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More on Nike: FQ3 futures orders +6% Y/Y, same as FQ2. Gross margin was 44.2%, +170 bps Q/Q and...

More on Nike: FQ3 futures orders +6% Y/Y, same as FQ2. Gross margin was 44.2%, +170 bps Q/Q and +30 bps Y/Y, contributed to EPS beat. $259M worth of shares repurchased (also contributed). SG&A +9% Y/Y, even with rev. growth. Inventories +4% Y/Y to $3.3B. North America remains strong, +18% Y/Y (+17% in FQ2). Greater China remains weak, -9% (-11% in FQ2). Western Europe went from -2% to +8%. Japan -13%, emerging markets +6%. Footwear +9%, apparel +7%, equipment +22%. NKE +8.4% AH. CC underway (webcast). (PR)
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