Earnings

Nike shares fall as supply chain havoc leads retailer to slash revenue forecast

In this article

Pedestrians walk past the American multinational sport clothing brand, Nike store and its logo seen in Hong Kong.
Budrul Chukrut | LightRocket | Getty Images

Nike shares dropped in extended trading Thursday after the sneaker giant reported quarterly revenue that missed analysts’ expectations.

Its stock was recently down around 3%.

Here’s how Nike did during its fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

  • Earnings per share: $1.16 vs. $1.11 expected
  • Revenue: $12.25 billion vs. $12.5 billion expected

Nike shares are up about 13% year to date, as of Thursday’s market close, but down about 9% from an all-time high reached in early August. The company has a market cap of $252.6 billion.

This story is developing. Please check back for updates.

Find the full press release from Nike here.

Products You May Like

Articles You May Like

Blistering AI demand drives a beat and raise at our other chipmaker Broadcom
Is it a great wealth transfer or retirement savings crisis? It can be both, expert says
Stellantis aims to correct ‘arrogant’ mistakes in U.S. market, CEO says
Homebuyers take on ‘a lot more than a mortgage payment,’ expert says — ‘hidden costs’ average $18,000 a year
Broadcom beats earnings estimates, announces 10-for-1 stock split

Leave a Reply

Your email address will not be published. Required fields are marked *