From CNBC:

Nike reported slower China sales in the holiday quarter but beat top and bottom line estimates due to strong growth in North America. Earnings per share were 77 cents, higher than the expected 74 cents, and revenue reached $12.43 billion, surpassing the $12.28 billion expectations. Nike’s gross margin improved by 1.5 percentage points to 44.8%. In response to changing markets, Nike has initiated restructuring plans and layoffs to invest in growth areas like running and women’s categories. Some analysts express concern over Nike’s lack of innovation and focus in product offerings, leading to uncertainty about the brand’s future direction.



Read more at CNBC: Nike (NKE) earnings Q3 2024