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Bloomberg Markets

Nike Plummets to Lowest in Decade as Turnaround Sputters

Nike Plummets to Lowest in Decade as Turnaround Sputters
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Nike Inc. shares tumbled after the retailer gave a surprisingly gloomy outlook for the year ahead, complicating Chief Executive Officer Elliott Hill’s efforts to turn around the business. Revenue is expected to decline 2% to 4% in the current quarter and will be down in the low single-digits for the rest of the calendar year, management told investors on an earnings call Tuesday evening. Analysts

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