Nike Falls on Earnings Beat, Plans to Continue Cutting Supply

Key TakeawaysNike stock fell after markets closed on the company's third-quarter earnings.The athletic apparel brand surpassed analysts' revenue and income estimates.Nike paid out $562 million in dividends and bought back $866 million in stock during the third quarter.Executives reportedly laid out plans to continue scaling back inventory as part of plans to cut $2 billion in costs. Nike (NKE) stock fell in post-market trading Thursday on a fourth quarter earnings report that beat analysts' expectations in ...