Nike (NKE) reported fourth quarter gross sales that topped expectations however income got here in barely decrease than anticipated after the bell on Thursday.
Shares of Nike have been down about 1% after the report.
Here is how Nike’s outcomes stacked up towards Wall Road analyst expectations, in line with Bloomberg consensus estimates:
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Income: $12.83 billion versus $12.59 billion anticipated
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Adj. earnings per share (EPS): $0.66 versus $0.67 anticipated
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Gross margin estimate: 43.6% versus 43.5% anticipated
Nike confirmed a restoration in Better China with gross sales of $1.81 billion in comparison with the $1.64 billion analysts had been anticipating. Inventories have been practically flat from a yr in the past, boosting sentiment that Nike’s stock glut has been cured.
Nike’s inventory stumbled going into the report with shares down 6% on the yr and analysts reducing their worth targets on shares of the athletic attire model in current weeks. Fears had swirled about dwindling North American demand and struggling income progress in Better China because of COVID-19 restrictions.
Josh is a reporter for Yahoo Finance.
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