Tag: $Nike

Nike’s shares plummeted in premarket trading Friday, falling for a second straight day after it reported falling revenue and plans to lay off staff in 2027. The sportswear giant said Thursday that its fiscal first-quarter revenues were down 4% to $11.2 billion, citing declines in Greater China, which was partially offset by growth in its North America segment.

Nike on Tuesday posted quarterly earnings and revenue that topped Wall Street expectations, despite another sales decline in its key China market.

Nike’s (NKE)  efforts to steady its business face a fresh setback, with executives cautioning that unrest in the Middle East could further complicate the turnaround, while the sportswear ​giant still struggles to regain traction in China.

Nike shares ticked up 2% in premarket trading on Wednesday after Apple CEO Tim Cook bought nearly $3 million worth of the sportswear maker’s stock.

Nike has reported weakening sales in China in quarterly results that unnerved investors as the company attempts to pull out of a slump.

Nike on Tuesday posted surprise sales growth in its fiscal first quarter but said it still has work ahead to execute its turnaround as it warned it expects sales to fall again during most of the holiday shopping season.

Nike’s fiscal fourth quarter was a rough one, albeit better than feared. Sales slid more than 10% from a year ago and the company warned that tariffs would increase operating costs by more than $1 billion in the current fiscal year.

Nike (NKE.N), is planning to raise prices of some products from next week and will sell items on Amazon (AMZN.O), after six years, the company said on Wednesday.

Prices of Nike Jordan and Adidas Samba sneakers are likely to rise in the U.S. after President Donald Trump imposed a raft of new tariffs on Vietnam, China, and Indonesia, key manufacturers of sportswear and apparel.

Nike on Thursday forecast a steeper drop in fourth-quarter revenue than analysts had expected, striking a cautious tone as it works to rekindle interest among consumers who have defected to trendier rivals.

Foot Locker Inc. is planning to expand its Home Court basketball serious developed with Nike Inc. in stores worldwide, part of an effort for the longtime partners to mend their frayed relationship. 

Nike will be the exclusive uniform and apparel provider for the National Basketball Association and Women’s National Basketball Association for another 12 years after they renewed their partnership with the sneaker giant, the leagues announced Monday.

Nike on Tuesday said it was withdrawing its full-year guidance and postponing its investor day as it gears up for a new CEO to take the helm.

Nike on Thursday announced that its CEO, John Donahoe, is stepping down and company veteran Elliott Hill is coming out of retirement to take the helm of the sneaker giant.

Nike topped fiscal fourth-quarter earnings estimates, but sales and first-quarter guidance fell short amid softer consumer demand in North America and China.

Nike reported holiday sales that beat expectations, but its growth in China continued to slow.

Nike lowered its revenue outlook and said it plans to cut $2bn in costs over the next three years as the world’s largest sportswear maker warned of softening consumer demand, particularly in China and Europe.

Nike reported fiscal first-quarter earnings that fell short of Wall Street’s revenue expectations for the first time in two years.

Nike beat revenue expectations but the stock fell in after-hours trading amid concerns that North American consumers are poised to slow spending in the coming months.