By  on March 18, 2009

Nike Inc. handily beat third-quarter earnings estimates, excluding a $240.7 million impairment charge associated with its Umbro acquisition, but is preparing for shrinking global demand.

With futures orders down 10 percent to $6.5 billion for the fourth quarter, the active giant warned of further layoffs and restructuring charges of $175 million to $225 million in its fiscal fourth quarter.

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