Nike's stock has taken a hit as the company withdraws its full-year guidance in light of a changing leadership, with a new CEO poised to take over soon. Recent reports indicate that Nike has experienced a 10% revenue decline for its latest quarter, prompting concerns among investors about the company's ability to bounce back. As shoppers remain hesitant in their spending, Nike's sales and profits have suffered significantly, leading to a series of mixed financial results. The postponed investor day aims to provide clarity but has left many uncertain about Nike's turnaround timeline. Analysts note that recovering from this scale of downturn will take time, and with falling sales coupled with market challenges from rival brands, the pressure is on the incoming CEO to rejuvenate the brand's image and performance.