Nike sees stocks surge by 1.5% as revenues jump in Q1
Nikes first-quarter revenue surprised with a small rise, and the company beat profit estimates. Shares went up by 1.5% as CEO Elliott Hills changes show results. The company is working to reduce inventories and focus on core sports. New products like the womens NikeSkims line aim to compete with brands like Lululemon. Revenue in China and global markets remains mixed.
Nikes first-quarter revenue surprised with a small rise, and the company beat profit estimates. Shares went up by 1.5% as CEO Elliott Hills changes show results. The company is working to reduce inventories and focus on core sports. New products like the womens NikeSkims line aim to compete with brands like Lululemon. Revenue in China and global markets remains mixed.
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