Ultra-woke sportswear giant Nike, named for the ancient Greek goddess of victory, is running into trouble as it loses global sales, customer loyalty and ground to its rivals, CEO Elliott Hill confirmed Thursday.
\n\nHill said the beleaguered sportswear firm plans to cut more jobs and shake up its global business divisions after the struggling company projected a steep drop in full-year revenue on the back of earlier disappointing results and failure to meet Q1 targets.
\n\nChina sales alone have plunged 26 percent for the erstwhile industry disruptor turned establishment fixture.
\n\nLast month, Nike was ejected from the S&P 100 stock market index of the biggest blue-chip firms in the U.S., as Breitbart News reported, thus ending a nearly 18-year run in the indicator.
\n\nIn latest news shares of Nike Inc. dipped over after three percent after the market close Thursday following the company’s projected sales miss in the first quarter.
\n\nNet income at the Beaverton, Ore.-based company in the first quarter of fiscal 2027 was $712 million, down two percent from $727 million at the same time last year.
\n\nThe tepid results underscored Nike’s challenges will likely persist for at least several more quarters — especially in China, where sales…
Original source: https://www.breitbart.com/sports/
