KONTAN.CO.ID - NEW YORK. Nike Inc beat Wall Street estimates for quarterly revenue on Tuesday, as persistent demand for its sneakers and sportswear in North America and Europe helped offset a sales slump in China, its most profitable market. Shares of the company rose about 7% in extended trading. Nike reported a sales jump of 30% in North America, its largest market, while its China business posted a 3% decline after COVID-related restrictions in the country hurt sales in the region.
Nike Beats Revenue Estimates on Sportswear Demand, Shares Jump
KONTAN.CO.ID - NEW YORK. Nike Inc beat Wall Street estimates for quarterly revenue on Tuesday, as persistent demand for its sneakers and sportswear in North America and Europe helped offset a sales slump in China, its most profitable market. Shares of the company rose about 7% in extended trading. Nike reported a sales jump of 30% in North America, its largest market, while its China business posted a 3% decline after COVID-related restrictions in the country hurt sales in the region.