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Nike shares experienced a significant drop, plummeting nearly 20% after the company cut its full-year guidance and warned of a 10% sales decline in the current quarter. The sportswear giant cited soft sales in China and uneven consumer trends globally as key factors. Despite beating earnings estimates, Nike fell short on revenue, leading to a reevaluation of its fiscal outlook. The company now expects fiscal 2025 sales to decrease mid-single digits, reversing previous growth expectations. As Nike navigates these challenges, it focuses on innovation and a balanced portfolio to drive long-term growth. |
Why did Nike shares drop sharply?
Nike shares plunged nearly 20% after the company cut its full-year guidance and warned of a 10% sales decline in the current quarter.
What factors contributed to Nike’s disappointing sales forecast?
Nike cited soft sales in China, uneven consumer trends globally, and slower online sales as key factors for the disappointing forecast.
How did Nike perform in its recent quarterly earnings report?
Nike beat earnings estimates with $1.01 per share but fell short on revenue, reporting $12.61 billion compared to the expected $12.84 billion.
What are Nike’s expectations for fiscal 2025 sales?
Nike now expects fiscal 2025 sales to decrease mid-single digits, compared to analyst estimates of a 0.9% increase.
What strategic changes is Nike implementing to address its challenges?
Nike is focusing on innovation, reducing the supply of classic franchises, and repositioning its portfolio to drive sustainable, long-term growth.
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