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Nike earnings jump as strong pricing offsets tariff hit

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NEW YORK -- Nike reported a jump in quarterly earnings on Thursday as strong pricing and increased direct sales helped offset a hit from US trade tariffs. The sports apparel giant notched a 31.

6 percent increase in fiscal second-quarter profits to $1.1 billion.

Gross profit margins rose due to higher pricing in the Converse brand and in direct sales to customers following heavy investment in smartphone applications and other technologies. President Donald Trump last week called off an additional round of tariffs on Chinese goods that had threatened additional Nike products.

 

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