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Nike Loses Its Footing; Profit Stumbles 30%
Nike(NKE Quote), true to its slogan, is just doing it -- if by "it" you mean posting a quarterly plunge in profits of 30%.
The news sent shares down 5% to $50.75 in after-market trading.
The sneaker giant earned $341.4 million during the quarter, or 70 cents a share, compared with $490.5 million, or 98 cents, in the year-ago period.
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