Nike tumbles as upstarts grab market share [Yahoo! Finance]
Foot Locker, Inc. (FL)
Last foot locker, inc. earnings: 2/28 06:45 am
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Source: Yahoo! Finance
The news sent Nike shares plunging more than 12% in after hours trading, which could mean a loss of $15bn in market value if the losses hold on Friday. The world's largest sportswear company also told investors it is facing weakening demand in international markets, including in China. But Nike is optimistic that new products and a marketing campaign at the upcoming Olympic Games in Paris will help the company regain momentum with consumers. "The Paris Olympics offers us a pinnacle moment to communicate our vision of sport to the world," CEO John Donahoe said on the earnings call. The company also lowered its outlook for the 2025 fiscal year. It said direct-to-consumer business declined 8%, as some customers went for more trendy upstart brands. "There's a sense that Nike just hasn't innovated enough, it hasn't marketed enough, it hasn't told enough stories around its products," the Managing director of GlobalData Retail, Neil Saunders, told the BBC. The sportswear giant
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FL
News
- Nike stock plummets nearly 20% in 1 day [Yahoo! Finance]Yahoo! Finance
- Nike Tumbles After Warning That Sales Slump Is Getting Worse [Yahoo! Finance Canada]Yahoo! Finance Canada
- Nike Tumbles After Warning That Sales Slump Is Getting Worse [Yahoo! Finance]Yahoo! Finance
- We're throwing in the towel on a retail stock taking too long to turn around [MSNBC.com]MSNBC.com
- Have $1,000? 2 Glorious Growth Stocks to Buy Right Now [Yahoo! Finance]Yahoo! Finance
FL
Earnings
- 5/30/24 - Beat
FL
Sec Filings
- 6/26/24 - Form 11-K
- 6/26/24 - Form 11-K
- 6/25/24 - Form 8-K
- FL's page on the SEC website