Nike Projects Further Sales Declines Amid Ongoing Struggles
Nike (NKE) anticipates further sales declines ahead, signaling that a turnaround may take longer to materialize. The company has faced significant challenges in the Chinese market and with its core sneaker business, contributing to its stock's underperformance within the S&P 500 this year.
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09:34:58 PM UTC
SquawkNews
Nike says one of its main priorities in its turnaround is its sportswear business, which saw sales decline by a low-double-digit percentage in the most recent quarter. The decline in sportswear sales reflected a combination of deliberate actions by management, along with product underperformance an…