Against Dreary Retail Backdrop, Nike Offers a Ray of Hope

Athletic goods giant's third quarter results better than expected

Nike surprised investors last week when it reported better than expected third-quarter results, with revenues up 5% globally to $10.1 billion during the period, offering a bit of good news in an otherwise grim news environment for the retail sector.

In particular, the athletic goods juggernaut reported only a 5% decrease in sales in Greater China for the quarter ended Feb. 29, despite having to shutter retail locations and curtail store hours as part of efforts to contain the coronavirus.

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