Nike’s profits were boosted by a huge tariff refund in its fourth quarter but underlying performance continued to struggle as revenue remained flat and China sales declined.
The shares fell as much as 9 per cent after the market close on Tuesday, when Nike released its results.
The company reported a quarterly net income of $1.07bn after receiving a tariff-related refund of $986mn. Nike’s full-year profits were nonetheless down 3 per cent.
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