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.
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Nike shares plunge after sneaker giant warns sales could fall by double digits
Nike’s shares plummeted Friday as investors grew wary about new CEO Elliott Hill’s turnaround plans after the struggling sneaker giant warned that sales could plunge by double digits.
·New York, United States
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Total News Sources25
Leaning Left3Leaning Right4Center4Last UpdatedBias Distribution36% Center, 36% Right
Bias Distribution
- 36% of the sources are Center, 36% of the sources lean Right
36% Right
L 27%
C 36%
R 36%
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