Nike Shares Drop 8.7% in Frankfurt After Unexpected Sales Forecast Cut

Nike shares fell by 8.7% in early trading on the Frankfurt Stock Exchange following the company's unexpected revision of its fourth-quarter sales forecast. According to Jin10, the sportswear giant's decision to lower its sales expectations has raised concerns among investors, leading to a significant drop in its stock price. The adjustment in the forecast comes amid challenging market conditions and heightened competition in the industry. Nike's revised outlook has prompted analysts to reassess the company's growth prospects for the remainder of the fiscal year.