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Brian Sozzi: Nike stock falls after weak quarter and brand sales decline

Brian Sozzi: Nike stock falls after weak quarter and brand sales decline
Nike stock plunges after quarterly sales drop

Brian Sozzi, reporter / analyst at Yahoo Finance, reports another disappointing quarter for Nike, with the stock dropping after-hours and down 80% in five years.

He highlights key issues for the quarter, including a 4% decrease in Nike brand sales, a 13% drop in online sales, a 28% decline in Converse sales, and a 26% fall in China sales. Inventory was only reduced by 3%, and Nike is reportedly signaling a major round of layoffs again.

Sozzi has previously analyzed trading behavior around major product launches, noting that Apple shares typically gain in the 60 days following iPhone reveal days. In recent coverage, he also reported on the PayPal CEO’s decision to reject a $53 billion acquisition offer. These reports provide context for his ongoing focus on earnings and executive decisions at leading consumer brands.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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