Nike plans to focus on sport, innovation, marketing, and wholesale partnerships, while projecting 1% revenue growth for FY2024 and cutting costs by $2bn over three years.
Nike's Q3 2024 earnings reveal plans to improve focus on sport, product innovation, brand marketing, and wholesale partnerships. Despite beating Q3 expectations, shares fell due to a projected 1% revenue growth for FY2024 and a low single-digit revenue drop in the first half of FY2025. The company aims to cut costs by $2bn over three years and reduce its workforce by 2%.
March 21, 2024
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