Nike's Q4 revenue fell 1% to $11 billion, the lowest since early 2022, with declines in Greater China and Europe offset by North American growth. Wholesale sales rose 4%, but direct sales dropped 7%, including a 12% fall in digital sales and a 7% decline in Nike-owned stores. Net income was $1.07 billion, boosted by a $986 million tariff refund, while full-year profit fell 3% to $3.1 billion. Nike expects revenue to decline in the next two quarters and earnings to remain flat, reflecting ongoing volatility and competitive pressures as it works on a turnaround under CEO Elliott Hill. Analysts see some signs of stabilization but caution that Nike faces a tough path to regain market dominance amid strong competition and weak consumer spending.
The FTSE 100 fell by 54 points to 10,443 amid mixed UK manufacturing data and flat house prices. Oil prices fluctuated due to ongoing indirect US-Iran talks in Doha, causing market uncertainty. US tech stocks, especially chipmakers like Micron and Sa...
US stock futures fell on July 1 following Wall Street's strongest quarter since 2020, with the Nasdaq down 0.4% and Dow Jones and S&P 500 futures off 0.2%. The S&P 500 gained 15.2% over the quarter, driven by a rally in chip stocks. Market caution in...
Chinese internet stocks, including the KraneShares CSI China Internet ETF (KWEB), have been in a prolonged bear market, down over 40% from their peak amid concerns about AI valuations and trade tensions. However, recent data showing growth in China's...
Nike's stock has fallen about 75% from its pandemic peak and dropped 9% after reporting better-than-expected Q3 earnings. This decline reflects strong negative investor sentiment, suggesting that positive financial results alone are not enough to rev...
Nike reported a mixed fourth quarter with a slight revenue increase in North America and a return to growth in wholesale, but overall consolidated revenue fell by 1% due to a 12% sales decline in China. Earnings per share beat expectations due to one...
