Nike on Tuesday reported a surprise rise in first-quarter revenue and beat profit expectations as the storied sportswear brand’s turnaround effort gained traction despite weakness in China and tariffs pressuring margins.
Nike (NKE) shares rose more than 3% on Wednesday after the company also managed to clear some of its bloated inventory and wholesale revenues returned to growth in a sign of early success for CEO Elliott Hill’s plan to get Nike back to its former glory.
Executives warned the recovery was still a way o
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