Overview

• 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.