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DeepNewz, mobile.
People-sourced. AI-powered. Unbiased News.
Sporting goods giants Nike and Adidas are facing challenges as Nike's sales drop, leading to concerns over market share and investor confidence. Nike's reliance on iconic basketball shoes is questioned as newer brands gain traction. Despite beating estimates in holiday sales, weak guidance and slowing North American growth impact Nike's stock performance.
This is what happens when you raise product prices out of reach of overstretched consumers who already maxed out credit cards. Both $NKE & $LULU should be -20% https://t.co/u2LFdROwaJ
Weak guidance and slowing North American growth are weighing on $LULU shares in the extended session. @KARInvest's Julie Biel and @timseymour trade the earnings print. https://t.co/aQHAFEB0KA
Nike shares reversing course and falling into the red as investors digest weak guidance on the conference call. @timseymour and @GuyAdami react. https://t.co/FpLUHpeqGG