Nike Inc beat estimates for quarterly revenue on Monday, lifted by strong demand for its sports shoes and apparel in North America even as shipping hurdles and factory closures pinched supplies. The company’s shares rose nearly 3 percent in extended trading. Nike’s sales in North America, its largest market, jumped 12 percent in the company’s second quarter, as a reopening U.S. economy and the roll out of vaccines gave people confidence to rush back to stores and splurge on sneakers for running and hiking. “Nike is doing well to get in as much inventory as possible. Long term, I don’t see the momentum going away from the company because the products are so highly coveted by consumers,” said Jessica Ramirez, retail analyst at Jane Hali & Associates. The sportswear maker said its direct-to-consumer business had record Black Friday sales in North America despite supply constraints heading into the holiday season …
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