Nike Inc. (NKE) Stock: Barclays Backs Recovery Despite Weak China Sales

Nike shares tumble: China slump, Q1 miss and the pace reset plan

Nike**;s investors wanted proof that the turnaround by chief executive officer Elliott Hill was gaining speed, instead, they were met with softer sales, a full-year guide well below expectations and a warning that more pain is coming, inducing a slip in confidence and a fall in shares. The trouble traces back to weak sales in […]

Nike Inc. (NKE) Stock: Barclays Backs Recovery Despite Weak China Sales

TLDR Nike stock rises 0.27% to $33.96 as Barclays keeps its Buy rating Barclays cuts Nike’s price target to $37 from its previous $48 level Nike revenue falls 4% to $11.21 billion and misses Wall Street forecasts China sales drop 26% as Nike faces weaker demand and local competition Nike shares remain down 47% in [...]