Nike's future orders growth rate slows
(Corrects paragraph 5 to 23 percent from 26 percent)
Dec 18 (Reuters) - Nike Inc said future orders, a indicator of growth, increased 11 percent in the latest quarter, the slowest rate in four quarters and lower than market estimates.
Shares of the world's largest sportswear maker fell 2.5 percent in extended trading.
As of the end of the quarter ending Nov. 30, worldwide futures orders for Nike brand footwear and apparel scheduled for delivery from December through April was 11 percent higher, excluding currency changes, than orders reported for the same period last year.
Analysts were expecting growth of 11.3 percent, according to research firm Consensus Metrix.
The company reported a 23 percent rise in second-quarter profit due to higher demand for its basketball and running shoes in North America and strong footwear sales in Europe.
(Reporting by Ramkumar Iyer in Bengaluru; Editing by Savio D'Souza)
