Nike’s US stock fell further after hours, dropping 6.6%. Although the latest quarterly performance exceeded expectations, its positive impact was offset by cautious remarks from company executives.
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The company's outgoing Chief Financial Officer, Matt Friend, stated that Nike's efforts to reduce product inventory "still face challenges," while CEO Elliott Hill pointed out that revenue growth is encountering "headwinds."
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A Nike executive stated that after experiencing a slowdown in sales in April, the company is leveraging the strong momentum of the World Cup to achieve a significant rebound in sales conversion rates.
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