News Formal

Nike Faces Earnings Slump as It Restructures Product Lines

  • 📰 NBCLA
  • ⏱ Reading Time:
  • 35 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 34%
  • Publisher: 59%

Business News

Nike,Earnings,Revenue

Analysts predict a significant drop in Nike's earnings and revenue for the upcoming quarter. The company is implementing a strategy to revamp its product assortment by reducing supply for popular franchises like Air Force 1s, Dunks, and Air Jordan 1s. This move aims to recapture the exclusivity and desirability of these styles.

Analysts are expecting earnings per share of 64 cents on revenue of $12.18 billion, according to LSEG.>Sign up for NBC LA's News Headlines newsletter.

The dismal outlook comes as Nike works to turn around its business and fix its product assortment by pulling back on three of its key franchises: Air Force 1s, Dunks and Air Jordan 1s. Those stylesunder former CEO John Donahoe, but then became so commonplace that they lost their cool factor. Now Nike is trying to cut back supply.

Foot Locker's dismal quarter was a warning sign for Nike and a clue that investors may need to be patient as they wait for the sneaker giant to turn its business around. When Nike reports earnings Thursday, Hill will have been in the new role for just over two months, and it's going to take time to see the effects of strategy changes.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 319. in İE
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nike set to beat earnings, fall short on guidance, Morgan Stanley saysNike set to beat earnings, fall short on guidance, Morgan Stanley says
Source: Investingcom - 🏆 450. / 53 Read more »

Cramer's week ahead: Fed decision and earnings from General Mills, Darden and NikeCNBC’s Jim Cramer walked investors through next week’s Federal Reserve meeting and big earnings from General Mills, Darden Restaurants, Nike and…
Source: nbcchicago - 🏆 545. / 51 Read more »

Adobe Earnings Breakdown: Adobe Surpasses Estimates but Faces ChallengesStocks Analysis by Michael Gouvalaris covering: S&P 500, Adobe Systems Incorporated. Read Michael Gouvalaris's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »