Nike shares tumble on tepid outlook as CEO eyes Olympics marketing win

The sports giant, which has been criticized in recent times over a lack of innovation and strategic stumbles, reported a dip in quarterly revenues as executives cited a number of headwinds. These included a drop in Nike's lifestyle business, a decline in digital sales and weakness in some key markets such as China, said Chief Financial Officer Matthew Friend, adding that these factors influenced Nike's dampened fiscal 2025 projections. "We are managing a product cycle transition with complexity amplified by …