Nike Q1 Profits Surpass Estimates

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Nike Q1 Profits Surpass Estimates

After six consecutive quarters of decline, Nike surpassed Wall Street expectations by reporting a profit of $1.45 billion in Q1. The boost put the fitness apparel giant at 94 cents profit per share, beating analysts’ projections of 75 cents per share. Noting that Nike has “pricing power,” David Swartz, a senior equity analyst at Morningstar, said the latest figures mean the company “will be able to avoid really severe discounting compared to som…