Nike’s stock experienced a decline in extended trading after the company issued a warning about potential sales impacts due to its turnaround strategy and new tariffs. CFO Matt Friend informed investors that sales for the fiscal fourth quarter are expected to decrease within the low end of the ‘mid-teens range,’ surpassing analysts’ expectations of a 12% drop. The company cited several external factors contributing to the uncertainty, including geopolitical dynamics, new tariffs, volatile foreign exchange rates, and tax regulations. Despite a better-than-expected third-quarter performance, Nike’s shares dropped 5% in after-hours trading. The company anticipates that headwinds from its portfolio shift will ease post-fourth quarter. — news from Investopedia
