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Nike (NKE) Tops Q2 Views on Strong North America Sales; Future Orders Robust

December 20, 2012 4:30 PM EST Send to a Friend
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Nike, Inc. (NYSE: NKE) is ticking higher on the sesion following strong second-quarter 2013 results, though future orders came in a little lighter than expectations.

According to the Beaverton, OR-based clothing and footwear giant, revs rose 7.4 percent to $5.96 billion while operating income rose 9 percent to $521 million, or $1.14 per share.

The consensus was looking for revs of $5.99 billion and EPS of just $1.

North America sales rose 17 percent, easily eclipsing the next largest market. Greater China saw an 11 percent drop in sales.

Gross margin slipped 30 basis points in the quarter, to 42.5 percent.

Inventories rose 9 percent to $3.3 billion.

Futures orders rose 6 percent to $9.3 billion, or 7 percent excluding the effects of foreign currency exchanges. The Street was looking for a 7.1 percent gain.

Nike is up over 3 percent late Thursday.




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