Nike expects sales will plunge in current quarter as it faces tariffs, sliding consumer confidence
Publishing timestamp: 2025-03-20 16:00:01
Summary
Nike expects sales decline in current quarter to be worse than expected due to tariffs, sliding consumer confidence, and slow turnaround. Company's gross margin expected to fall as it liquidates excess inventory. CEO acknowledges progress but not satisfied with overall results. Challenges include new tariffs, weak consumer sentiment, and competition. Nike focusing on innovation and partnerships to boost revenue and market share.
Sentiment: NEGATIVE
Keywords: business, business news, nike inc, breaking news: earnings, donald trump, earnings, dividends, retail industry, elliott hill, china, breaking news: business, donald j. trump,
Source: https://www.cnbc.com/2025/03/20/nike-nke-q3-2025-earnings.html