Nike Expected to Post Worst Revenue Drop Since 2020 Pandemic

Signals point to what will potentially be the worst revenue fall for Nike since the COVID-19 pandemic rocked the industry in 2020. According to a report from Business of Fashion (BoF), falling foot traffic, app downloads and inventory crises are heavily impacting the brand's performance. The brand is poised to report an 11.5% revenue decline to $11.01 billion, as shown by data compiled by LSEG, making it the company's sharpest decline since the 38% drop reported in fourth quarter of fiscal 2020....