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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Nike Revenue Climbs 8% To $7B 0 comments
    Sep 27, 2013 10:32 AM | about stocks: NKE

    Originally published at www.seclive.com

    Filing in Focus: Nike 8-K, September 26, 2013

    Nike Inc. (NYSE:NKE) announced its financial results for the first quarter of fiscal year 2014, reporting positive growth in revenue and earnings. Nike revenues climbed 8% to $7.0B while its earnings increased 33% to $780M, or $0.86 per share. Sales in China fell 0.52% to $574M while future orders grew 3%. Revenue elsewhere in the world was up, including the United States with 9% and Western Europe by 11%. Nike has also been taking steps to improve its position in an effort to boost sales at next year's World Cup, marketing a soccer cleat by a Brazilian soccer star. The company's gross margin improved, despite its projections of remaining flat, from 43.7% to 44.9%. During this quarter Nike bought back 8.4 million shares valued at $526M as part of its multi-year, $8B stock repurchase program.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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