Nike Quarterly Revenue Beats on Athletic Wear Demand

Nike Inc beat analysts’ estimates for quarterly revenue on Monday, benefiting from strong demand for its athletic apparel and sneakers in North America and Europe.

The company’s shares rose 2.3 percent to $113.12 after the bell and Nike also announced a new $18 billion class B stock repurchase plan.

Affluent Americans remain largely unaffected by decades-high inflation and are splurging on higher-priced products, helping Nike maintain a…