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Nike's earnings showed a consumer slowdown won't derail all retailers

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Commentary from Nike executives showed that despite mounting headwinds, demand isn't slowing down for the global athletic apparel leader.

coming to close out 2023, the world's largest sports retailer isn't seeing signs of it.

Nike sales fell about 2% in the US, and its overall sales missed Wall Street estimates for the first time in about two years. But after Barclays consumer discretionary senior analyst Adrienne Yih described the report as a "relief," as it defiedthat Nike could be caught up in the mounting macro headwinds many believe will slow consumer spending in the fourth quarter of 2023. Shares of the shoe giant reversed some of their 2023 losses on the news, rising over 6% on Friday. Nike stock is down nearly 20% for the year.

 

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