The company on Thursday projected a mid-single-digit percentage fall in fiscal 2025 revenue, compared to analysts' estimates of a near 1% rise, dragging shares of rivals and sportswear retailers across Europe, the United Kingdom and the United States (US) on Friday.

British sportswear retailer fell as much as 6.6% and Germany's Puma lost 3%, while Adidas edged lower after briefly rising nearly 2%.

If current losses hold, Nike's shares were set for their worst day in more than two decades and wiped out nearly $27 billion in market value.

"Nike shares are headed for a stay in the proverbial penalty box until new product innovations actually start to manifest themselves and management regains investor trust," Wedbush analyst Tom Nikic said in a note.

--Reuters--