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DeepNewz, mobile.
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Nike is facing challenges as it experiences a rare sales drop and market share decline, leading to concerns over its relevance. Despite holiday sales exceeding estimates, the company is cutting back on classic shoes and transitioning to newer styles, impacting revenue. Investors are cautious due to a subdued global macroeconomic outlook and the company's forecast of a sales squeeze during a shift in sneaker styles.
Nike Warns Of Sales Squeeze During Sneaker Shift https://t.co/LTMfwIgsnK
⚠️ NIKE SHARES SKID AS SWITCH TO NEWER STYLES TO SQUEEZE REVENUE Full Story → https://t.co/GXEtPsiMrC Nike shares fell more than 6% before the bell on Friday after the Air Jordan maker forecast a drop in sales in its first half as it replaces older styles with trendier… https://t.co/bcaCCKBida
$NKE “subdued” global macroeconomic outlook. Pre-market $94.22 −6.60 https://t.co/IaGyzXp2KO