Nike Frankfurt shares rise 9% after results; lifts Adidas, Puma

LONDON (Reuters) -Nike shares rose 9.2% in Frankfurt on Friday, a day after the company forecast a smaller-than-expected drop in first-quarter revenue, and said it would cut its reliance on production in China for the U.S. market to mitigate the impact from tariffs

The retailer’s U.S. shares rose 11% in extended trading on Thursday.

Nike’s results also boosted the performance of European sportswear brands on Friday such as Puma, up 4.5%, and Adidas, up 3%. London-listed sportswear retailer JD Sports rose 8%.

(Reporting by Alun John)