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Stock impact report

Nike Projects a Decline in Sales. Its Stock Is Getting Hammered. [Yahoo! Finance]

Nike, Inc. (NKE) 
Last nike, inc. earnings: 3/24 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.nike.com/home/default.aspx
Company Research Source: Yahoo! Finance
CEO Elliott Hill told investors Nike's turnaround is taking longer than expected. Nike's stock is tumbling on signs of stumbling blocks in the company's turnaround. Shares of Nike ( NKE ) were recently down 9% in extended trading Tuesday after the athletic apparel giant told investors it expects revenue to decline 2% to 4% in the current quarter, when analysts were calling for growth. CEO Elliott Hill said during the company earnings call that its turnaround is "taking longer than I'd like," amid pressure from higher tariffs and headwinds in China that offset gains in North America. Why This Matters to Investors Nike's weak outlook deals another blow to investor confidence, after what's already been a rough year for the stock. CFO Matt Friend said Nike expects sales in China to fall 20% in its fiscal fourth quarter, after registering a 10% decline in the third quarter. Hill said that going forward, Nike plans to take a more localized approach to its operations in China, a Show less Read more
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