Good morning. Nike can’t catch a break. Its earnings report yesterday edged past revenue and earnings expectations, but the shares — already at a fraction of their 2021 highs — got thumped in late trading on bad sales results in China. Turning around a bruised brand is hard. Email us: unhedged@ft.com
Inflation
November’s Consumer Price Index report, released yesterday, was an “absolute blockbuster report”, if you listen to Kevin Hassett or anyone in the Trump administration. CPI rose by 2.7 per cent from the year before, way below September’s 3 per cent and consensus expectations of 3.1 per cent:
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