Nike's shares fell and its sales outlook was lowered, signaling potential challenges in China. The company announced layoffs of over 1,000 during the holidays and over 7,000 over the next couple of years. The warnings on China's economy may have broader implications for companies doing business there.
"@Nike has sounded the alarm on #China's economy, signaling that weak consumer demand may continue: "This new outlook reflects increased macro headwinds, partic in China" Macro headwinds have not changed, previous #Nike guidance was simply too bullish https://t.co/AXW7fxB2S0
$NKE announcing will lay off over 1,000 during the holidays and over 7,000 over next couple years
LISTEN NOW: One member of the investment committee is ringing the register on Nike after the company slashed its sales outlook. Listen and follow the @HalftimeReport podcast here: https://t.co/I1PNHn6kQl https://t.co/7DiNtCojbi
Nike's warnings on China should scare other companies that do business there https://t.co/UcUmNXyYNv
$NKE shares tumbled after the company released its earnings and lowered its sales outlook. @CarlQuintanilla, @ScottWapnerCNBC & @LesliePicker discuss the news and outlook for the company. “I feel like this stock is so emblematic of the moment of where we are.” https://t.co/F1tvgAG6pt
Nike’s Poor Outlook Signals Big Problem for Sneakers and Consumers https://t.co/qQEJSCNzNv