By Connor Hart

FedEx cut its outlook for the year, citing soft demand for business-to-business shipments. The package-shipping company now expects revenue to be slightly down from last year, compared with a prior forecast for sales to be approximately flat. The lowered view came as the company logged higher profit and sales in its fiscal third quarter. Shares fall 5.1%, to $233.55, in after-hours trading.

Nike expects its sales decline to accelerate as it continues to push discounts to clear inventory in hopes of stoking a turnaround. The sportswear brand guided for sales to fall at a rate in the mid-teens from a year ago in its fourth quarter, albeit at the low end of that range. The projected decline is more than the 12% drop Wall Street forecast. Nike's outlook came after it posted lower profit and sales in its fiscal third quarter. Shares fall 4.9%, to $68.35, in post-market trading.

Lennar posted higher-than-expected profit and revenue in its fiscal first quarter, but management warned investors of a weak housing market. The homebuilding posted earnings of $1.96 a share on revenue of $7.63 billion, ahead of Wall Street views for earnings of $1.70 a share and sales of $7.43 billion. Chief Executive Stuart Miller said the recent quarter was challenging, citing high interest rates, inflationary pressures and a downturn in consumer confidence. Shares fall 3%, to $116.50, in after-hours trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

March 20, 2025 19:27 ET (23:27 GMT)

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