Nike Inc comfortably beat analysts' estimates for quarterly revenue and profit on Tuesday, powered by a rebound in demand in China and strong online sales, sending its shares up about 9%.
FILE PHOTO: Nike shoes are seen on display in New York, U.S., March 18, 2019. REUTERS/Shannon Stapleton/File Photo/File Photocomfortably beat analysts' estimates for quarterly revenue and profit on Tuesday, powered by a rebound in demand in China and strong online sales, sending its shares up about 9%.
The Nike brand’s digital sales surged 82% in the first quarter ended Aug. 31, with at least double-digit rises recorded in all regions. In North America, the company’s biggest market, sales fell 2% to $4.23 billion, but easily beat analysts’ estimate of $3.39 billion, according to IBES data from Refinitiv.
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