Clothing & Shoes
Nike withdraws FY guidance amid falling Q1 sales
It comes as first quarter revenue fell by 10% to $11.6bn (£8.7bn), with Nike Direct revenues down by 13% to $4.7bn, and wholesale revenues down by 8% to $6.4bn (£4.8bn)
Nike has withdrawn its full-year guidance after first quarter sales plunged, and ahead of Elliot Hill becoming president and CEO of the group later this month. The company also cancelled an investor day that was set to take place next month.
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