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NKE - Nike cuts revenue growth forecasts as macro headwinds to have 'pronounced' impact
Nike Inc.
2024-06-27 18:37:39 ET
Faced with the challenge of “navigating macro headwinds that will have a pronounced impact on fiscal 2025” and continued softness in China, Nike ( NYSE: NKE ) now expects FY25 sales for the sportswear giant to be down mid-single-digits with sales in the first half of the year down by high-single-digits. The company initially guided for a low-single-digit decline in sales for 2025. Gross margin in FY25 is expected to expand by 10-30 basis points....