![]() ![]() dollar, higher freight costs and Nike's efforts to offer steeper discounts in an attempt to get rid of excess inventory, Chief Financial Officer Matthew Friend said. It was an odd adaptation, but in Darwinian fashion the element. The company's margins remain pressured by a strong U.S. What’s most memorable about the shoes, from a historical perspective, is the backwards Nike Swoosh near the heel of the upper. Nike's shares fell 2% in extended trading on Tuesday after the company said it expects 2023 gross margin to decline about 250 basis points, at the low end of its previous forecast range. Rival Adidas (ADSGn.DE) is still struggling from its split with the artist formerly known as Kanye West and the German company is expected to post its first annual loss in three decades this year. Nike said its apparel inventory fell in the third quarter and expects to end fiscal 2023 with "healthy" inventory levels. The company saw strong demand for its sneakers, including classic styles such as Jordan Retro and newer franchise launches such as LeBron 20, that helped grow its market share. Buy and sell Air Jordan 1 Mid SE Nike Swoosh On Tour (2020) CW7589-100 sneakers online at Restocks All our Air Jordan sneakers are 100 authentic and. ![]() March 21 (Reuters) - Nike raised its full-year revenue outlook on Tuesday after reporting quarterly results that beat estimates, but warned of margin pressures as it continues to get rid of excess inventory through heavy discounts. North America sales up 27%, EMEA sales rise 17%.Q3 revenue of $12.39 bln vs est $11.47 bln - Refinitiv.
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