Nike shares lower, warns on revenue amid competition squeeze
Nike shares indicated lower after the group warned its revenue are set to shrink as it faces off newer brands. IGTV's Angeline Ong looks at the numbers to find out how rising competition is keeping Nike on the slow lane.
(AI Video Summary)
Nike shares drop
Nike shares have fallen before the market even opened because the company announced that its revenues will be lower in the first half of 2025. They expect a decrease of a few percent. However, it's not all bad news for Nike, as their earnings per share were higher than expected at 77 cents, compared to the anticipated 74 cents. Additionally, their revenues were slightly higher than predicted at $12.43 billion instead of the projected $12.28 billion.
Nike's competitiveness
To try and stay competitive in a crowded market, Nike has been trying to replace their old sneaker styles with trendier ones. However, this strategy hasn't made a big impact on their stock prices, as they're currently slightly down. If you want to see how the market is reacting to this news, it would be a good idea to look at the 15-minute chart on the tastylive platform. This chart shows how the stock price changes over a short period of time.
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