The world’s largest sportswear company has missed expectations on its full-year outlook, stoking investor concerns about waning demand and competition from upstarts.
Nike Inc. shares sank after the sneaker company’s full-year outlook missed expectations, stoking investor concerns about waning demand and competition from upstarts On and Hoka, as well as rival Adidas AG. The world’s largest sportswear company sees revenue declining in the mid-single digits in the company’s current fiscal year, which began this month. Analysts had expected growth of about 2% this year, according to estimates compiled by Bloomberg.
and EBay. Before that, he had spent nearly two decades at the management consulting firm Bain & Company Inc., where in 1999 he became chief executive. Some analysts have criticized Donahoe’s leadership approach. Sam Poser of Williams Trading said recently that Nike’s current senior executives lack the “instinct and experience that the prior team had.
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