The good folks over at Nike are back in the news, but things are a bit different this time around. Today the word comes down that Nike’s recent earnings report has fallen short of its Wall Street forecast, falling by six percent in the process. The news comes on the heels of reports that sales were up for the most recent quarter. However, it was not enough to meet what analysts had forecasted.
Mark Parker recently spoke about possible reasons for the decline stating: “the retail landscape, particularly in the U.S., is not in a steady state. I think that’s obvious.” Which is true as retailers like Target, Macy’s, Sears and even Dick’s Sporting goods have all been struggling as of late. However, Nike is not the only sportswear brand in a bit of a pickle. Under Armour has also been struggling as of late. Interesting news to say the least, but what are your thoughts? Speak on it below and stay tuned for much more on this coming very soon!
Photo: STREETER LECKA/GETTY IMAGES