Nike posts quarterly sales that miss Wall Street estimates [BNN Bloomberg (Canada)]
On Holding AG (ONON)
Company Research
Source: BNN Bloomberg
Revenue fell 1.7 per cent to US$12.6 billion for the fiscal fourth quarter ended May 31, missing the average of analyst estimates. Nike shares fell 2.4 per cent at 4:17 p.m. in extended New York trading. The stock has declined 13 per cent this year through Thursday's close. The results show the weakness Nike has reported in recent quarters is persisting. Nike Chief Executive Officer John Donahoe is cutting $2 billion in costs and slashing 2 per cent of the workforce, with layoffs recently hitting the company's European headquarters near Amsterdam and its Boston-based Converse brand. Amid a wave of competition from upstarts such as On Holding AG and Deckers Outdoor Corp.'s Hoka running shoes, Donahoe has said he'll prioritize sports, new products and wholesale partners that had largely recieved less attention from the company as it sought to boost its own stores and websites. Related
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ONON
News
- Nike stocks see their biggest drop since 2001 amid weak fiscal outlook [Los Angeles Times (CA)]Los Angeles Times
- Nike's Sales Warning Leads Morgan Stanley, JPMorgan and More to Pause Buy Calls on Stock [BNN Bloomberg (Canada)]BNN Bloomberg
- On Holding (ONON) Stock Dips While Market Gains: Key Facts [Yahoo! Finance]Yahoo! Finance
- 4 Reasons to Buy Nike Stock Like There's No Tomorrow [Yahoo! Finance]Yahoo! Finance
- On Holding AG (NYSE: ONON) had its "overweight" rating re-affirmed by analysts at Morgan Stanley. They now have a $40.00 price target on the stock.MarketBeat
ONON
Earnings
- 5/14/24 - Beat
ONON
Sec Filings
- 6/7/24 - Form 144
- 6/7/24 - Form 144/A
- 6/6/24 - Form 144/A
- ONON's page on the SEC website