The athletic footwear and apparel maker's sales growth has stalled.Nike's (NKE 1.94%) stock sank 20% to a four-year low on June 28 after the company posted its latest earnings report. For the fourth quarter of fiscal 2024, which ended on May 31, the footwear and athletic apparel maker's revenue dipped 2% year over year (and stayed flat in currency neutral terms) to $12.6 billion and missed analysts' expectations by $250 million. Its diluted EPS rose 50% to $0.99 and cleared the consensus forecast by $0.15 p ...

NEW YORK, July 01, 2024 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of NIKE, Inc. (NYSE: NKE). Shareholders who purchased shares of NKE during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/nike-loss-submission-form/?id=88035&from=3 CLASS PERIOD: March 19, 2021 to March 21, 2024 A ...

sportpoint/iStock via Getty Images I last reported on Nike (NYSE:NKE) at the end of March. In that article, I rated the stock as a Hold. The basis for my rating was largely related to the share valuation, but I voiced additional concerns regarding the company’s long-term prospects. While there are many pros to consider when one evaluates Nike as a prospective investment, I questioned whether the company could continue its historic 10% sales growth, and I also contended that Nike’s moat is more vulnerabl ...

Nike is experiencing one of its worst moments as a publicly traded company.In this video, I will talk about Nike's (NKE -19.98%) recent earnings report, which saw the stock crash 20% on Friday, June 28.*Stock prices used were from the trading day of June 28, 2024. The video was published on June 30, 2024. ...

ozgurdonmaz Introduction Nike (NYSE:NKE) is a sports and leisurewear company that will be immediately familiar to readers, due to the ubiquity of its products across the globe. Today, I will argue, the stock is currently offering investors a once in a multiyear entry point. The stock has struggled over the last number of years as a weakening macroeconomic backdrop, particularly in China, has left investors wondering what the future growth prospects are for the firm. In addition, the firm has misfired on ...

Financial Performance - Nike reported fiscal fourth-quarter revenues of $12.6 billion, down 2% year-over-year, with Nike Direct revenues declining 8% to $5.1 billion [2] - The company ended fiscal 2024 with total revenues of $51.4 billion, a 1% increase from the previous year [2] - Net income rose 45% to $1.5 billion, attributed to budget cuts and a reduction in selling and administrative expenses by 7% [6] Market Challenges - Nike's first quarter fiscal 2025 revenues are expected to drop midsingle-digits, with the first half projected to decline high single-digits [2] - The company faces significant competition, particularly in the performance running category, with emerging brands like On Running and Hoka showing substantial growth [6] - Footwear sales, which account for 68% of revenues, fell 4% to $8.2 billion, with declines in key markets such as North America and Europe, Middle East, and Africa [7] Strategic Issues - A class-action securities fraud lawsuit has been filed against Nike, alleging the company misled investors regarding the success of its Consumer Direct strategy [11] - The lawsuit claims that Nike's direct-to-consumer strategy failed to generate sustainable revenue growth and that the company misrepresented its competitive advantages [12] - Nike's management is under scrutiny, with analysts expressing concerns about management credibility and potential leadership changes [3] Future Outlook - Despite current challenges, Nike aims to leverage the upcoming Paris Olympics to enhance brand visibility and storytelling [4] - The company is committed to innovation and plans to focus on putting sport back at the center of its operations [8] - Nike's leadership is optimistic about future growth, emphasizing a need to regain competitive edge and improve brand distinction in the market [15]

Thank you for your assistant Nike stock crashed almost 20% after the company reported solid results for Q4 FY 2024, but offered weaker than expected guidance: The world's leading sports apparel and footwear company said that it expects sales for FY 2025 to be down by about mid single digit. On a long-term basis, however, I think the sell-off creates an attractive opportunity for investors to buy a high quality franchise at bargain prices. In my view, Nike is poised to remain a winner in the sports indus ...

By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email.Access your favorite topics in a personalized feed while you're on the go. download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewNike is facing one of the most challenging periods in decades.In December, the company announced a cost-cut ...

NEW ORLEANS, June 28, 2024 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until August 19, 2024 to file lead plaintiff applications in a securities class action lawsuit against NIKE, Inc. (NYSE: NKE).  This action is pending in the United States District Court for the Southern District of New York.Get HelpNIKE investors should visit us at https://claimsfiler.com/cases/nyse-nke-1/ or call toll-free (844) 367-9658.  Lawyers at Kahn Swick & Foti, LLC are a ...

Key TakeawayFootwear giant Nike reported fourth-quarter earnings after the bell Thursday that missed analysts' revenue expectations.The sportswear giant saw its stock sink Friday as investors questioned the company's ability to tackle rising competition from On Holding and Hoka. But its shares weren't the only ones hurt. European sportswear companies like Adidas and Puma traded lower, while retail companies such as Foot Locker also took a hit. Sportswear giant Nike (NKE) reported earnings and guidance that ...