Journal of Commerce--Nike took a hit on Wall Street on Thursday as the sporting goods and apparel maker said rising costs in transportation as well as commodities would hurt profit margins in coming months.
The company's profit for its September-November quarter jumped 22 percent to $375 million on a 10 percent increase in sales to $4.84 billion. Company shares fell more than 5 percent, however, as investors reacted negatively to lower-than-expected future orders and rising costs for commodities and transportation.
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The company's profit for its September-November quarter jumped 22 percent to $375 million on a 10 percent increase in sales to $4.84 billion. Company shares fell more than 5 percent, however, as investors reacted negatively to lower-than-expected future orders and rising costs for commodities and transportation.
Read more!
