Nike on Thursday reported quarterly earnings and gross sales that beat analysts' expectations, as extra prospects flocked to its shops for limited-
Nike on Thursday reported quarterly earnings and gross sales that beat analysts’ expectations, as extra prospects flocked to its shops for limited-edition Jordan sneakers and ordered athletic attire from its web site.
The corporate mentioned its Jordan model had its first ever billion-dollar quarter, due to new innovation and a spike in curiosity within the basketball-focused label, together with amongst girls and in markets exterior the U.S.
However the retailer’s shares fell greater than 2% in after-hours buying and selling on the information, having hit an all-time intraday excessive earlier within the day. Nike’s development on its residence turf in North America got here in barely weaker than anticipated.
This is how Nike carried out through the newest quarter in contrast with what analysts had been anticipating, based mostly on Refinitiv knowledge:
- Earnings per share: 70 cents vs. 58 cents anticipated
- Income: $10.33 billion vs. $10.09 billion anticipated
“I’ve by no means been extra optimistic about the way forward for this firm,” CEO Mark Parker mentioned.
Web earnings rose to $1.12 billion, or 70 cents a share, within the second quarter ended Nov. 30, from $847 million, or 52 cents per share, a yr in the past. That was higher than the 58 cents analysts had been anticipating, based mostly on Refinitiv knowledge.
Income was up about 10% to $10.33 billion from $9.37 billion a yr in the past, beating expectations for $10.09 billion. Nike mentioned it noticed energy throughout all geographies. And it…