Nike stock sinks as revenue misses estimates - Yahoo Finance — SkimNews
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- Nike shares dropped after the company posted quarterly revenue that missed analyst estimates, per Yahoo Finance.
- Nike announced layoffs as part of a new corporate restructuring, with CNBC and OregonLive reporting the stock fell to its lowest level in 13 years on the news.
Why it matters: A 13-year stock low paired with a simultaneous restructuring-and-layoffs announcement signals Nike is in a structural slump: cost action is layered on top of a revenue miss, not used as a stand-in for one, raising the stakes for the turnaround management is now formally launching.
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