Nike needs to focus on innovation to mount turnaround: Analyst

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Shares of Nike (NKE) are slipping after the company reported earnings following yesterday's market close. The footwear and apparel company slashed its full-year guidance, expecting sales to drop 10% during its current quarter and warning of soft sales in China. S&P Global Ratings consumer products director Amanda O’Neill discusses the results in more detail. O’Neill notes that Nike's revenue declines are surprising. She adds that the company encountered "many challenges," from a weaker macro picture to lost traction in digital strategy, forcing them "to shift and move more into the wholesale channel." From a credit perspective, the trend is concerning if it continues into 2026, O'Neill says. To mount a turnaround, O'Neill believes Nike will need to focus on innovation and hone in on key consumer trends, such as athleisure and sport. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company

Published 2024-06-28 · Watch on YouTube ↗
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