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Nike Gains After China and E-Commerce Fuel Return to Growth

  • Company has been reducing inventory following lockdowns
  • North America recovery trails the rebound in other regions
Taiwan's Pride Parade
Photographer: Luca Santini/Bloomberg
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Nike Inc. gained in late trading after second-quarter revenue and profit topped Wall Street’s expectations, bolstered by e-commerce sales and rebounding growth in China.

Sales rose 8.9% to $11.2 billion in the quarter ended Nov. 30, the athleticwear company reported Friday. Analysts had projected $10.6 billion. Earnings grew to 78 cents a share, compared with a 62-cent estimate.