Nike Lowers Holiday Sales Forecasts, New CEO Might Turn Things for Better
American sportswear and accessories supplier Nike, known primarily for its athletic footwear, has reported its financial results for the past quarter, revealing declines in both revenue and profit. Furthermore, its forecasts for the upcoming holiday season are not encouraging. The hope for this currently stagnant company lies in the new leadership, which the firm expects will help develop new strategies to compete more effectively.