Tag: $Nike

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.