Nike shares fall as supply chain havoc leads retailer to slash revenue forecast

Nike shares dropped in extended trading Thursday after the sneaker giant reported quarterly revenue that missed analysts’ expectations.

Its stock was recently down around 3%.

Here’s how Nike did during its fiscal first quarter compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv:

• Earnings per share: $1.16 vs. $1.11 expected
• Revenue: $12.25 billion vs. $12.5 billion expected

Nike shares are up about 13% year to date, as of Thursday’s market close, but down about 9% from an all-time high reached in early August. The company has a market cap of $252.6 billion.

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Find the full press release from Nike here.