Nike soars 14% after earnings beat estimates and the retail giant says it is getting inventory bloat under control

Dec 21 2022 by Business Insider

 
A Nike store logo at a New York City location.

John Smith/VIEWpress via Getty Images

Nike shares jumped as much as 14% after the company reported better-than-expected earnings Nike reported revenue of $13.32 billion versus estimates of $12.57 billion. "We believe the inventory peak is behind us actions as we're taking in the marketplace are working," CEO John Donahoe said.

Nike Inc. shares jumped as much as 14% on Wednesday after the company reported second-quarter earnings that blasted past...

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