Nike warns of guidance cut as it posts slowest non-pandemic sales gain in 14 years

Nike warned that it would cut its fiscal 2025 guidance as it continues to face challenges in its business.

Last quarter, the company said that it expects revenue and earnings to grow in fiscal 2025 but didn't say by how much. It said that it's expecting revenue in the first half of fiscal 2025 to be down in the low single digits, reflecting"a subdued macro outlook around the world."For the fiscal fourth quarter, the company handily beat earnings estimates as its cost-cutting efforts continue to bear fruit, but Nike fell short on revenue.

Sales in North America, its largest market, came in at $5.28 billion, below StreetAccount expectations of $5.45 billion. The strategy can be more profitable and gives companies better control over their brands and customer data, but it can also create logistical headaches and come with unexpected — and costly — hiccups.

As the retailer churned out more and more old favorites, such as the Air Force 1, upstarts like On Running and Hoka wowed runners with brand new designs — and snatched them up as customers.

Source: News Formal (newsformal.com)

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