US EditionNike withdraws annual revenue forecast, shares drop 6%
- Nike Inc. reported first-quarter revenue of $11.59 billion, which was below analyst estimates of $11.65 billion.
- Total revenues decreased by 10% year-over-year.
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Nike Q1 Earnings: Revenue Miss, EPS Beat, Teams 'Energized' Amid CEO Transition — 'A Comeback At This Scale Takes Time, But We See Early Wins' - Nike (NYSE:NKE)
Nike reported first-quarter revenue of $11.59 billion, missing analyst estimates of $11.65 billion.
·New York, United States
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Nike withdraws annual revenue forecast, shares drop 6%
Nike withdrew its annual revenue forecast on Tuesday and missed estimates for quarterly revenue as the sportswear giant battles weak footwear demand amid stiff competition from newer brands globally, sending its shares down 6% after hours.
·United Kingdom
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Associated Press News+2 Reposted by 2 other sources
Nike's quarterly sales and profits slump as it faces shoppers' sluggish demand for its products
Nike has reported a slump in sales and profits for its fiscal first quarter as the sportswear giant wrestles with shoppers’ sluggish demand for new sneaker models.
·United States
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Total News Sources11
Leaning Left2Leaning Right1Center8Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
73% Center
L 18%
C 73%
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