The Air Jordan 1 shoe maker mainly blamed cautious consumer spending for the downbeat forecast on Thursday and laid out a $2 billion cost-saving program, signaling a shift in strategy to focus on profitability over sales growth.
International Business News: Nike's shares fell 11% after the company cut its revenue forecast and announced a $2 billion cost-saving plan. The sportswear giant is shifting its st
Nike shares falter as weak consumer spending prompts forecast cut streetinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from streetinsider.com Daily Mail and Mail on Sunday newspapers.