Shares of Nike fell Wednesday for the 10th straight day, as it recorded its longest losing streak since it went public in 1980.
in recent months and used their dollars on services and experiences.
"There's also an increasing amount of caution when it comes to what back half demand looks like when student loan payments resume in October. We're talking about a consumer that's already under pressure due to inflation that will go through even more pressure in the fall," he said. and reduced its outlook for the second time this year, just five months after introducing it. The company attributed the poor results to a slowdown in consumer spending, particularly among its lower- to middle-income target customer base.
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