Nike layoffs loom as its stock price hits punishing new lows
Culture Index
Score Breakdown
Relevance
9/25
Freshness
8/25
Authority
25/20
Brand Signal
11/15
Depth
8/15
5-Axis Cultural Radar
Shares of Nike Inc. are tumbling to fresh lows Friday morning after disappointing first quarter results and layoff plans. The athletics company reported $11.21 billion in revenue, down 4% year over year. Its revenue failed to meet Wall Street’s expectation of $11.32 billion, according to consensus estimates cited by CNBC . Nike did beat the predicted 43 cents earnings per share, reaching 48 cents
