Nike results top estimates even as China sales drop 12%; retailer expects $986 million tariff refund

Nike announced fiscal fourth-quarter results that surpassed analyst expectations, with the company reporting net income of $1.07 billion, or 72 cents per share, compared with $211 million, or 14 cents per share, in the prior-year period. Total revenue reached $10.97 billion, declining 1% from $11.10 billion in the comparable quarter. The strongest performance came from North America, its largest market, where revenue increased 3% to $4.83 billion, though this still fell short of analyst project