Nike expects sales to fall in the upcoming quarters despite a cost-cutting initiative aiming to save $2 billion over three years for future growth and innovation.
Challenges in China sales, digital platform, and subdued wholesale orders lead to a projected mid-single digits sales decline for the 2025 fiscal year, shocking investors.
Nike's CEO anticipates 2025 as a transition year, while the company's lifestyle business is causing concerns despite growth in the performance segment.
Investors react negatively to the lackluster Q4 results, with shares dropping 20%, highlighting the urgency for Nike to address and improve its current challenges.
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