Nike Misses on Earnings, North America Sales Disappoint

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Missed on its earnings yesterday for the first time in three years. But it did beat on revenue. Athletic wear is one area where consumers have pulled back their spending with ongoing high inflation sales in North America. That is Nike's biggest market rose 5%. That sounds good. But it's actually the slowest growth it's seen in the region in four quarters. Overseas sales in China jumped 16% as the country's economy recovered from COVID.