#RevenueDrop

thehardnewsdailyThehardnewsdaily
2024-06-28

⭕ Nike forecasts surprise revenue drop for fiscal 2025, citing competition from upstart brands like On and Hoka.

👟📉 Shares plummet over 12% in after-hours trading.

Analysts anticipated growth, but Nike expects a mid-single-digit percentage decline in annual revenue. Fourth-quarter revenue also fell short of estimates.

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