Shares of British sportswear retailer JD Sports fell about 2% on Wednesday after Nike signaled that its turnaround remains a work in progress, projecting further revenue declines amid a steepening sales slump in China. Nike posted a 1% revenue decline in its fiscal fourth quarter and warned of additional drops through the first half of fiscal 2027, as the company continues to wrestle with stiff competition and elevated inventory levels. Sales in Greater China fell 17% on a constant-currency basis in the quarter, steepening from a 10% decline in the prior period, though the result was slightly better than the 20% drop Nike had projected three months ago. North America revenue rose 3% in the quarter as Nike benefits from rebuilding wholesale relationships. On an adjusted basis, Nike earned 20 cents per share during the quarter, topping analyst estimates of 13 cents, according to LSEG data.
Nike IncNike warned of further revenue declines and steepening sales slump in China, indicating weak end-customer demand.
JD Sports Fashion PLCJD Sports shares fell after Nike's weak sales outlook, as Nike is a key supplier and its struggles signal lower demand for sportswear retailers.
Jd Com Inc