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 Nieuws

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.

Wij hebben dit nieuws samengevat zodat u het snel kunt lezen. Bent u geïnteresseerd in het nieuws, dan kunt u hier de volledige tekst lezen. Lees verder:

 /  🏆 319. in NL
 

Bedankt voor uw reactie. Uw reactie wordt na beoordeling gepubliceerd.

Nederland Laatste Nieuws, Nederland Headlines

Similar News:Je kunt ook nieuwsberichten lezen die vergelijkbaar zijn met deze die we uit andere nieuwsbronnen hebben verzameld.

Nike set to beat earnings, fall short on guidance, Morgan Stanley saysNike set to beat earnings, fall short on guidance, Morgan Stanley says
Bron: Investingcom - 🏆 450. / 53 Lees verder »

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…
Bron: nbcchicago - 🏆 545. / 51 Lees verder »

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
Bron: Investingcom - 🏆 450. / 53 Lees verder »