Oct 1 (Reuters) – Nike missed analysts’ expectations for quarterly revenue on Thursday as it continues to grapple with weak demand in China and heightened competition, keeping investors on edge about the pace of CEO Elliott Hill’s turnaround.
The sportswear giant posted sales of $11.2 billion for the first quarter, compared with analysts’ average estimate of $11.32 billion, according to data compiled by LSEG.
(Reporting by Angela Christy in Bengaluru and Danielle Kaye in New York; Editing by Shilpi Majumdar)
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