They're also keen to see Nike's margins recover after bloated inventories, high promotions and supply chain woes contributed to lower profits over the last few quarters.
Sales in China grew by 5% compared to the year-ago period to $1.74 billion, which fell short of the $1.84 billion analysts had expected, according to StreetAccount.ended May 31, Nike saw China sales jump 16% compared to the year-ago period. But the numbers were against easy comparisons because the region was still under Covid-related lockdown orders during the prior year.
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Stocks edge higher, jobs data up next, Peloton, Micron, NikeStocks edge higher, jobs data up next, Peloton, Micron, Nike
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Nike earnings on deck with focus on US consumer demand, profit marginsA gloomy outlook from Foot Locker, as well as ongoing weakness in China, will challenge Nike’s near-term sales forecasts.
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