Nike stock surges as earnings impress, profit margins set to improve

shares jumped higher in pre-market trading Friday after the sportswear giant posted stronger-than-expected first quarter earnings and indicated profit margins would improve over the coming months.

China revenues were also light of forecasts, at $1.74 billion, while north American revenues were down 1.4% from last year to $5.42 billion. Nike also told investors that margins would expand by around a full percent this quarter thanks to improved markdowns and lower freight costs. The group also held to its full-year forecast for revenues to grow in the mid single-digit range..

“Moving forward, we are laser-focused on scaling these successes with greater consistency and speed as we continue to integrate and streamline our business," he added."This is how we’ll extend our leadership position and drive growth over the long-term."

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nike stock rallies after earnings beat, boosting Foot Locker sharesNike, Foot Locker and Bionomics are stocks in the spotlight
Source: MarketWatch - 🏆 3. / 97 Read more »

Stocks higher, inflation in focus, UAW strikes, Nike, CarnivalStocks higher, inflation in focus, UAW strikes, Nike, Carnival
Source: startelegram - 🏆 248. / 63 Read more »

Nike Earnings Handily Beat Estimates, While Revenue Misses SlightlyRevenue of $12.9 billion for the latest quarter was just shy of expectations for $13 billion in revenue, but earnings were well ahead of the Street's...
Source: MarketWatch - 🏆 3. / 97 Read more »