Adds second-quarter particulars, shares, compares revenue with estimates
Adds second-quarter particulars, shares, compares revenue with estimates
Dec 19 (Reuters) – Nike Inc’s NKE.N quarterly income and revenue beat Wall Avenue expectations on Thursday, however lower-than-expected gross sales in North America, its largest market, despatched shares down about 2% after the closing bell.
The world’s largest footwear maker faces intense competitors from manufacturers like Adidas ADSGn.DE, Skechers SKX.N and VF Corp’s VFC.N Vans in North America, even because it pushes to promote unique merchandise by means of its tap-and-buy SNKRS app and retail shops.
In its try to realize market share over rivals, Nike has collaborated with celebrities, ramped up sneaker launches and elevated advertising round main sporting occasions.
Income from North America rose 5.3% to $3.98 billion, however was barely decrease than the common analyst estimate of $four billion.
The corporate’s gross margin of 44% was additionally barely beneath estimates of 44.1%, harm by greater…