- Nike (NYSE:NKE) has slid 6.3% just after reporting its Q4 earnings where revenues missed slightly despite some growth driven by international sales.
- Revenues by brand: Nike brand, $7.73B (up 8% ex-currency); Converse, $513M (up 18% ex-currency).
- Futures orders worldwide for branded footwear/apparel (scheduled for delivery June-November) were up 8% to $14.9B (up 11% ex-currency, short of expectations for a 13% gain). Inventories were up 12%.
- Gross margin fell 30 basis points to 45.9% amid higher costs for product and clearing excess North American inventory and unfavorable foreign exchange. Effective tax rate was 21.2%, up from a year-ago 17.8%.
- Conference call to come at 5 p.m. ET.
- Press Release