Nike Reduces Annual Earnings Forecast as China Sales Fall

Nike Inc., the world’s largest sporting-goods company, reduced its annual forecast for sales and earnings and said revenue in China would decline in the next two quarters.

Revenue in the year ending in May will rise at a high single-digit percentage rate while earnings per share gain by a low double-digit percentage, Chief Financial Officer Don Blair said yesterday on a call with analysts. In March, Nike forecast sales would gain as much as low double digits and that profit would increase by a mid-teens percentage.