Nike stock dives after sneaker giant scraps investor day amid CEO shakeup [Fortune]
Foot Locker, Inc. (FL)
Last foot locker, inc. earnings: 2/28 06:45 am
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Source: Fortune
Shares sank roughly 5% Wednesday morning, however, after the company withdrew its full-year guidance and postponed its investor day indefinitely during Nike's latest quarterly earnings call on Tuesday. Analysts appear largely confident in Hill's ability to spark a revival at Nike, which has lost some of its swagger amid toughening competition and flagging sales. Short-term, however, many also still see a stock in limbo. “No CEO, no Guidance, no Investor Day. Nike is deep in the abyss of the turnaround,” is how Bernstein analysts Aneesha Sherman and Jessica Tian opened a note to investors. Nike slightly beat earnings expectations for the latest quarter even as sales declined 10% year-over-year, in line with Wall Street's expectations. The company did cut revenue guidance for next quarter by 8-10%, however, which was slightly worse than expected. Sherman and Tian said the forecast cut was the right move to reset expectations and give Hill some breathing room as he settles into t
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FL
Earnings
- 8/28/24 - Beat
FL
Sec Filings
- 11/18/24 - Form 4
- 11/12/24 - Form SC
- 11/8/24 - Form SC
- FL's page on the SEC website