LONDON, June 27 (Reuters) – Nike shares rose 9.2% in Frankfurt on Friday, a day after the company forecast a smaller-than-expected drop in first-quarter revenue, and said it would cut its reliance on production in China for the U.S. market to mitigate the impact from tariffs
The retailer’s U.S. shares rose 11% in extended trading on Thursday. (NKE.N), opens new tab
Nike’s results also boosted the performance of European sportswear brands on Friday such as Puma (PUMG.DE), opens new tab, up 4.5%, and Adidas (ADSGn.DE), opens new tab, up 3%. London-listed sportswear retailer JD Sports (JD.L), opens new tab rose 8%.
Reporting by Alun John
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