Reported about 22 hours ago
Nike's stock fell by approximately 5% after the company reported better-than-expected earnings for the third quarter, but expressed concerns about the potential impacts of tariffs, particularly a 20% duty on Chinese imports. New CEO Elliott Hill highlighted the expected decline in gross margins for the fourth quarter due to these tariffs, alongside decreasing consumer confidence influenced by inflation worries. Despite outperforming revenue estimates, Nike anticipates significant challenges ahead in a competitive landscape.
Source: YAHOO