Nike Plummets to Lowest in Decade as Turnaround Sputters

https://www.youtube.com/watch?v=iQkd9IuybEk

Nike shares fell to a decade low after the company gave a disappointing outlook that overshadowed better-than-expected quarterly results. The latest setback shows that CEO Elliott Hill’s turnaround is taking longer than investors hoped, especially with weakness in China, tariff pressure, and uneven brand momentum.

What happened

Nike said it expects revenue to decline 2% to 4% in the next quarter, which was worse than Wall Street expected. That guidance helped drive the stock down sharply, with reports saying it hovered near an 11-year low.

Why the turnaround is sputtering

The company is still dealing with soft demand in Greater China and pressure from higher tariffs, both of which are hurting its outlook. Even though North America has shown some improvement, the gains are not enough to offset the drag from other regions.