NIKE, Inc.

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Investigation Details

On December 21, 2023, Nike announced lower than expected sales outlook for the fiscal year 2024, and accordingly lowered its guidance blaming it on macro pressure in China and EMEA and “lower levels of growth derived from e-commerce.” Further, Nike announced a cost-savings program that included layoffs and streamlining company operations. Analysts commented on Nike’s failure to increase and improve market investments while industry competitors have seen increases in “customer acquisition and retention.”

Following this news, Nike’s stock price fell by $14.49 per share, or approximately 12% to close at $108.04 per share.