Nike's Revenue Misses Wall Street Expectations Amid CEO Transition

Nike (NKE, Financial) reported a 10% decline in its first-quarter revenue to $11.59 billion, falling slightly below the average analyst estimates. Despite this, the company announced earnings per share of$0.70, which exceeded expectations.The company's margins improved year-over-year and surpassed projections, credited to lower costs in products, warehousing, and logistics. Price adjustments made in the previous year also contributed to increased profitability.Nike's revenue in Greater China outperformed e ...