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Nike’s Profit Boost Masks Sales Struggles | Business and Finance News
Published 2 days, 1 hour ago
Description
Nike’s latest earnings look flashy thanks to a $1 billion tariff refund, but the real story is weaker sales—especially in China—and a shaky underlying business. Without the one-time gain, profits cratered to just 20 cents per share. Greater China sales plummeted 17%, while North America grew slightly, but Nike Direct and Converse both stumbled. CEO admits “top-line headwinds” remain, and no relief is expected soon.
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