Nike (NKE) Tops Q2 EPS by 4c; Futures Orders up 20%, ex. FX

Nike (NYSE: NKE) reported Q2 EPS of $0.90, $0.04 better than the analyst estimate of $0.86. Revenue for the quarter came in at $7.7 billion versus the consensus estimate of $7.81 billion.

Futures Orders: As of the end of the quarter, worldwide futures orders for NIKE Brand athletic footwear and apparel scheduled for delivery from December 2015 through April 2016 were 15 percent higher than orders reported for the same period last year. Excluding currency changes, futures orders would have increased 20 percent.

NOTE: The Street was looking for an increase of 13.6 percent.

Inventories for NIKE, Inc. were $4.6 billion, up 11 percent from November 30, 2014, driven primarily by an 8 percent increase in NIKE Brand wholesale unit inventories. Increases in average product cost per unit, as well as higher inventories associated with growth in DTC, were largely offset by changes in the value of inventories due to foreign currency exchange rates.

Greater China sales rose 24 percent (28 percent, ex FX) to $938 million.

N. America revenue rose 9 percent (10 percent, ex. FX) to $3.547 billion.

For earnings history and earnings-related data on Nike (NKE) click here.

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