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Nike Says Business Will Get Worse Before It Gets Better. The Stock Is Sliding
With Friday’s drop, Nike shares have lost close to half their value since the year began.Credit: Alex Tai / SOPA Images / LightRocket / Getty ImagesKey TakeawaysNike shares fell Friday after the sports apparel retailer projected a bigger slide in sales than analysts anticipated.Its quarterly revenue missed estimates, as sales slid in China and the company’s Europe, Middle East and Africa segment.Nike said its sales are going to get worse this year. Investors aren’t pleased.Shares of Nike (NKE) dropped 4% Friday, a day after the sports apparel maker forecast a bigger decline in sales than Wall…
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