Nike cuts sales outlook amid supply chain disruption - NewsBreak

Nike Inc. lowered its sales outlook as production and shipping delays hobbled the company's efforts to meet strong demand for shoes and athleticwear. Revenue rose 12% to $12.2 billion in the three months through August after adjusting for currencies, missing analysts' expectations of $12.5 billion. The world's largest athleticwear company also warned that sales this quarter may fall as factory closures prevent Nike from keeping up with consumer demand.