0833 GMT - Shares in Puma and Adidas fall after U.S. sporting-goods giant Nike said it expects its sales drop to accelerate, as it continues to pursue a brand turnaround. Nike said that the outlook takes into account the estimated hit from tariffs on imported goods from China and Mexico, as well as currency headwinds and the uncertain consumer confidence. The U.S. group also said it continues to clear the excess stock. Inventories are too high in all regions, and a very weak performance in China suggests that market will take the longest to recover, Citi analysts say in a note. Puma trades 3.6% lower at 22.97 euros, while shares in Adidas are down 0.45% at 222 euros. (andrea.figueras@wsj.com)
(END) Dow Jones Newswires
March 21, 2025 04:33 ET (08:33 GMT)
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