Nike's China sales fell 26% in a quarter. Its profit still beat forecasts.
Nike earned $0.48 a share in its first quarter, against forecasts of $0.44, Investing.com reported from Thursday's results.
Revenue came in at $11.21 billion, below the $11.35 billion analysts expected.
The company then said revenue for its financial year 2027 should fall by a high single-digit percentage. Greater China sales dropped 26% in the quarter, while North America grew 2%. The shares fell 6.24% in after-hours trading, according to Investing.com.
Chief executive Elliott Hill said: "The headline decline only tells part of the story. Within sportswear, several major franchises are healthy and growing."
The quarterly revenue miss was $140 million, about 1.2% of the forecast. A high single-digit fall for the full year is a far larger percentage, and the call transcript puts no dollar figure on it.
Which number would you have traded on, the profit beat or the forecast?
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