Nike's Q3: Sales Flat, China Sluggish
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Nikes fiscal third quarter results, ending February 2026, showed flat sales, shrinking gross margins, and a 35% drop in net income, leading to a stock price below $50. Direct sales decreased, while Converse struggled, and China sales lagged behind rivals. Wholesale business improved, and Nike holds $8.1 billion in cash. Investors are cautious due to broader consumer spending uncertainty and tariffs. Patient investors may see value in the brand, but positions should be kept small until a rebound is confirmed.
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