Nike shares hit 5-year low as tariffs and consumer caution threaten sales
- Nike's stock fell about 7% as it acknowledged the pressure from President Donald Trump's new tariffs, affecting its earnings outlook and operations.
- The company reported $11.3 billion in revenue but anticipates a mid-teens percentage decline for fourth-quarter revenue, exceeding analyst expectations.
- Nike's sales in China dropped by 17%, attributed to tariffs and weak consumer demand, leading to pressure on overall revenue and margins.
- CFO Matthew Friend expects fourth-quarter revenue to decline in the mid-teens percentage range, which would exceed analyst expectations.
25 Articles
25 Articles
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