Nike on Thursday reported a first-quarter profit that beat expectations, although sales came up just shy of expectations.
Nike Inc. on Thursday reported a fiscal first-quarter profit that beat expectations, although revenue came up just shy of Wall Street’s estimates, amid a drop in sales for Converse sneakers.The athletic-gear giant reported fiscal first-quarter net income of $1.45 billion, or 94 cents a share, compared with $1.47 billion, or 93 cents a share, in the same quarter last year. Revenue crept higher to $12.94 billion, compared with $12.69 billion in the prior-year quarter.
Analysts polled by FactSet expected Nike to report earnings per share of 76 cents, on revenue of $13 billion. Gross margin fell 10 basis points to 44.2%, weighed by higher product costs and a tougher foreign-exchange backdrop, and offset by “strategic pricing actions.” The company’s inventories fell 10%, as Wall Street seeks progress on efforts by businesses to narrow down their stockpiles of unsold goods.
Sales for Converse shoes were $588 million, down 9%, amid weaker demand in North America. Growth in Asia, however, acted as a counterweight to that decline. Nike reported earnings as stiff competition — from the likes of Adidas ADDYY, -0.51% and On Holding ONON, +0.27% — and weaker demand for sneakers and clothing keeps prices lower. While analysts say Nike stands to benefit from an enduring shift toward more casual gear, recent outlooks from sporting-goods chains like Foot Locker Inc. FL, +0.65% and Dick’s Sporting Goods Inc. DKS, +0.38% have been more downbeat.
日本 最新ニュース, 日本 見出し
Similar News:他のニュース ソースから収集した、これに似たニュース記事を読むこともできます。
Tesla Inc. stock rises Thursday, outperforms marketShares of Tesla Inc. advanced 2.44% to $246.38 Thursday, on what proved to be an all-around favorable trading session for the stock market, with the NASDAQ...
続きを読む »
Meta Platforms Inc. stock rises Thursday, outperforms marketShares of Meta Platforms Inc. rallied 2.09% to $303.96 Thursday, on what proved to be an all-around great trading session for the stock market, with the...
続きを読む »
Amazon.com Inc. stock remains steady Thursday, underperforms marketShares of Amazon.com Inc. were unchanged Thursday, on what proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index...
続きを読む »
Netflix Inc. stock falls Thursday, underperforms marketShares of Netflix Inc. sank 0.33% to $376.36 Thursday, on what proved to be an all-around positive trading session for the stock market, with the S&P 500...
続きを読む »
5 things to know before the stock market opens ThursdayHere are the most important news items that investors need to start their trading day.
続きを読む »
Jim Cramer's top 10 things to watch in the stock market ThursdayRetest of Wednesday's market lows? Will they hold?
続きを読む »