Update: it will hurt future sales.
$NKE (-6,85 %) guides next Q revenue down low double digit % vs -6.5% est and -7.7% this quarter.
Things getting worse not better.
Turnaround pushed out.
Shares now lower in response, falling 1500bps top to bottom.
$NKE Guides Q3 Rev low double digit decline y/y v -7.3%e, Gross margin -300 to -350 bps y/y; Expect greater headwind in Q4 than in Q3 from CEO's recently outlined plan - earnings call comments (NIKE Inc)