Nike's Sales Plunge, Shares Tank
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Nikes sales revival plan faces delays, causing shares to plummet by 14% in New York trading. The company predicts a 2-4% drop in sales for the upcoming quarter, missing analyst expectations. Weak footfall in Chinese stores and increased competition from rivals like On and Hoka are contributing to the setback. Despite the challenges, Nikes CEO remains committed to building a stronger foundation for future growth.
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