ADVFN - Advanced Financial Network.
HOME» NYSE » N » NKE Stock Price » NKE Stock News

Nike Share News

 Nike, Stock Price
NKE Stock Price
 Nike, Stock Chart
NKE Stock Chart
 Nike, Stock News
NKE Stock News
 Nike, Company Information
NKE Company Information
 Nike, Stock Trades
NKE Stock Trades

Nike 2Q Net Up 2.6% On Higher Sales; Margins Weaken

DOW JONES NEWSWIRES Nike Inc.'s (NKE) fiscal second-quarter earnings rose 2.6% as the athletic-shoe maker reported a better-than-expected revenue increase, though product costs continued to hurt its margins. Nike, one of the world's largest sporting-goods makers, has posted improving results for more than a year. But as sales have jumped in North America as well as in China and emerging markets, product-cost pressures have hurt margins. In North America, Nike's largest market, sales were up 21% in the latest quarter excluding currency changes, while emerging markets had a 26% sales jump. Sales rose 28% in China. However, sales continued to flag in Japan, slipping 7% in the latest quarter. For the quarter ended Nov. 30, Nike posted a profit of $469 million, or $1 a share, up from $457 million, or 94 cents a share, a year earlier. Revenue increased 18% to $5.73 billion. The increase amounted to 16% excluding currency changes. Analysts surveyed by Thomson Reuters predicted earnings of 97 cents a share on revenue of $5.63 billion. World-wide future orders, an indicator of growth based on estimates of product orders, were up 13% at $8.9 billion. Gross margin narrowed to 42.7% from 45.3% as cost of sales rose 24%. Gross margin has weakened recently due to higher costs for materials, labor and freight. Cost pressures first spurred Nike to increase prices last fiscal year and to consider more increases for later this fiscal year. Inventories were up 35% due to significantly higher average-unit-product cost and growth in total units. Shares rose 1.1% to $94.67 after hours. The stock, which hit its highest level ever earlier this month, is up 9.6% year to date. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com;

Stock News for Nike (NKE)
DateTimeHeadline
02/19/201510:48:12Adidas Searches for New CEO Amid Investor Pressure -- 4th Update
02/19/201509:53:47Adidas Searches for New CEO Amid Investor Pressure -- 2nd Update
02/19/201507:24:25Adidas Searches for New CEO Amid Investor Pressure -- Update
02/19/201507:00:11Adidas Searches for New CEO
02/19/201506:22:43Adidas Searches for New CEO Amid Investor Pressure

Nike and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad