Nike profits beat expectations despite falling sales
Nike announced its financial results for the fourth quarter of the year, surpassing Wall Street expectations in both profits and revenues, despite a 12% decline in sales in its main market of China. The company achieved revenues of $10.97 billion, with an increase in gross profit margin to 8.9%, and recorded a net profit of $1.07 billion. In North America, revenues grew by 3% to $4.83 billion, while sales in China declined but still exceeded market expectations.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)