Nike (NKE) Tops Q1 EPS by 17c; Futures Orders Miss Views
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Nike (NYSE: NKE) reported Q1 EPS of $0.73, $0.17 better than the analyst estimate of $0.56. Revenue for the quarter came in at $9.06 billion versus the consensus estimate of $8.87 billion.
Greater China revenue rose 21%, ex. FX, and North America revenue rose 6%.
Futures orders rose 7%,, est. up 8%.
“Fueled by an incredible summer of sport, NIKE delivered strong global growth—and led the industry through disruptive innovation,” said Mark Parker, Chairman, President and CEO, NIKE, Inc. “Q1 also showed how we’re amplifying every category through sports style innovation, transforming retail by connecting the digital and physical experience and ushering in a new Era of Personalized Performance – through product, consumer connections and our supply chain. NIKE’s strategic investments in these growth opportunities continue to deliver long-term value to our shareholders."
- Inventories for NIKE, Inc. were $4.9 billion, up 11 percent from August 31, 2015, driven by a 3 percent increase in NIKE Brand wholesale unit inventories, increases in average product cost per unit, and growth in the DTC business.
- Cash and short-term investments were $4.8 billion, $621 million lower than last year as growth in net income and proceeds from the issuance of debt in the second quarter of fiscal 2016 were more than offset by share repurchases, investments in working capital and infrastructure, higher dividends, and a reduction in collateral received from counterparties to foreign currency hedging instruments.
For earnings history and earnings-related data on Nike (NKE) click here.
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