NIKE, Inc. (NYSE:NKE) shares declines -6.61% in extended hours

NIKE, Inc. (NYSE:NKE) shares declines -6.61% in extended hours after the company reported weak sales in its largest North American geographic segment for the fiscal third quarter.

The company reported domestic sales of $3.81 billion grew 7% from the year-ago quarter, but came in below the $3.85 billion analysts were expected.

Nike posted total adjusted earnings for the quarter were 68 cents per share on revenue of $9.6 billion, versus expectations of earnings of 65 cents on sales of $9.65 billion. The net income of $1.1 billion for the fiscal-third quarter reversed as loss of $931 million in the year-ago period, and gross margin expanded 130 basis points to 45.1%.