Nike Beats Earnings Estimates But Misses On Revenue As China Sales Slow

Nike reported higher than expected first quarter earnings per share of 94 cents.
Revenue of $12.94 billion fell slightly short of analyst estimates due to a decline in North America.
Sales growth slowed in China to 5% amid economic concerns, below expectations.
Inventories fell 10% indicating Nike reduced excess stocks.
Nike maintained premium pricing but faces discretionary spending headwinds.