By Kimberly Chin
Nike Inc. said its revenue rose modestly in the latest quarter as supply chain woes and inventory constraints continued to crimp business.
Revenues were $11.36 billion for the quarter ended Nov. 30, up 1% from the year-ago period and ahead of analysts’ consensus estimate of $11.25 billion, according to FactSet. Nike’s direct sales rose 9% to $4.7 billion. Digital sales increased 12%.
The sneaker giant said second-quarter profit rose to $1.34 billion from $1.25 billion a year earlier. Per-share earnings were 83 cents, compared with 78 cents a year earlier. Analysts were expecting a profit of 66 cents a share.
Write to Kimberly Chin at [email protected]
