From CNBC:



Nike shares plummeted after the company lowered its revenue forecast for the fiscal year, leading to a 10% drop in share price. Foot Locker, a retailer heavily reliant on Nike products, also saw its shares fall more than 5%. Nike’s new revenue outlook reflects challenges in Greater China and EMEA, as well as softer digital traffic and a stronger U.S. dollar. Analysts expressed concerns about Nike’s marketing strategy and innovation, leading to a downgrade in the stock’s rating. However, Goldman Sachs analysts maintained a buy rating but acknowledged the challenges highlighted in the company’s report. Overall, the outlook for Nike has become more uncertain, leading to a significant decrease in stock value.



Original: Nike, Foot Locker shares plunge on weak sales outlook