Pursuits
Nike's Tepid Forecast Disappoints Investors
- Sales growth seen trailing 10 percent consensus estimate
- Company needed to ‘blow it out’ and didn't, analyst says
Under Armour Is Giving Nike a Run for Its Money
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Nike Inc. fell after its annual forecast missed analysts’ estimates, raising concerns about growth at the world’s largest sporting-goods maker.
Sales will increase by a high-single-digit percentage during the next fiscal year, the company said on a conference call Tuesday. Analysts had projected a rate of about 10 percent for that period. Earnings will rise in the low teens, Nike said, compared with an estimate for growth of about 15 percent.