Nike shocks investors: China collapses and forecast causes stock to plummet

Nike’s stock came under significant pressure after hours, losing around 9% after the company presented a weak outlook despite solid quarterly numbers. The particularly burdensome forecast indicated that revenues in the current quarter are expected to decline by 2% to 4%, whereas analysts had previously anticipated growth. Nike is also anticipating a slight revenue decline for the entire year, increasing uncertainty about the speed of recovery. China as a central burden factor A key obstacle remains the important Chinese market. Nike expects...