KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Nike's new CEO, Elliott Hill , has laid out a bold plan to reposition the iconic brand after reporting second-quarter earnings that beat analyst estimates but revealed declining revenues and profits . Key Financial Highlights Revenue : $12.35 billion (beat analyst estimate of $12.13 billion). Earnings Per Share : $0.78 (beat estimate of $0.65). Revenue Breakdown : Nike Direct : $5 billion, down 13% YoY . Nike Brand : $12 billion, down 7% YoY . CEO's Observations and Strategic Shift 1. Excess Inventory and Promotions Hill criticized past strategies, blaming over-reliance on promotions for hurting margins. Plan to use Nike Value Stores to clear excess inventory and limit promotions to traditional retail moments . "We’ll build back an integrated marketplace across Nike Direct and Wholesale ," Hill said. 2. Reinvesting in Brand and Sport Acknowledged that Nike shifted away from its core focus on ...