Nike’s China Reset Will Take 4 Quarters — Wall Street Is Done Waiting
Nike's stock has fallen 14.44% after the company reported its fiscal Q3 results, with analysts downgrading the stock due to a slower-than-expected recovery in China. The company's guidance suggests that sales will remain negative into Q3, with EPS expected to be roughly flat for the next nine months.
Nike's stock has taken a hit after the company reported its fiscal Q3 results. The stock fell 14.44% to around $45.22. Analysts have downgraded the stock, citing a slower recovery in China. Nike's guidance suggests sales will remain negative into Q3, with EPS expected to be flat for the next nine months. The company's China revenues are expected to decline 20% in Q4. Local brands are gaining share, and cooling consumer spending is adding pressure. Nike's CEO is continuing the 'Win Now' initiative, with restructuring ongoing through year-end.
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