Nike shares fall sharply on weak revenue forecast and job cuts

Summarised from 2 outlets · Updated 2 Oct, 12:01 · Archive

Nike shares have plummeted after the company warned of declining revenue and announced plans to lay off staff.

Nike's shares continued their decline for a second consecutive day after the company reported falling revenue and announced layoff plans. The American sportswear firm warned of a revenue decline over the coming year, prompting investors to sell shares in premarket trading.

Nike also faces removal from the S&P 100 index, according to reports. The company's statement on its mixed first fiscal quarter performance, combined with the revenue warning and job cut announcements, has compounded pressure on the stock.

How it is being reported

• Nike: Shares fall, S&P 100 ejection and Mbappe outCity AM · 2 Oct, 11:39
• Nike shares plummet 10% after weak revenue outlook and layoff plans underwayCNBC · 2 Oct, 11:11

In this story: Nike · S&P 100

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem