Nike Swooshes Ahead of Expectations Fueled by Strong Consumer Demand
Nike (NYSE: NKE) reported fiscal 2022 third-quarter results after the markets closed on Monday, March 21. The company beat Wall Street expectations on the top and bottom line as consumer demand remains resilient. The coronavirus pandemic has negatively impacted Nike's ability to manufacture enough products to fill an insatiable consumer appetite.
It's further having difficulty getting products where consumers want them. Surprisingly, consumers are increasing spending despite the myriad risks facing world economies. Let's look closer at Nike's third-quarter results.
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Source Fool.com
