Nike Stock: Is the Worst Over?
Investors hoping for a turnaround at Nike (NYSE: NKE) will have to wait longer.
The world's leading sportswear company posted yet another quarter of declining revenue and profits and told investors that things would get worse in the fiscal fourth quarter, the current period.
The quarter marked Nike's fourth straight period of declining revenue as sales fell 9% to $11.3 billion, dragging earnings per share down to $0.54, well below the $0.98 it reported after adjustments in the quarter a year ago.
Source Fool.com
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