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Nike on Tuesday reported a surprise rise in first-quarter revenue and beat expectations for quarterly profit as the sportswear giant rebuilds its presence at wholesalers and CEO Elliott Hill’s turnaround efforts take hold.
But executives offered cautious comments about the pace of improvement. Shares rose 1.5 percent.
“Nike beat the low bar set for EPS and showed some wholesale strength, but the underlying fundamentals are still shaky. DTC weakness, margin pressure, and China softness are…
