{"id":86874,"date":"2023-12-22T01:44:10","date_gmt":"2023-12-22T06:44:10","guid":{"rendered":"https:\/\/www.hedgeco.net\/news\/?p=86874"},"modified":"2023-12-22T01:38:06","modified_gmt":"2023-12-22T06:38:06","slug":"nike-sinks-10-after-it-slashes-sales-outlook-unveils-2-billion-in-cost-cuts","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/12\/2023\/nike-sinks-10-after-it-slashes-sales-outlook-unveils-2-billion-in-cost-cuts.html","title":{"rendered":"Nike sinks 10% after it slashes sales outlook, unveils $2 billion in cost cuts"},"content":{"rendered":"\n<p>(CNBC) <a href=\"https:\/\/www.cnbc.com\/quotes\/NKE\/\">Nike<\/a> on Thursday unveiled plans to cut costs by about $2 billion over the next three years as it lowered its sales outlook. The stock fell about 10% after hours. Nike shares were up 4.7% so far this year through Thursday\u2019s close, lagging far behind the S&amp;P 500?s gains for the year. Retailer <a href=\"https:\/\/www.cnbc.com\/quotes\/FL\/\">Foot Locker<\/a>, which has leaned heavily on Nike products, fell about 7% after hours.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.cnbc.com\/2023\/12\/21\/nike-nke-earnings-q2-2024.html\">To read this article:<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(CNBC) Nike on Thursday unveiled plans to cut costs by about $2 billion over the next three years as it lowered its sales outlook. The stock fell about 10% after hours. Nike shares were up 4.7% so far this year [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-86874","post","type-post","status-publish","format-standard","hentry","category-syndicated"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/86874","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=86874"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/86874\/revisions"}],"predecessor-version":[{"id":86875,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/86874\/revisions\/86875"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=86874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=86874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=86874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}