Nike shares plunge 11% after retailer says quarterly sales will fall 10%, warns on China weakness

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Nike warned that it would cut its fiscal 2025 guidance as it continues to face challenges in its business.
For the fiscal fourth quarter, the sneaker giant handily beat earnings estimates but fell short on Wall Street’s sales expectations.
Nike executives told CNBC the revenue miss was attributable to a slowdown in lifestyle sales, among other factors.

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