“Nike shares plunge after retailer says quarterly sales will fall 10%, warns on China weakness” [JUN 27 2024]
July 1, 2024
“Shares of Nike plunged on Friday after the retailer cut its full-year guidance and said it expects sales to drop 10% during its current quarter as it warned of soft sales in China and “uneven” consumer trends across the globe.
The expected 10% first-quarter slump is far below the 3.2% drop that analysts had expected, according to LSEG. Nike shares plunged nearly 20% in trading Friday…”
https://www.cnbc.com/2024/06/27/nike-nke-earnings-q4-2024.html