Nike's forecast for future orders misses estimate
Nike Inc (NKE.N) forecast future orders below analysts' estimate on a constant currency basis, in part due to weakness in its basketball category and increased competition from rival Adidas (ADSGn.DE), which has continued to gain ground in North America.
The company's net income rose to $1.25 billion, or 73 cents per share, in the first quarter ended Aug. 31, from $1.18 billion, or 67 cents per share, a year earlier.
Revenue for the world's largest footwear maker rose to $9.06 billion from $8.41 billion.
The company's worldwide orders for delivery from September 2016 through January 2017, a... read more
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