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Profile of the Week

Published on .

Nike shares slumped sharply after the company warned profits for its fiscal third quarter, ended Feb. 28, would miss forecasts and that U.S. sales had fallen. Nike blamed part of the shortfall on problems with distribution software that caused it to be late on retailer deliveries. Analysts said sales of mid-priced Nike shoes ($50 to $75) had fallen in the U.S. In trading Friday, Nike closed at $37.91, off 22.63% for the week and off 32.08% for the year to date.
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