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.
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 »
Source: MarketWatch - 🏆 3. / 97 Read more »