Nike Earnings Handily Beat Estimates, While Revenue Misses Slightly

Nike ‘s quarterly revenue came in slightly below expectations, but the miss was overshadowed by the company’s stronger-than-expected earnings.

Shares of Nike ticked up 1.3% to $90.82 in after-hours trading Thursday. The stock is down 23% this year. “NKE is one of the biggest battleground stocks in our coverage,” wrote Rick Patel, analyst at Raymond James, in a Tuesday note to clients. Patel has an Outperform rating on the stock. It doesn’t help that the economy of one of Nike’s biggest growth markets—China—is still sputtering. The macroeconomic headwinds in both of the company’s largest markets could lead Nike’s management team to lower their fiscal-second-quarter guidance, added Citi’s Paul Lejuez. Lejuez has a Neutral rating on the stock.

Telsey Advisory Group’s Cristina Fernandez agrees. The company seems to be in a “better inventory position than other brands,” she says. It will, however, likely still have to discount some products through the holiday season to keep up with competitors who may still have overburdened inventories.

المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Nike earnings on deck with focus on US consumer demand, profit marginsA gloomy outlook from Foot Locker, as well as ongoing weakness in China, will challenge Nike’s near-term sales forecasts.
مصدر: startelegram - 🏆 248. / 63 اقرأ أكثر »

Costco tops quarterly earnings expectations, even as sales remain softCostco topped quarterly earnings and revenue expectations, even as sales trends at the membership club slowed.
مصدر: NBCLA - 🏆 319. / 59 اقرأ أكثر »

Accenture Stock Drops as Earnings Outlook Misses ExpectationsAccenture posts fiscal fourth-quarter earnings of $2.71 a share on revenue of $15.99 billion.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

Nike Earnings Are Here. Wall Street Is Torn Over What to Expect.With demand for athletic wear slowing, the debate between the bears and the bulls rages on.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

CarMax Stock Slides on Earnings. Quarterly Revenue Declined 13%.The used-car seller says 'vehicle affordability challenges' weighed on second-quarter sales.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

CarMax Stock Slides on Earnings. Quarterly Revenue Declined 13%.The used-car seller says 'vehicle affordability challenges' weighed on second-quarter sales.
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »