Nike shares fall as supply chain havoc leads retailer to slash revenue forecast

Products You May Like

In this article

Pedestrians walk past the American multinational sport clothing brand, Nike store and its logo seen in Hong Kong.
Budrul Chukrut | LightRocket | Getty Images

Nike shares dropped in extended trading Thursday after the sneaker giant reported quarterly revenue that missed analysts’ expectations.

Its stock was recently down around 3%.

Here’s how Nike did during its fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.16 vs. $1.11 expected
  • Revenue: $12.25 billion vs. $12.5 billion expected

Nike shares are up about 13% year to date, as of Thursday’s market close, but down about 9% from an all-time high reached in early August. The company has a market cap of $252.6 billion.

This story is developing. Please check back for updates.

Find the full press release from Nike here.

Products You May Like

Articles You May Like

General Motors is set to report earnings before the bell
Op-ed: Here’s how Taylor Swift’s lyrics can inspire a better budget
Korean Air orders at least 40 Boeing wide-body planes in a vote of confidence for the manufacturer
Activist Elliott reportedly has a significant stake in Starbucks, in talks with management
A Silicon Valley executive had $400,000 stolen by cybercriminals while buying a home. Here’s her warning

Leave a Reply

Your email address will not be published. Required fields are marked *