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Nike Faces Sales Decline Amid Strategic Overhaul

The sportswear giant anticipates a 10% drop in quarterly sales as it navigates market challenges and shifts its business strategy.

  • Nike's expected sales decline is significantly higher than analysts' predictions.
  • The company is revising its direct-sales strategy after underwhelming results.
  • Nike's performance in China has been mixed, with traffic declines but better-than-expected sales.
  • Cost-cutting measures are in place, including a $2 billion restructuring plan and workforce reductions.
  • Nike aims to rejuvenate its product lineup with new innovations and reduced reliance on classic franchises.
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