Nike’s Q3 sales trail es­ti­mates

New Straits Times - - Business -

NEW JERSEY: Nike posted thirdquar­ter sales that trailed an­a­lysts’ es­ti­mates, draw­ing crit­ics ire at its los­ing ground to ri­vals.

Rev­enue rose five per cent to US$8.43 bil­lion (RM37.3 bil­lion), said the firm. An­a­lysts es­ti­mated US$8.47 bil­lion, on av­er­age.

Ri­vals Un­der Armour and Adi­das have been grab­bing mar­ket share from Nike. The stock recorded its first an­nual de­cline in eight years last year.

World­wide fu­tures or­ders, ex­clud­ing the ef­fects of cur­rency ex­change-rate fluc­tu­a­tions, fell one per cent. An­a­lysts had ex­pected a 3.4 per cent gain. Bloomberg

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