Greater China revenue falls 26% in first quarter, Nike expects full-year overall revenue to decline

Nike expects overall revenue for the fiscal year ending end-May next year to record a "high single-digit" percentage decline. Revenue in Greater China plunged 26% in the first quarter, while overall revenue has contracted for two consecutive quarters. Nike's shares fell 5.7% earlier in the session and are down about 45% so far this year, potentially setting a record worst annual performance.