Nike Execs: China Turnaround, Jordan Brand Will Take Time
Nike executives stated that the company's recovery in China and its Jordan Brand business will require time, during a call with analysts. The company is reducing volume in certain businesses to address excess inventory, which is expected to hurt near-term sales and profitability.
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10:10:34 PM UTC
SquawkNews
Nike says growth rates in the current second quarter will likely be pressured. The company will be comparing with a quarter when certain promotional events helped Nike's performance last year, executives say during a call with analysts. Along with that, Nike is also reducing supply in parts of the…