Why Nike Stock Dropped 11% in April
(NYSE: NKE) stock dropped 11% in April, according to data provided by S&P Global Market Intelligence. It was up and down during the month as analysts and investors went back and forth about how it might be affected by the new tariff program.
Nike sells in countries all over the world, but most of its sales happen in the U.S., and much of its merchandise is produced in China and other countries impacted by new, higher tariffs.
The athletic wear giant has already been experiencing sales declines in the face of cutbacks in consumer spending, and revenue dropped 7% year over year (currency neutral) in the 2025 fiscal third quarter (ended Feb. 28). Even worse, Nike Direct revenue, which the company has been investing in to steer its brand, fell 10%. Gross margin was down 3.3 percentage points to 41.5%, and earnings per share (EPS) was $0.54, down from $0.77 the prior year.
Source Fool.com
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