Nike (NKE) shares fell Wednesday, a day after the company 澳洲幸运5官方开奖结果体彩网:declined to offer a fu💧ll-year ou🦄tlook alongside its 澳洲幸运5官方开奖结果体彩网:fiscal first-quarter results. 

The sports apparel giant is transitioning to a new 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO), with Nike veteran 澳洲🍌幸运5官方开奖结果体🐼彩网:Elliott Hill returning to the company to take the reins later this month. The company said its decisions not to offer fiscal 2025 guidance and to delay its November inꦰvestor day were mad♓e to give Hill more time to get settled. 

Last month, the sneaker maker announced that Hill would replace John Donahoe amid a strategy reset in an 澳洲幸运5官方开奖结果体彩网:ongoing effort to revive sales, rebuild who﷽lesale partnerships, and improve bra🌠nding.

Nike Q1 Profit Sank 28%, Revenue Declined 10%

Nike's first-quarter revenue fell 10% year-over-year to $11.59 billion, narrowly missing the consensus estimate of analysts polled by Visible Alpha. Net income was $1.1 billion, down 28% from a year ago but above expectation. 

Shares of Nike, which fell more than 5% to $84.15 early Wednesday afternoon, are down 22% t🐻his year.