The Globe and Mail reports in its Saturday edition that after dominating the athletic footwear market and watching its stock go virtually straight up for decades, Nike suddenly began to smell like the Toronto Raptors' locker room after a gruelling triple-overtime loss. The Globe's John Heinzl writes some ways, Nike was the author of its own misfortune. In 2017, the company decided to emphasize its direct-to-consumer business. This worked well during the COVID-19 pandemic as more consumers shopped on-line. However, as lockdowns were lifted, Nike's e-commerce sales skidded. Adding to Nike's woes, competitors including Adidas and upstart brands such as On and Hoka upped their games. In June, Nike experienced the stock market equivalent of a ruptured Achilles tendon after it projected that revenue would fall in its current fiscal year, sending the stock to its biggest one-day drop on record. Less than three months later, Nike named a new chief executive officer. Whether the new guy will be able to clear the putrid odour hanging over Nike remains to be seen, but investors should keep a can of air freshener handy.