Tepid Nike outlook dents shares

By Agence France-Presse

Mar 23, 2024 12:12 am

NEW YORK CITY: Shares of Nike tumbled on Thursday after the sports giant signaled a tepid near-term revenue outlook even as it promised to wow consumers with new offerings in an Olympic year.

The sports giant, which has been criticized by some Wall Street analysts over a lack of hot new products in recent times, reported flat quarterly sales and profits that were slightly lower than the year-ago period, but which topped analysts' expectations.

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