Nike Inc. fell in early U.S. trading after its pandemic rebound suffered a setback last quarter, when supply-chain problems kept products from reaching North America, its biggest market.
The athleticwear giant, which posted surprisingly strong growth in the previous quarter, missed Wall Street estimates with its latest results. Sales amounted to $10.4 billion in the third quarter — far below analysts’ projections of $11 billion.
Its revenue in Europe also was disappointing, partly because many stores there remain shuttered due to the pandemic.
Nike shares fell as much as 3.4% in premarket trading Friday after the Thursday postclose release, before rebounding somewhat. The stock had been up 1.2% this
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