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Nike Executives Say Turnaround Plan Will Take Time
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Nike shares fell 5% in after-hours trading after the company reported a 9% decline in sales during the winter months and said it expected a similar drop in the spring season. Executives said that they expect a more than 10% decline for the quarter ending in May but results would begin to moderate after that. The sales decline reflects the impact of the company’s turnaround strategy and tariffs on products coming from China and Mexico, executives said.
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