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Nike Air Jordan shoes are seen in the store in Krakow, Poland on August 26, 2021.
Jakub Porzycki | Nurphoto | Getty Images
Nike on Monday said demand for sneakers and sportswear largely held up in the fiscal fourth-quarter, despite a Covid lockdown in China and a tougher consumer environment in the U.S.
But the company said challenges such as higher transportation costs and longer shipping times are persisting.
Shares fell about 3% in aftermarket trading, despite the company topping Wall Street’s earnings and sales expectations.
Nike anticipates first-quarter revenue will be flat to slightly up versus the prior year, as it continues to manage Covid disruption in Greater China. It said it…
Source cnbc.com
