Nike Stock Falls Nearly 10% as Sales Outlook Weakens, Layoffs Loom
Oct 2 · Kelvin Munene · analyticsinsight · News
Nike shares fell nearly 10% in after-hours trading on Thursday, October 1, after the sportswear company forecast a further decline in annual sales and announced more job cuts. The company introduced its Pace restructuring program alongside fiscal first-quarter results, setting a target of USD 2.5 billion in cumulative…