Nike's stock price tanks as sports giant joins growing list of corporate casualties in Trump's tariff battle [Yahoo! Finance]
Bank of America Corporation (BAC)
Last bank of america corporation earnings: 4/15 06:45 am
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Source: Yahoo! Finance
Despite the downturn, new CEO Elliot Hill remains confident in his 'Win Now' strategy, focusing on brand revitalization, digital expansion, and grassroots athlete engagement to drive long-term growth. Nike's shares sank 7% today after saying it expects revenues to drop by double digit percentages given tough trading conditions. On an earnings call yesterday, the sportswear giant's CFO Matthew Friend outlined that revenues next quarter will be down in the mid-teens courtesy, in part, to "unfavorable shipment timing in North America as well as two points of negative impact from foreign exchange headwinds." But like many other businesses, Nike is also eyeing trade policy outside the White House, which could impact its bottom line moving forward.
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