Nike (NKE.N) opens new tab shares dropped 6% after hours on Tuesday as the company withdrew its annual revenue forecast and postponed its investor day, weeks before a new CEO takes the helm to steer the sportswear giant through an ongoing strategy reset.
"We are withdrawing our full-year guidance ... This provides Elliott the flexibility to ... evaluate the current strategies and business trends and develop our plans to best position the business for fiscal 2026 and beyond that," Nike CFO Matthew Friend said.
