The fall of global sports shoe brands following Nike
Shares in Puma, Adidas and JD Sports fell after US peer Nike warned sales were expected to fall in fiscal 2025, trailing the industry.
Nike on Thursday said it expects revenue to decline in the mid-single digits for the year ending May 2025, attributing the decline to uneven consumer trends in the EMEA region and a planned decline in classic footwear franchises based on fourth-quarter trends. Analysts polled by FactSet expected revenue to rise 1.4% to $52.11 billion.
The gloomy outlook followed the rejection of its fiscal fourth-quarter guidance after the group saw sales of its...