Nike new retail strategy, updates revenue goals

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Nike shares were up more than $1.75, or 1.8 percent, to close at $101.17, late this morning after CEO Mark Parker released new sales goals as part of the company's annual meeting.

Parker said Nike hopes to see annual revenue increases in the "high single digits" and profits to jump in the "mid-teens" over the next five years. To help push the sales growth, Nike plans to push its retail stores more aggressively.

For more on Nike's emerging retail strategy, read The Oregonian tomorrow.

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