Nike will start selling some sneakers that are priced at under $100 after its dismal sales forecast sent shares plummeting, the sportwear giant said Friday.The company rolled the new plan to boost its bottom line after telling analysts that fiscal year 2025 sales will likely to decline during its quarterly earnings report Thursday.The forecast for a surprise drop in annual sales by mid-single digits amplified investor concerns about the pace of Nike’s efforts to stem market share losses to upstart brands su ...

Key TakeawaysNike shares plunged Friday, a day after the company reported disappointing fourth-quarter sales and guidance for fiscal 2025.Other athletic apparel and footwear stocks including Skechers, Lululemon, Under Armour, and Foot Locker also lost ground.Several analysts lowered their price targets for Nike stock following Thursday's earnings.The company is now looking ahead to the Olympic Games, which kick off next month, as an event that could help boost sales. After Nike (NKE) reported disappointing ...

Shares of Nike (NYSE:NKE) are plunging lower by 20% after the footwear and apparel giant reported a disappointing fiscal 2024 fourth-quarter earnings amid rising competition. NKE stock is set to have its largest one-day decline since 2001.During the quarter, revenue fell by 2% year-over-year to $12.6 billion, falling short of the analyst estimate for $12.86 billion. Of the revenue, $7.1 billion was attributed to wholesale, which rose by 5%. Direct-to-consumer (DTC) revenue fell by 8% to $5.1 billion.The com ...

"The FY25 guide (the 5th downward consensus revision in 6 quarters), pushes prospects for growth inflection further into 2025 (perhaps FY4Q or spring '25 at the earliest) asking investors to both underwrite success of not yet proven styles and look across an uncertain consumer discretionary backdrop into 2HCY24 until momentum could build again into 2HCY25," wrote Stifel analyst Jim Duffy. "Management credibility is severely challenged and potential for C-level regime change adds further uncertainty."As Wall ...

ToplineShares of Nike nosedived Friday, setting multiple dubious milestones as the sneaker and athletic wear company faces investor dissatisfaction.A Nike store in Shanghai.NurPhoto via Getty Images Key FactsNike’s stock was down 19.2% by 11 a.m. EDT, on pace for its steepest single-day drop since 2001 and the second-worst day in its 44-year history as a publicly traded company. The plummet sent Nike’s share price to its lowest price since March 2020; other than that month, when the global stock market bri ...

Growth remains an issue for this retail giant.Nike (NKE -19.18%) delivered an earnings beat for the quarter, but left investors waiting when it comes to revenue growth.The market appears to be growing impatient, with Nike shares down 18% as of 10 a.m. ET.Stuck at the starting lineNike is a transitional period. The longtime leader in athletic and athleisure apparel has been focused on streamlining operations and investing in future innovation to counter sluggish sales from many of its core brands.The latest ...

Nike Inc (NYSE:NKE) stock is brushing off a fiscal fourth-quarter earnings beat, after the apparel retailer also reported a revenue miss after yesterday's close. Plus. the company predicted a surprise slump in 2025 sales and issued a dismal fiscal first-quarter revenue outlook. In response, NKE is down 18.3% to trade at $77 at last check.In turn, Morgan Stanley, J.P. Morgan Securities, and Barclays downgraded the shares to "equal-weight," while Raymond James and Stifel lowered their ratings to "market perfo ...

NIKE TodayNKENIKE$77.99 -16.20 (-17.20%) 52-Week Range$77.11▼$123.39Dividend Yield1.90%P/E Ratio22.94Price Target$114.81Add to WatchlistNike NYSE: NKE analysts are slashing their price targets and sending the stock to the bargain basement. The company’s Q4 results were good enough, but the guidance brought fear into the broader consumer discretionary market. The company cited pronounced headwinds, a lack of innovation, and lost dominance in its once-core segment when it doubled its expected revenue decline ...

Robert Way Introduction & Investment Thesis Nike (NYSE:NYSE:NKE) reported its Q4 FY24 earnings on June 27, and the shares plunged over 10% as the retailer cut its full-year guidance and expects sales to decline in the mid-single digits in FY25. So far, the company has severely underperformed the S&P 500 and Nasdaq 100 YTD. During the earnings call, the management outlined that FY25 will be a year of transition, especially as the company tries to reposition itself with a renewed focus on innovation in Per ...

Loading...Loading...Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.JP Morgan analyst Matthew Boss downgraded NIKE, Inc. NKE from Overweight to Neutral, while cutting the price target from $116 to $83. Nike shares gained 0.1% to close at $94.19 on Thursday. See how other analysts view this stock.Argus Research analyst David Toung downgraded the rating for ...