Today, 2:26 AM
- Nike (NYSE:NKE) CEO Mark Parker's total compensation nearly tripled to $47.6M for fiscal 2016 - compared with a year earlier - thanks to a big increase in stock awards tied to him taking over the chairman role from Phil Knight.
- Since becoming CEO in 2006, Parker has steered Nike to more than $32B in sales, more than double the level when he took over.
Fri, Jul. 22, 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)
Fri, Jul. 8, 1:39 PM
- Under Armour (UA -0.9%) signed a deal with Aston Villa of the English Premier League. The uniform contract runs through the 2021 season.
- Nike (NKE +1.1%) renewed a deal with the La Liga Spanish Football League out to 2019. The highly-respected league, which features Lionel Messi and Christiano Ronaldo, will use Nike's Ordem 4 soccer ball.
- The company also scored a minor victory over Adidas (OTCQX:ADDYY) after the German company was shut out for the first time in over 30 years from being sponsor in the European Championship final. Both France and Portugal will wear the swoosh on Sunday in Saint-Denis.
- Both Adidas and Nike expect soccer-related sales of over $2B this year.
Thu, Jun. 30, 4:42 PM| Thu, Jun. 30, 4:42 PM | 10 Comments
Wed, Jun. 29, 9:02 AM
- Down sharply overnight after Q4 revenues came in light, Nike (NYSE:NKE) is now higher by 1% in premarket action. Helping is a strong defense from the sell-side.
- Acknowledging near-term headwinds, Jefferies says the stock still deserves to trade at a premium multiple. He reiterates his Buy rating, though cutting the PT to $65 from $67 (yesterday's close $53.09).
- UBS remains bullish, BB&T reiterates its Buy rating, and Piper Jaffray its Overweight rating.
Wed, Jun. 29, 7:24 AM
Tue, Jun. 28, 5:37 PM
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, Jun. 21, 11:03 AM
- Yesterday's performance shoe models are today's lifestyle shoes in a trend that's adding gusto to the sneakers industry.
- NPD Group estimates that so-called heritage shoes are the fastest-growing footwear category in the U.S. Heritage sales rose more than 50% in 2015 to account for close to 20% of all U.S. athletic footwear sales.
- Well-known heritage shoes such as Adidas' (OTCQX:ADDYY) Stan Smiths and Converse's (NYSE:NKE) Chuck Taylors are just a small part of the trend as celebrities, fashionistas, and even corporate suit wearers are all branching out into new retro areas.
- During Nike's last earnings call (transcript), execs tipped that the company doesn't take long to take a current performance shoe into the retro category when it called the new Black Mamba Pack (Kobe Bryant) a retro product.
Sun, Jun. 19, 11:25 AM
- A tantalizing game 7 of the NBA Finals scheduled for tonight between the Golden State Warriors and the Cleveland Cavaliers arrives just as the battle between heavyweight Nike (NYSE:NKE) and upstart Under Armour (NYSE:UA) has been ratcheted up a notch. Star endorsers Lebron James and Stephen Curry could both increase their near-icon status with a strong clutch performance.
- As far as talent rosters go, Nike replaced the general manager of its global basketball business, while Under Armour brought back its Curry One architect.
- Both moves came after Foot Locker (NYSE:FL) cited some slower basketball demand during its last earnings call (transcript) and some analysts questioned pricing trends on the higher end of the basketball shoe business.
- Under Armour's basketball shoes sales are up over 700% since the company signed Stephen Curry, including a 64% Y/Y jump in Q1 as it continued to broaden out its basketball portfolio. Nike still claims the dominant market share position, and in the NBA has 75% of the players wearing the Swoosh.
- As might be expected, Under Armour trades with the higher forward price-to-earnings ratio than Nike (46X vs 22X) and higher price-to-sales ratio (3.75X vs 2.83X). There's plenty of stirring debate on Seeking Alpha over those numbers and more in the NKE vs. UA conversation.
Thu, Jun. 16, 9:57 AM
- Nike (NYSE:NKE) is down 1.9% in early trading amid some disruption in its basketball business.
- The company brought back Craig Zanon as vice president and general manager of Nike Global Basketball after the unexpected resignation of Michael Jackson this week.
- Nike has felt some pressure from Under Armour in basketball and Adidas in soccer this year, although Wall Street is still overwhelmingly bullish on the Swoosh with 24 Buy ratings stacking up against the 6 Holds and 2 Sells.
Fri, Jun. 10, 7:35 AM| Fri, Jun. 10, 7:35 AM | 7 Comments
Wed, Jun. 8, 5:18 PM
- Nike (NYSE:NKE) says it will continue its sponsorship of Maria Sharapova despite today's ruling by the International Tennis Federation that she serve a two-year ban for doping.
- NKE had suspended its contract with Sharapova in March following her confession that she failed a drug test at the Australian Open.
- NKE has endorsed athletes in the past following the completion of a drug ban, most notably sprinter Justin Gatlin, who ran for the company in the early 2000s before serving a four-year ban.
Wed, Jun. 8, 12:30 PM
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
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