Nike's Stock Plummets 14% in Premarket Trading as Revenue Outlook Dims for 2025

Nike's stock fell almost 14% in early pre-market trading after the company said it expects revenue to decline more than expected in 2025, with an expected 10% decline in the first quarter. Nike reported fiscal 2024 fourth-quarter revenue fell 2%, below analysts' estimates, with direct-to-consumer sales down 8%. For fiscal 2025, Nike expects overall sales to fall mid-single digits, reflecting challenges from the fourth quarter. Nike CEO said fiscal 2025 "will be a transition year for our business." The company is trying to reignite sales growth after a lackluster year for the stock.