New York, June 30, 2026 (AFP) - Tepid outlook weighs on Nike despite tariff refund boost

NAMPA / AFP

2026-07-01

Nike earnings released Tuesday were lifted by a hefty US tariff refund, but weak sales in China and a tepid forecast weighed on shares. The company, which has been in turnaround mode under a new CEO after a difficult stretch, estimated a tariff recovery of $986 million after the US Supreme Court threw out some of President Donald Trump's tariffs. That sum accounted for most of Nike's $1.1 billion profit in the quarter ending May 30 -- about five......

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