Nike shares plunge after sneaker giant warns sales could fall by double digits
1. Nike warns of a 9% sales decline during the holiday quarter. 2. Fourth-quarter revenue is expected to drop more than Wall Street predicted. 3. CEO Elliott Hill's turnaround strategy has not yet shown results. 4. Nike's stock fell 9%, reaching its lowest level since the pandemic. 5. The company faces challenges like tariffs and stiff competition.