Nike results beat low expectations; CEO warns turnaround will be a slog

Quick Summary:

Revenue also fell less than expected as newer versions of performance and running shoes attracted shoppers.

Analysts had expected a 9.41 per cent fall to US$12.13 billion, according to estimates compiled by LSEG.

Foot Locker, for example, continued to rely heavily on Nike in 2022 and 2023, buying 65 per cent of its sports apparel from the company.

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Article Details

Category: EconomyBusiness

Markets: SingaporeJordan

Topics: Running Expected Cent Estimates Shares Revenue Hill Nike Shoes Fell Nike’s

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-20 @ 08:30:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 565 words

Reading Time: 4 minutes read

Sentences: 23 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Straits Times

News ID: 24562834

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