Nike Shares Slide as China Caution Weighs on Guidance

Nike faces significant challenges in China, with a 20% drop in sales due to rolling lockdowns and inventory buildup. Despite missing gross margin forecasts, CEO John Donahoe remains optimistic about China's long-term potential. North America also saw a decline, while EMEA and Asia Pacific showed growth. The focus is shifting towards direct-to-consumer and online sales platforms.

What was the percentage drop in Nike's sales in China year over year?

• 15%

• 10%

• 25%

• 20%

What was the percentage increase in Nike's inventory year over year?

• 25%

• 23%

• 20%

• 15%

What is the expected trend for Nike's gross margins in the upcoming quarters?

• Decrease

• Increase

• Fluctuate

• Remain flat

Which region showed a 5% decline in sales for Nike?

• Asia Pacific

• North America

• Latin America

• Europe

Which regions were highlighted as standouts for Nike's sales growth?

• North America and Latin America

• Europe and North America

• Asia Pacific and Latin America

• China and Europe