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Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin

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Nike fell short of revenue expectations during its fiscal first quarter but beat on earnings and margins.

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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