(Reuters) -Nike reported a smaller-than-expected drop in quarterly revenue on Thursday, helped by demand for its newer products as well as discounts on its legacy sneaker lines.
The company’s fourth-quarter revenue fell 12% to $11.10 billion, compared with analysts’ expectation of a 14.9% drop to $10.72 billion, according to data compiled by LSEG.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Shinjini Ganguli)
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