Nike Shares Drop 10% Amid China Sales Slump and Tariff Challenges
Originally Published 25 days ago — by Reuters
Nike's shares fell 10% as it reported a second consecutive quarter of declining gross margins due to poor sales in China, high tariffs costing $1.5 billion, and strategic shifts towards core sports and retail partnerships. Despite beating revenue estimates with $12.43 billion, net income dropped 32%, and margins are expected to decline further, highlighting ongoing challenges in its turnaround efforts.