Nike heads for biggest quarterly drop since 2008

Nike heads for biggest quarterly drop since 2008

Bloomberg: In an industry pressured by soaring inflation, Nike Inc. is suffering more than most as its exposure to the fallout from the war in Ukraine and supply-chain issues put its shares on track for their worst quarter since 2008.

The stock is down 22% this year, double the pace of the 11% decline in the S&P 500 consumer discretionary index, as decades-high inflation hurts shoppers’ sentiment and wallets. The company will report fiscal third-quarter earnings after markets close on Monday.