Nike shares took a hit after the company slashed its full-year guidance and projected a 10% drop in sales for the current quarter. The sneaker giant cited soft sales in China and inconsistent consumer trends globally as contributing factors. With expectations now lowered for fiscal 2025, Nike's sales are anticipated to decline in the mid-single digits, a significant shift from previous growth forecasts. The company's finance chief, Matthew Friend, highlighted the complexity of the recovery process, attributing the revised outlook to various factors and scenarios. Nike's struggles include slower online sales, planned decreases in popular footwear lines, uncertainty in Greater China, and varying consumer preferences worldwide. As a result, the company anticipates slower sales to wholesalers as it focuses on new innovations and reduces classic offerings. Despite beating earnings estimates for the fourth quarter, Nike fell short on revenue, causing shares to plunge by 11% in extended trading. The company reported a net income of $1.5 billion and sales of $12.61 billion for the period, down 2% from the previous year. Executives attributed the sales miss to a decline in lifestyle products and underwhelming performance in the basketball and running segments. While the Chinese market exceeded expectations, sales in North America and other regions fell short. Overall, Nike's challenges signal a downward trend in sales growth, representing the company's slowest pace since 2010, excluding the impact of the Covid-19 pandemic. With an emphasis on adapting to shifting consumer preferences and market conditions, Nike faces a period of transition as it navigates through macroeconomic uncertainties and adjusts its business strategies accordingly.