Nike Converse Revenues Fell 18% to $480M, NIKE Direct Revenues Fell 8% to $5.1 Billion, Total Revenues Down 2%
Portfolio Pulse from Benzinga Newsdesk
Nike's Converse revenues fell 18% to $480 million, while NIKE Direct revenues decreased by 8% to $5.1 billion. Overall, total revenues were down by 2%.
June 27, 2024 | 8:18 pm
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NEGATIVE IMPACT
Nike reported a significant decline in revenues across its segments. Converse revenues fell 18% to $480 million, NIKE Direct revenues dropped 8% to $5.1 billion, and total revenues were down by 2%.
The decline in revenues across multiple segments indicates potential challenges for Nike, which could negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100