Nike beats revenue estimates on North America demand By Reuters

Nike beats revenue estimates on North America demand By Reuters
Nike beats revenue estimates on North America demand© Reuters. FILE PHOTO: The Nike swoosh logo is seen outside the store on 5th Avenue in New York, New York, U.S., March 19, 2019. REUTERS/Carlo Allegri/File Photo

By Uday Sampath Kumar

(Reuters) -Nike Inc beat quarterly revenue and profit estimates on Monday, lifted by strong demand for its sports shoes and apparel in North America, and said it was more confident of easing supply chain issues in its next fiscal year.

The company’s shares rose 3.7% in extended trading.

Nike (NYSE:)’s second-quarter sales in North America, its largest market, jumped 12%, as a reopening U.S. economy and the roll out of vaccines gave people confidence to rush back to stores and splurge on sneakers for running and hiking.

“Nike is doing well to get in as much inventory as possible. Long term, I don’t see the momentum…

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