they’re hit with a hefty fine.

I’ve since joined expat groups just to keep up with the ever-shifting rules.

The constant tourist bubble

Thailand’s sex industry is impossible to ignore in heavy tourist zones. Living here, I’ve had to build a certain emotional distance from it. When I first arrived in Phuket, I stayed in a room next to a tourist who was clearly there for that purpose. For a week straight, I was an unwilling audience to noisy transactions — until I finally complained to management.

And as a foreigner, you’re often placed in the “tourist” box by default. I thought Tinder might be a way to meet people. Instead, half my matches offered a “massage” rather than a conversation.


Woman sending coconuts and drinks in Thailand.

Now that he’s become a regular at local markets, he receives the occasional “special price.”

Provided by Andre Neveling



Finding my footing

Thailand is known for its affordability, but a clear divide still exists between local and foreign pricing. You have to stay vigilant to avoid overpaying. The reward comes with time. As I’ve settled in and become a regular at local markets and shops, I’m now greeted with smiles — and the occasional “special price.”

That, in the end, is what makes all the headaches fade.

For every moment of frustration, there are many more filled with beauty, incredible food, and genuine kindness. The trade-offs are real, and the challenges come with the territory.

But most days, when I look around at the place I now call home, the struggles feel like a small price to pay for living in a real-life paradise.

Do you have a story to share about living abroad? Contact the editor at akarplus@businessinsider.com.




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Amazon expected to cut thousands more corporate jobs soon

  • Amazon plans to lay off thousands of corporate employees in coming days.
  • This second major round of Amazon layoffs since October would bring the total to about 30,000 jobs.
  • Amazon is trying to streamline operations and reset its culture.

Amazon is planning to eliminate thousands of corporate employees, with cuts expected to begin as soon as next week, according to people familiar with the matter.

The reductions would mark the company’s second wave of mass layoffs since October, when Amazon cut about 14,000 jobs. Two of the people said the company is expected to eliminate a similar number of roles in the coming round, bringing total job cuts to almost 30,000.

The latest cuts underscore Amazon’s continued efforts to streamline operations and reset its culture.

Amazon first attributed the October job cuts to changes brought on by AI. But CEO Andy Jassy later said the layoffs were instead tied to cultural fit, not cost savings or AI.

Amazon employs more than 1.5 million people globally, though its corporate workforce makes up a relatively small share, at about 350,000.

An Amazon spokesperson did not respond to a request for comment.

Have a tip? Contact this reporter via email at ekim@businessinsider.com or Signal, Telegram, or WhatsApp at 650-942-3061. Use a personal email address, a nonwork WiFi network, and a nonwork device; here’s our guide to sharing information securely.




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US planning for the Maduro raid eyed a time when much of the Venezuelan military was expected to be on holiday, memo reveals

US planning for the high-risk raid to apprehend Venezuela’s former president, Nicolás Maduro, centered on a time when much of the country’s military would be on holiday leave, a newly released memo reveals.

The December 23 memorandum from the Department of Justice’s Office of Legal Counsel offers fresh details about how the US planned to pull off the daring nighttime raid to capture Maduro in his fortified compound and transport him to New York to stand trial. The former leader has pleaded not guilty to the drug and weapons charges he faces.

The raid began late on January 2 and ran into the next day. President Donald Trump said on January 3 that the initial plan was for the operation to occur four days earlier, on December 30, but he decided to wait for better weather.

“The expected duration of the operation within Venezuelan territory is [redacted] hours,” wrote T. Elliot Gaiser, a US assistant attorney general, wrote in the late December DOJ memo, which looks into the legality of the raid and was made public this week. Much of the planning section is blacked out.

“In order to minimize casualties, the strike will take place at 0100 am (local time) on a date where a maximum number of Venezuelan military would be on leave for the holidays,” Gaiser wrote.


A squad of Venezuelan Air Force K8W aircraft overflies during the 2025 Venezuela industrial aviation expo at the Libertador Air Base in Maracay, Aragua State, Venezuela, on November 29, 2025.

The US attacked Venezuelan military targets as part of its raid earlier this month.

Federico PARRA/AFP via Getty Images



It’s unclear how many soldiers were away when the US actually executed the operation in January. Dozens of Venezuelan and Cuban security personnel were killed, the two countries said after Operation Absolute Resolve concluded.

The DOJ memo, which cited Pentagon planning information and details how the US could effectively present the action as a law enforcement operation rather than an act of war, said that the US expected to encounter “significant resistance” from Venezuela’s air defenses.

That anticipated resistance includes several dozen anti-aircraft systems on the approach to Fuerte Tiuna, a major military installation in Caracas where Maduro and his wife were believed to be and, indeed, were at the time of the operation.

The memo outlined how US aircraft would strike air defense systems to clear a path for assault forces to reach Tiuna. It said that the Pentagon aimed to target a local power switching station to keep the power off, which could explain Trump’s post-raid remarks that a “certain expertise” was used to turn off the lights in Caracas.

The US could have also carried out a cyberattack or employed electronic warfare capabilities. “Kinetic operations will be preceded by non-kinetic action,” the memo said.


A fuel tanker truck drives past US Air Force F-35 Lightning II and F-22 Raptor fighter jets on the tarmac at the former Roosevelt Roads naval base, after US President Donald Trump said the US has struck Venezuela and captured its President Nicolás Maduro, in Ceiba, Puerto Rico, January 3, 2026.

More than 150 US aircraft participated in the operation.

Eva Marie Uzcategui/REUTERS



The memo was published several days before the raid, so it’s unclear how US planning may have changed between the time it was written and the actual operation.

Dan Caine, the chairman of the Joint Chiefs of Staff, said on January 3 after the raid that more than 150 US aircraft participated in the operation, including stealth jets, electronic attack aircraft, surveillance and reconnaissance planes, airborne early warning aircraft, bombers, and drones.

Many of these aircraft targeted and engaged Venezuela’s air defenses to clear a path for low-flying helicopters carrying the forces that stormed Maduro’s compound and apprehended the former president and his wife, consistent with the planning memo.

The US didn’t lose any aircraft during the raid. A helicopter took a hit but still remained operational, and a defense official said seven American service members were wounded during the night.

“Risks to the mission are significant,” the memo said, adding that its “success will depend on surprise.” In the aftermath, Caine said the US achieved “totally the element of surprise.”




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Jobs report updates: US added fewer jobs in December than expected, but unemployment dropped

It’s jobs day in America.

The US added 50,000 jobs in December, and the unemployment rate dropped to 4.4%, according to the Bureau of Labor Statistics’ monthly report on the employment situation.

Economists expected to see 70,000 jobs added in the final month of 2025, and an unemployment rate of 4.5%.

The report wraps up a year of a job market marked by a “Great Freeze” in which companies haven’t been hiring very much, employees haven’t been switching jobs a ton, but large-scale layoffs that would mark a deeper downturn haven’t materialized yet either.

Check back here for updates leading up to and following the biggest job market data release of the month.




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