New York (CNN Business)Signs that the world economy is starting to weaken have alarmed investors. Some global companies have warned of a slowdown in China. But things are looking good for Nike.
Nike’s sales surged 10% in the three months that ended November 30 from the same quarter a year ago, the company said Thursday. That included a 26% increase in China, thanks to sales from the country’s Black Friday-like Singles Day and demand for sneakers like Air Jordan.
Nike (NKE) is considered a bellwether of the broader economy. Its stock has fallen 18% over the last three months during the wider market slide. Shares rallied 7% after hours.
