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Nike Inc. posted more weakness in China and its Converse brand, sending shares down and offsetting higher-than-expected revenue in the latest quarter.
Direct-to-consumer sales missed expectations, while Converse plunged 30 percent in the fiscal second quarter ended Nov. 30. Revenue rose 1 percent to $12.4 billion, above the average of analyst estimates.
The shares fell 5.6 percent at 4:45 p.m. in extended trading in New York. The stock has dropped 13 percent so far this year and is headed…
