Although Nike‘s American sales continue to fall, they’re latest quarterly report still managed to exceed expectations.
Nike’s American sales continue to fall as the recent report suggest that the brand has suffered a 3% decrease over the past quarter. On the other side of the spectrum, adidas reported a 29% increase in North American sales during that same time frame. The falling American sale result in Nike?s stock price hitting $51.76, which virtually wipes away the 5.6% gain that has occurred over the course of 2017 so far.
Even with all that being said, Nike’s last quarterly report still managed to exceed Wall Street estimates. They managed to earn 57 cents a share (still a fall from last year’s performance) which was about 9 cents more than analysts has initially predicted.
via: THE STREET
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