SGB Sports & Fitness

Nike Q4 Beats on Earnings, Misses on Revenue

Nike Inc. reported flat earnings in its fourth quarter ended May 31 due in part to the need to reduce inventories in North America but results still came in a penny ahead of Wall Street’s consensus estimate. Revenues gained 6 percent to $8.2 billion and were up 9 percent on a currency-neutral basis. Worldwide futures were up 11 percent on a currency-neutral basis.

Nike Drops Lawsuit Against Olympic Contender

Nike dropped its lawsuit against Boris Berian, , a top contender for the U.S. Olympic Team in the 800 meters, with the move coming just a week before the start of the U.S. Olympic Track and Field Trials.