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The Economic Times
The Economic Times
Debjit Sinha

Nike stock plunges after shocking earnings report, company plans lay offs

NIke Elliot Hill Neil Saunders United States

Nike stocks plunged more than eight per cent during the after hours trading. Nike share price at NYSE was down to USD 32.20, down by 8.19 per cent. Nike shares closed at USD 35.15, down by 0.71 per cent. This comes as Nike reportedly plans to cut an undetermined number of jobs and establish a new campus in India as it seeks to accelerate a turnaround following another downcast quarter. The sports giant unveiled the plan as it reported a modest decline in quarterly profits on lower sales.

Nike Earnings

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