Nike shares fell 3.5% in premarket trading on Wednesday after its latest quarterly results failed to revive investor hopes of a swift turnaround under CEO Elliot Hill.
China Woes Continue
A cautious sales outlook and weak China demand overshadowed a modest fourth-quarter revenue beat, which also dragged down shares of European peers Adidas and Puma, dropping more than 1% each.
Nike has been struggling to regain momentum after losing market share to rivals, as well as rebuild wholesale relationships, and clear older lifestyle inventory. The stock has already fallen about 35% this year.
The sportswear giant’s fourth-quarter revenue fell 1%, with double-digit sales declines in China, which did little to reassure investors.
Nike also projected a further revenue drop through the first half of fiscal 2027 as it navigates tariff pressures, geopolitical uncertainty and cautious consumer spending.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
