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.