Straker Loses Nike Contract; Shares Fall 10%

MT Newswires Live

2025/05/26

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.

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