Yesterday, 10:13 AM
- A weak earnings report from Skechers (SKX -22%) and a warning from VF Corp (VFC -2.8%) is taking down a number of peers of the apparel sellers.
- Soft demand in Asia, disruption in Europe, and continued F/X headwinds were cited by both companies.
- Oxford Industries (OXM -2.1%), Wolverine World Wide (WWW -2.6%), Crocs (CROX -2.9%), Steven Madden (SHOO -1.8%), and G-III Apparel Group (GIII -2.3%) are all lower.
- The negative start to the earnings season for the apparel/footwear sector appears to be impacting Nike (NKE -0.8%) and Under Armour (UA -0.9%) as well.
- Previously: Skechers -8% after missing Q2 expectations (July 21)
- Previously: V.F. beats by $0.01, misses on revenue (July 22)
Tue, Jun. 28, 4:25 PM
- 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
Tue, Jun. 28, 4:16 PM
Mon, Jun. 27, 5:35 PM
Tue, Mar. 22, 6:52 PM
- Nike (NYSE:NKE) has guided on its earnings call for FQ4 (May quarter) revenue to be up by a mid-single digit rate Y/Y. Consensus is for revenue to grow 8.9% Y/Y to 8.47B.
- The sports apparel giant also forecasts EPS will grow by a low-teens % in FY17 (ends May '17). Consensus is for EPS to rise 15% to $2.48. FY17 revenue is seen growing by as much as a low-double digit clip in constant currency. Consensus in actual dollars is for revenue to grow 9.9% to $36B.
- Shares are now down 6.1% after hours to $60.95, adding to the losses seen after Nike posted mixed FQ3 results (revenue missed, EPS beat) and lower-than-expected annual futures growth of 12%.
Tue, Mar. 22, 4:26 PM
- Nike (NYSE:NKE) has slipped 4.4% in after-hours trading as it beat even higher whisper numbers in EPS with its fiscal Q3 report, though revenues fell nearly $200M short of consensus.
- The company showed "robust and balanced growth across our expansive, powerful portfolio," said CEO Mark Parker. Consensus was for EPS of $0.48, but the company's $0.55 EPS beat even analyst chatter for $0.52.
- Revenues by brand: Nike, $7.6B (up 15% ex-currency); Converse, $489M (down 5% ex-currency).
- Futures orders worldwide for branded footwear/apparel were up 12% Y/Y (up 17% ex-currency), vs. analysts who were looking for 15% for better;
- Gross margin was 45.9% -- flat from the prior year as exchange rates, warehousing costs and inventory clearing offset gains from higher average selling prices and growth in Direct to Consumer business.
- Effective tax rate was 16.3% vs. a year-ago 24.4% as a higher piece of earnings came from operations outside the U.S. Inventories were up 8% to $4.6B.
- Conference call to come at 5 p.m. ET.
- Press release
Tue, Mar. 22, 4:18 PM
Mon, Mar. 21, 5:35 PM
Dec. 22, 2015, 4:29 PM
- Nike (NYSE:NKE) reports sales rose 12% in FQ2 on a constant currency basis.
- Revenue by brand (ex-currency): Nike +13% to $7.317B, Converse -5% to $398M.
- Sales growth for footwear outpaced apparel in North America and China. Overall footwear sales were up 8% to $4.592B.
- Global futures orders +15% (+20% ex-currency vs +12% expected): North America +14%, Western Europe +17%, Central/Eastern Europe +3%, Greater China +31%, Japan +26%, Emerging Markets flat (+14% ex-currency).
- Gross margin +50 bps Y/Y to 45.6% as higher selling prices helped to leverage down costs.
- Inventories +11% Y/Y to $4.6B.
- Effective tax rate -630 bps to 19.1% due to sales mix.
- Previously: Nike beats by $0.04, misses on revenue (Dec. 22 2015)
- NKE +3.01% after hours to $135.76 (all-time high territory).
Dec. 22, 2015, 4:16 PM
- Nike (NYSE:NKE): FQ2 EPS of $0.90 beats by $0.04.
- Revenue of $7.69B (+4.2% Y/Y) misses by $120M.
- Shares +2.4%.
Dec. 21, 2015, 5:35 PM
Sep. 24, 2015, 4:24 PM
- Nike (NYSE:NKE) reports sales rose 14% in FQ1 on a constant currency basis.
- Revenue by brand (ex-currency): Nike +15% to $7.9B, Converse +3% to $555M.
- Global futures orders +9% (+17% ex-currency vs +10% to +11% expected): North America +14%, Western Europe +6%, Central/Eastern Europe -3%, Greater China +22%, Japan +12, Emerging Markets -11% (+6% ex-currency).
- Gross margin +90 bps Y/Y to 47.5% as higher selling prices kicked in.
- Inventories +10% Y/Y to $4.4B.
- Effective tax rate -330 bps to 18.4% due to sales mix.
- NKE +5.05% after hours to $120.64
Sep. 24, 2015, 4:16 PM
- Nike (NYSE:NKE): FQ1 EPS of $1.34 beats by $0.15.
- Revenue of $8.41B (+5.4% Y/Y) beats by $190M.
- Shares +3.5%.
Sep. 23, 2015, 5:35 PM
Jun. 25, 2015, 4:26 PM
- Nike (NYSE:NKE) reports footwear and apparel sales both rose by over 14% in FQ4.
- Revenue by brand (ex-currency): Nike +13% to $7.4B, Converse +14% to $435M.
- Global futures orders +2% (+13% ex-currency vs +10.4% estimated): North America +13%, Western Europe +11%, Central/Eastern Europe -9%, Greater China +20%, Japan +1, Emerging Markets -14%.
- Gross margin +60 bps Y/Y to 46.2%.
- Inventories +10% Y/Y.
- SG&A expenses +6% to $2.6B on higher operating overhead due to strategic investments. SG&A expense rate +40 bps to 33.4%.
- Effective tax rate -570 bps to 17.8% due largely to intercompany transactions.
- Previously: Nike beats by $0.15, beats on revenue
- NLE +2.35% after hours to $107.97.
NIKE, Inc. designs, develops, markets and sells footwear, apparel, and equipment, accessories and services. Its athletic footwear products are designed primarily for specific athletic use, although a large percentage of the products are worn for casual or leisure purposes. It focuses on NIKE... More
Sector: Consumer Goods
Industry: Textile - Apparel Footwear & Accessories
Country: United States
Other News & PR