Nike Inc's quarterly revenue and profit beat Wall Street expectations on Tu...
) quarterly revenue and profit beat Wall Street expectations on Tuesday as a push to sell sneakers and apparels to consumers through its own stores and online retailers gained pace, boosting margins and sending its shares up 6%.
It has also launched pop-up stores that cater to “sneakerheads” or loyal fans of the brand in several big U.S. cities in an effort to build a strong relationship with its customers and gain market share. Nike has been spending more in marketing after revenue hit $10 billion a quarter this year and as it grew faster than rival Adidas in Europe and China.
Revenue in North America, its biggest market, rose 3.6% to $4.29 billion, while sales from its digital platform, which includes apps and websites, grew 42%.
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