Nike reports robust sales amid persistent inventory levels

Nike Inc. posted another quarter of inventory building, but quarterly sales beat Wall Street estimates, allaying investor concerns and sending shares higher in late trade.

Global sales rose 17 percent to $13.3 billion for the quarter ended November 30, beating the median estimate of $12.6 billion compiled by Bloomberg. Sales exceeded expectations in all regions except China. Gross margin, a key gauge of profitability, also exceeded expectations, and executives said year-end performance was strong. Nike reports robust sales amid persistent inventory levels

Fry Electronics Team

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