Nike stock drops after earnings beat fails to meet market expectations despite dow jones performance
Key Points:Nike shares dropped after hours despite beating Q4 forecasts, reflecting concerns about its ongoing turnaround.Revenue fell 12% to $11.1B while net income plunged to $211M, highlighting the cost of Nike’s restructuring plan.CFO confirmed Q4 had the “largest financial impact” from the turnaround, but expects conditions to ease ahead.Nike Tops Estimates Despite 12% Sales Drop as Turnaround Costs PeakDaily Nike, Inc.Dow Jones: Nike Slips After Earnings Beat, Traders Eye Retail RecoveryNi