Nike sneakers fuel sales beat, excess apparel stocks still a drag
By Ananya Mariam Rajesh (Reuters) -Nike raised its full-year revenue outlook on Tuesday after reporting quarterly results that beat estimates, but warned of margin pressures as it continues to get rid of excess inventory through heavy discounts. The company saw strong demand for its sneakers, including classic styles such as Jordan Retro and newer franchise launches such as LeBron 20, that helped grow its market share. Nike said its apparel […]