Nike Is Down About 80% From Its Peak and Just Told Investors Sales Will Fall Again
6 Articles
6 Articles
Nike Is Down About 80% From Its Peak and Just Told Investors Sales Will Fall Again
Nike's stock has collapsed from its highs, analysts still show a 30% upside gap, and management just guided earnings far below what Wall Street expected. The math behind those price targets tells a very different story.
Nike Plans Job Cuts as Sales Slide
Nike is lacing up for life as a learner company. After back-to-back quarters of wearer revenue, the sportswear giant says it expects sales to keep sliding through its fiscal year ending May 2027 and will trim operations, cut jobs, and consolidate regional units, the Wall Street Journal reports. CEO Elliott...
Forecasts for 2027 fell far short of consensus and Nike anticipates that pressure on China, Jordan and Sportswear will persist until 2028, while Wall Street accelerates its valuation cuts.
Nike won 712 million dollars (631 million euros) in its first fiscal quarter, 2% less, with sales of 11,213 million dollars, 4.3% lower, and will apply a new staff cut along with a geographical reorganization of its activity. The US giant of footwear and sportswear closes the months of June and August, the first tranche of its fiscal year 2027, with a net profit lower than that of the same period of the previous year. The turnover remained at 11…
After announcing the results of its operations in the first quarter of fiscal 2027, sports giant Nike announced a reduction in the workforce. At the same time, the company announced the forecast for the entire fiscal year, stating that... The article Nike plans to cut staff due to falling sales appeared first on Business and Finance.
The U.S. sportswear giant will launch a new restructuring as it anticipates a drop in sales of more than 7% in its 2027 fiscal year.
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