Nike quarterly sales rise less than expected

A Nike logo is seen on a jacket in the Nike store in Santa MonicaThomson Reuters

(Reuters) – Nike Inc , the world’s largest footwear maker, reported quarterly revenue that missed analysts’ estimates as a strong dollar ate into sales from some of its overseas markets.

The company’s fourth-quarter revenue rose to $8.24 billion from $7.78 billion last year.

Analysts on average had expected revenue to rise to $8.28 billion, according to Thomson Reuters I/B/E/S.

(Reporting by Subrat Patnaik in Bengaluru; Editing by Savio D’Souza)