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Nike shares fell 4% in premarket trading on Wednesday after the sportswear giant's latest quarterly results failed to convince investors that its turnaround under Chief Executive Officer Elliott Hill is gathering pace. Although Nike topped Wall Street expectations for both earnings and revenue, a cautious outlook for the coming quarters, persistent weakness in China and continued uncertainty ar...
Nike Inc (NYSE:NKE) shares fell in after-hours trading as the latest results showed the sportswear giant is still struggling to turn better products into stronger sales. Fourth-quarter revenue fell 1% to $11 billion, or 4% on a currency-neutral basis, with weakness in Greater China and Europe partly offset by growth in North America.
July 1 (Reuters) - Nike (NKE.N) shares slipped nearly 4% in premarket trading on Wednesday, as investors fretted over the slower-than-expected turnaround at the world's largest sportswear maker, nearly two years after Elliott Hill took the helm to revive growth.
JD Sports Fashion PLC (LSE:JD., OTC:JDSPY) shares fell on Wednesday after results from major partner Nike Inc (NYSE:NKE) pointed to weaker sales ahead and continued pressure on consumer demand.
The sneakers and apparel company said the results were in line with its expectations, despite facing what it called an increasingly challenging operating environment where sell-through remains under pressure.
Nike's profit and gross margins were buoyed by a tariff refund.