Straker (ASX:STG) said that Nike will not renew its legacy services agreement beyond its current term ending Dec. 15, according to a Monday filing with the Australian bourse.
The contract loss is expected to reduce fiscal year 2026 revenue by NZ$480,000 and adjusted earnings before interest, taxes, depreciation, and amortization by NZ$290,000, the filing said.
Shares of the company fell 10% in recent Monday trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.