Slight drop in Nike's earnings.

But growing inventory and low margins cause the NIKE stock to fall.

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When it released its first-quarter earnings report on Thursday afternoon, it exceeded Wall Street's forecasts.

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Nevertheless, gross margin shrank as inventory rose.

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Prior to the results, Nike shares dropped to a two-year low before dropping overnight.

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Nike's earnings per share decreased by 20% to 93 cents. Up 4% to $12.69 billion, revenue.

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Nike's annual sales in China decreased 16% to $1.65 billion.

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While revenue in North America increased by 15% to $5.5 billion.

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It was fueled by a rise in shoe sales of 17%. The greatest expansion has occurred in

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