FinanceNewsAPI
Nike Sales Miss in Middle East Region Sparks Investor Concern - Bloomberg.com
Overview
Nike shares plunged after the company warned of weaker-than-expected sales in the Middle East and issued a gloomy outlook that complicates CEO Elliott Hill’s turnaround plan. The revenue shortfall and cautious guidance heightened investor concern about regional demand and the firm's near-term recovery. That reaction adds to broader market fragility already driven by Middle East geopolitical tensions and rising oil prices.
Entities
ORGBloombergORGNike Inc.LOCMiddle EastPERSONElliott Hill
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