Nike falls on downbeat Q2 profit amid tariff pressures

Shares of sportswear giant Nike NKE.N down almost 5% at $62.51 after the bell

Co reports decline in Q2 profit, hurt by pressure from tariffs and its efforts to clear out aged inventory on its gross margins

Q2 profit declines 32% to $792 million or 53 cents per share

However, quarterly revenue grew 1% to 12.43 billion, beating analysts' estimate of $12.22 billion- as per data compiled by LSEG

Up to last close, stock down ~15% YTD