American firm Nike’s revenues slightly rise to $12.4 bn in Q3 FY24

Nike reported a modest revenue rise in Q3 FY24 to $12.4 billion, with a 2 per cent rise in Nike brand revenues.
Converse faced a 19 per cent drop to $495 million, primarily in North America and Europe.
Gross margin improved to 44.8 per cent, but net income fell by 5 per cent to $1.2 billion, and EPS decreased to $0.77.
Inventories declined by 13 per cent.

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