Nike sales jump as it works through inventory glut

2 min read The Wall Street Journal 22 Mar 2023, 09:29 AM IST

Profit at the sneaker maker fell 11% as it relied on higher markdowns

A person carries Nike shopping bags as they leave the McArthurGlen Designer Outlet on Boxing Day, in Richmond, British Columbia, on Monday, Dec. 26, 2022. (Darryl Dyck/The Canadian Press via AP) (AP) — A person carries Nike shopping bags as they leave the McArthurGlen Designer Outlet on Boxing Day, in Richmond, British Columbia, on Monday, Dec. 26, 2022. (Darryl Dyck/The Canadian Press via AP) **(AP)**

Nike Inc. made progress working through the inventory glut that squeezed the sneaker maker last year, reporting a 14% jump in quarterly sales and raising its revenue growth target.

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Nike sales jump as it works through inventory glut

Profit at the sneaker maker fell 11% as it relied on higher markdowns

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