Stock Track | Nike Stock Plunges as Sales Drop Amid Fierce Competition and Oversupply of Classic Sneakers

Stock Track10-02

Nike Inc. reported disappointing fiscal first-quarter results, with revenue declining 10% year-over-year to $11.59 billion, missing analyst estimates of $11.65 billion. The company's earnings of $0.70 per share beat expectations of $0.52, but the underlying sales figures painted a grim picture for the athletic apparel giant.

The sportswear company's struggles were evident across most of its major markets. Sales in North America, Nike's largest region, fell 11%, driven by a 14% drop in footwear sales. The Europe, Middle East & Africa region saw a 13% decline in revenue, while Greater China sales dropped 4%. The Asia Pacific & Latin America region was also down 7%.

Nike attributed the sales slump partly to a reduction in the number of limited-edition sneaker releases, particularly for its iconic Air Force 1, Air Jordan 1, and Dunk models. The company had oversaturated the market with too many of these popular shoes, diluting their appeal and exclusivity. As a result, Nike is now aggressively reducing the supply of these franchises to revive consumer interest.

The company's Jordan brand, known for its premium sneakers, had been a key growth driver, generating around $7 billion in sales in the previous fiscal year. However, competition from newer brands like Hoka, On, and New Balance has intensified, eroding Nike's market share in both the running and lifestyle categories.

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Cosmograph
10-02
Cosmograph
biggest drop in home market.. So much for supporting their own. China did a better job than home market

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The Europe, Middle East & Africa region saw a 13% decline in revenue, while Greater China sales dropped 4%. The Asia Pacific & Latin America region was also down 7%.</p>\n\n<p>Nike attributed the sales slump partly to a reduction in the number of limited-edition sneaker releases, particularly for its iconic Air Force 1, Air Jordan 1, and Dunk models. The company had oversaturated the market with too many of these popular shoes, diluting their appeal and exclusivity. As a result, Nike is now aggressively reducing the supply of these franchises to revive consumer interest.</p>\n\n<p>The company's Jordan brand, known for its premium sneakers, had been a key growth driver, generating around $7 billion in sales in the previous fiscal year. However, competition from newer brands like Hoka, On, and New Balance has intensified, eroding Nike's market share in both the running and lifestyle categories.</p>","source":"ai_movement_en","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Nike Stock Plunges as Sales Drop Amid Fierce Competition and Oversupply of Classic Sneakers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Nike Stock Plunges as Sales Drop Amid Fierce Competition and Oversupply of Classic Sneakers\n</h2>\n\n<h4 class=\"meta\">\n\n2024-10-02 16:09 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nike Inc. reported disappointing fiscal first-quarter results, with revenue declining 10% year-over-year to $11.59 billion, missing analyst estimates of $11.65 billion. 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China did a better job than home market","text":"biggest drop in home market.. So much for supporting their own. China did a better job than home market","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/355838183919696","repostId":1106028314,"repostType":2,"repost":{"id":"1106028314","kind":"news","weMediaInfo":{"introduction":"Track stock‘s movements and relevant news","home_visible":1,"media_name":"Stock Track","id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"pubTimestamp":1727856541,"share":"https://ttm.financial/m/news/1106028314?lang=&edition=fundamental","pubTime":"2024-10-02 16:09","market":"hk","language":"en","title":"Stock Track | Nike Stock Plunges as Sales Drop Amid Fierce Competition and Oversupply of Classic Sneakers","url":"https://stock-news.laohu8.com/highlight/detail?id=1106028314","media":"Stock Track","summary":"Nike Inc. reported disappointing fiscal first-quarter results, with revenue declining 10% year-over-year to $11.59 billion, missing analyst estimates of $11.65 billion. The company's earnings of $0.70 per share beat expectations of $0.52, but the underlying sales figures painted a grim picture for the athletic apparel giant.The sportswear company's struggles were evident across most of its major markets. Sales in North America, Nike's largest region, fell 11%, driven by a 14% drop in footwear sa","content":"<p>Nike Inc. reported disappointing fiscal first-quarter results, with revenue declining 10% year-over-year to $11.59 billion, missing analyst estimates of $11.65 billion. The company's earnings of $0.70 per share beat expectations of $0.52, but the underlying sales figures painted a grim picture for the athletic apparel giant.</p>\n\n<p>The sportswear company's struggles were evident across most of its major markets. Sales in North America, Nike's largest region, fell 11%, driven by a 14% drop in footwear sales. The Europe, Middle East & Africa region saw a 13% decline in revenue, while Greater China sales dropped 4%. The Asia Pacific & Latin America region was also down 7%.</p>\n\n<p>Nike attributed the sales slump partly to a reduction in the number of limited-edition sneaker releases, particularly for its iconic Air Force 1, Air Jordan 1, and Dunk models. The company had oversaturated the market with too many of these popular shoes, diluting their appeal and exclusivity. As a result, Nike is now aggressively reducing the supply of these franchises to revive consumer interest.</p>\n\n<p>The company's Jordan brand, known for its premium sneakers, had been a key growth driver, generating around $7 billion in sales in the previous fiscal year. However, competition from newer brands like Hoka, On, and New Balance has intensified, eroding Nike's market share in both the running and lifestyle categories.</p>","source":"ai_movement_en","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Stock Track | Nike Stock Plunges as Sales Drop Amid Fierce Competition and Oversupply of Classic Sneakers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nStock Track | Nike Stock Plunges as Sales Drop Amid Fierce Competition and Oversupply of Classic Sneakers\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2024-10-02 16:09</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Nike Inc. reported disappointing fiscal first-quarter results, with revenue declining 10% year-over-year to $11.59 billion, missing analyst estimates of $11.65 billion. The company's earnings of $0.70 per share beat expectations of $0.52, but the underlying sales figures painted a grim picture for the athletic apparel giant.</p>\n\n<p>The sportswear company's struggles were evident across most of its major markets. Sales in North America, Nike's largest region, fell 11%, driven by a 14% drop in footwear sales. The Europe, Middle East & Africa region saw a 13% decline in revenue, while Greater China sales dropped 4%. The Asia Pacific & Latin America region was also down 7%.</p>\n\n<p>Nike attributed the sales slump partly to a reduction in the number of limited-edition sneaker releases, particularly for its iconic Air Force 1, Air Jordan 1, and Dunk models. The company had oversaturated the market with too many of these popular shoes, diluting their appeal and exclusivity. As a result, Nike is now aggressively reducing the supply of these franchises to revive consumer interest.</p>\n\n<p>The company's Jordan brand, known for its premium sneakers, had been a key growth driver, generating around $7 billion in sales in the previous fiscal year. However, competition from newer brands like Hoka, On, and New Balance has intensified, eroding Nike's market share in both the running and lifestyle categories.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NKE":"耐克"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1106028314","content_text":"Nike Inc. reported disappointing fiscal first-quarter results, with revenue declining 10% year-over-year to $11.59 billion, missing analyst estimates of $11.65 billion. The company's earnings of $0.70 per share beat expectations of $0.52, but the underlying sales figures painted a grim picture for the athletic apparel giant.\nThe sportswear company's struggles were evident across most of its major markets. Sales in North America, Nike's largest region, fell 11%, driven by a 14% drop in footwear sales. The Europe, Middle East & Africa region saw a 13% decline in revenue, while Greater China sales dropped 4%. The Asia Pacific & Latin America region was also down 7%.\nNike attributed the sales slump partly to a reduction in the number of limited-edition sneaker releases, particularly for its iconic Air Force 1, Air Jordan 1, and Dunk models. The company had oversaturated the market with too many of these popular shoes, diluting their appeal and exclusivity. 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