Nike's Sales Plunge, CEO Admits Recovery Hurdles
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Nikes stock plummeted nine percent in after-hours trading following a grim revenue forecast, with sales expected to drop two to four percent in the current quarter. Despite beating earnings expectations, the companys turnaround push is facing challenges due to higher tariffs, rough times in China, and other global disruptions. Nike plans to adopt a more local strategy in China and will provide more details on their long-term plan at the investor day this fall.
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