Reported about 15 hours ago
Nike is projected to report an 11.5% decline in quarterly revenue, marking its worst drop since the pandemic's fourth quarter in 2020. This downturn is attributed to reduced consumer interest in non-essential items and declining foot traffic in stores. New CEO Elliott Hill is tasked with revamping the brand, but analysts indicate that more comprehensive strategies are needed for recovery, as recent product launches alone may not suffice. Investors are particularly eager for updates on efforts to clear unsold inventory and strengthen retailer relationships.
Source: YAHOO