Nike (NKE): China sales slide and a weak outlook meet a $2.5 billion cost plan
Nike's fiscal Q1 revenue fell 4% to $11.21B and missed estimates, with Greater China down 22% reported (26% currency-neutral). Management guided to a high-single-digit full-year revenue decline and launched "Pace," targeting about $2.5B of savings by fiscal 2031. $NKE
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