Nike's Q3 Miss: Sales, Margins Drop, China Woes
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Nikes Q3 earnings beat expectations, but stock plummets due to mixed bag and disappointing forward guidance. Sales dipped year-over-year, with Nike Direct and digital sales declining. Gross margins shrank, and store sales fell. Investors are concerned about a two to four percent sales decline in Q4 and a twelve percent drop in Greater China, with local brands gaining share amid tensions.
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