Nike Just Admitted Its China Problem Is About to Get Worse, With $230 Billion in Market Cap Already Gone — CEO Elliott Hill Warns the Pain Isn't Over
Nike erases $230B in market cap after a Q1 revenue miss. Management warns its Greater China sales will worsen amid a digital market reset.
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Why It Matters
Nike sold less stuff than people expected in its latest quarter. The company says its China business will get even tougher soon, so watch how many shoes and clothes they actually sell there.
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Source: Benzinga · Read the original report at the publisher. Headline and figures shown for context; data may be delayed.
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