Sportswear giant’s turnaround is an uphill task for new CEO
Nike (NKE:NYSE) $67.94 Loss to date: 16.9% Shortly after we recommended the stock on 6 March, sportswear giant Nike (NKE:NYSE) warned its fourth quarter sales would fall by a steeper-than-expected amount. The company also forecast a 4% to 5% drop in gross margin as it looks to reduce excess inventory of styles which no longer resonate with its customers. WHAT HAS HAPPENED SINCE WE LAST SAID BUY? Nike’s shares...