Nike stock plummets 12% in steep oneday drop OregonLive | Makemetechie.com Summary
News Summary
- Many of them own chunks of Nike’s stock, making Friday’s drop in share price particularly bruising for the local economy.The local economy also will soon take a hit from layoffs at the company..
- Nike's shares fell 12% on Friday after the company announced it expects sales to grow slower than expected for the next six months..
- Nike on Thursday said it expects to incur between $400 million and $450 million in restructuring costs in the current quarter, mostly from severance payments..
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Nikes stock plummeted 12% on Friday in the wake of the company announcing weakening sales and a plan to cut $2 billion in costs over the next three years.The company expects sales to grow roughly 1 [+2171 chars]
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