Nike earnings drop, says turnaround will take time …C0NTINUE READING HERE >>>
Nike shares fell as it signaled a turnaround from a rocky period would take time.
Photo: RONALD MARTINEZ / GETTY IMAGES NORTH AMERICA/Getty Images via AFP/File
Source: AFP
Nike reported a drop in profits Tuesday on sagging revenues as the sports giant cautioned that a turnaround from a rocky period would take time under a new CEO.
The athletics company’s financials showed lower sales in every operating region, as its CFO pointed to lackluster store traffic in China and excess inventories in leading markets.
The state of inventories will “require us to be more promotional,” Chief…
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