Due to high demand in China and strong online sales, Nike Inc sent its shares up about 9% comfortably beating analysts’ estimation about quarterly revenue and profit. As the pandemic has prevented the customers from shopping at malls and department stores to avoid crowds, the footwear company made a benefit for direct-to-consumer sales strategy, through its own outlets and apps especially.
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Due to online demand, Nike beats profit estimates on China
By The Thrive
September 23
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