Nike quarterly sales miss estimates as China weakness, competition weigh
NKE•Nike reported first-quarter sales of $11.2 billion, below analysts’ average estimate of $11.32 billion, as weak demand in China and heightened competition weighed.
1. Quarterly sales miss
Nike posted first-quarter sales of $11.2 billion, compared with analysts’ average estimate of $11.32 billion. The company continues to grapple with weak demand in China and heightened competition, keeping investors focused on the pace of CEO Elliott Hill’s turnaround.
