Nike reported a surprise increase in global revenue but weakening sales in important markets around Asia and Latin America, showing mixed quarterly results as the company attempts to pull out of a slump.
Shares of the US sports shoe and apparel maker fell by as much as 10 per cent in after-market trading on Thursday in response to its financial report for the quarter ended November 30.
The company is in what chief executive Elliott Hill described as the “middle innings of our comeback” from a downturn that began about two years ago. Hill, a Nike veteran, was recruited out of retirement last year to attempt a turnaround.
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