A man is seen in a photo from June stretching in front of a Nike store in Beijing, China. According to the financial media outlet MarketWire, the company has seen a decline in sales in China of as much as 12 percent in the fourth quarter. (Archive photo). Photo: Wang Zhao/Ritzau Scanpix
Nike beats expectations despite decline in China
On Tuesday, Nike presented fourth-quarter financial results that largely exceeded analyst expectations. Revenue reached $10.97 billion, a one percent decrease year-on-year, but above the expected $10.86 billion. Net income rose to $1.07 billion, primarily driven by a tariff-related refund of...
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