Nike Inc. shares have not been moving in the same direction as its swoosh, tumbling more than 10% since the close of last week. It recently reported a 12% global decline in forward orders through November, worse-than-expected.
Nike also warned that 2010 would be difficult, particularly the first half of the year, overshadowing its better-than-expected fourth quarter earnings. Though earnings bear forecasts, revenues were down 7.4% and profits fell 30%. Nike shares fell 3.28% to close at US$ 51.28 yesterday.
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