Nike sales beat forecasts but China slump clouds recovery

Nike has beaten quarterly revenue expectations, but warned its turnaround will take longer than hoped as weak trading in China and cautious consumer spending continue to impact the business.
The retailer reported fourth-quarter revenue of £8.3bn, down one per cent on a reported basis and four per cent on a currency-neutral basis, ahead of analyst expectations of £8.2bn.
Nike said full-year revenue came in at £35bn, flat on a reported basis and down two per cent on a currency-ne