Nike's Q3 Beats Expectations, Stock Dips
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Nikes fiscal third quarter earnings surpassed expectations, with adjusted earnings per share at thirty-five cents and revenue holding steady at eleven point three billion dollars. Under new CEO Elliott Hill, the company is focusing on improving business fundamentals, particularly in China. While Nike Direct revenue slipped, wholesale revenue surged, and the core Nike brand grew slightly. However, Converse sales plummeted, and Nike stock dropped in after-hours trading. Despite challenges, the company appears to be on a positive trajectory.
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