Nike's Stock Plummets 14% in Premarket Trading as Revenue Outlook Dims for 2025

  • 3 months ago
Nike's stock fell almost 14% in early pre-market trading after the company said it expects revenue to decline more than expected in 2025, with an expected 10% decline in the first quarter. Nike reported fiscal 2024 fourth-quarter revenue fell 2%, below analysts' estimates, with direct-to-consumer sales down 8%. For fiscal 2025, Nike expects overall sales to fall mid-single digits, reflecting challenges from the fourth quarter. Nike CEO said fiscal 2025 "will be a transition year for our business." The company is trying to reignite sales growth after a lackluster year for the stock.
Transcript
00:00It's Benzinga and here's what's on the block.
00:02Nike's stock fell almost 14% in early pre-market trading after the company said it expects
00:07revenue to decline more than previously thought in 2025, with an expected 10% decline in the
00:13first quarter.
00:14Nike reported that fiscal 2024 fourth quarter revenue fell 2% below analysts' estimates,
00:19with direct-to-consumer sales down 8%.
00:22For fiscal year 2025, Nike expects overall sales to fall mid-single digits, reflecting
00:27challenges continuing from the fourth quarter.
00:29Nike's CEO said fiscal year 2025 will be a transition year for our business.
00:35The company is trying to reignite sales growth after a lackluster year for the stock.

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