Lates News

Nike (NKE.N) exceeded sales expectations in the latest quarter, indicating progress in turning around its business difficulties. However, weakness in the Chinese market and the Converse brand still persist. Revenue in the second quarter increased by 1% to $12.4 billion, surpassing analysts' average expectations. Earnings per share also exceeded expectations. However, sales directly to consumers did not meet expectations, causing Nike's stock price to drop by 5% in after-hours trading. The stock has already fallen by 13% this year and may record its fourth consecutive annual decline. Nike is currently focusing on core sports projects and key cities, while rebuilding relationships with retail partners in order to achieve growth and regain favor with investors and consumers. Despite gaining traction, management still faces questions about the performance of the Converse brand (which saw a 30% decrease in sales) and the Chinese market.