Nike Trips A Little in Fourth Quarter

It's not that Nike is doing badly.

By any stretch.

But the Beaverton-based giant had a fourth quarter that was slightly disappointing with stock slipping four percent in after hours trading.

Earlier the company had announced that it had just missed fourth quarter projections.

Again - it's not like the company is hurting.

The company's revenue was down two percent to $846 million on $8.2 billion in revenue or 49 cents a share.

Company officials, who said the decline could be attributed to several factors including clearance of excess inventory and administrative expenses, were still optimistic.

"Our consistent growth is fueled by innovation, which is why fiscal 2016 was such a breakthrough year for NIKE in everything we do," said Mark Parker, President and CEO, NIKE, Inc. "From product to manufacturing to how we serve our consumers - more personally and at scale - we’ve raised the bar of what’s possible.

"Fueled by our unrivaled roster of athletes, fiscal 2017’s calendar of sport moments promises to build on our business momentum and inspire consumers."

Despite the fourth quarter drop, the company experienced growth overall on the fiscal year with revenue and sales both growing.