Nike shares plunge after sneaker giant warns sales could fall by double digits
Nike’s shares dropped sharply Friday as investors questioned CEO Elliott Hill’s turnaround strategy after the company warned of a deeper sales decline. Nike reported a 9% drop in holiday quarter sales, including a 17% slump in China, and projected mid-teens percentage declines for Q4, worse than expected. The company blamed weak demand, new China tariffs, and external uncertainties. Nike is reversing past retail strategies, bringing … Continue reading Nike shares plunge after sneaker giant warns sales could fall by double digits
