) stock fell as much as 11% Thursday in after-hours trading after the retailer said it expects revenue to decline more than previously thought in the coming year.
"Fiscal will be a transition year for our business," Nike CEO John Donahoe said during the company's earnings call.The company has been trying to reignite sales growth in what has been a lackluster year for the stock so far. Morningstar equity analyst David Swartz told Yahoo Finance the sales number was "pretty weak" and was the main concern from the release.
-Levi Strauss fell short of market expectations for second-quarter revenue on Wednesday, hurt by choppy wholesale demand in the United States. Shares of the company were down 12% in extended trading after Levi also maintained its annual profit and revenue forecast due to an adverse foreign exchange impact, as well as steeper marketing spend heading into the back-to-school and festive holiday seasons.