Nike (NKE) Down 4.6% After-Hours After Reporting Disappointing Future Orders
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Nike (NYSE: NKE) is trading down 4% to $50.55 after disclosing disappointing future orders.
Nike said futures orders for Nike brand athletic footwear and apparel, scheduled for delivery from June 2009 through November 2009, totaling $7.8 billion, 12% lower than orders reported for the same period last year.
Although, Nike did post better than expected quarterly earnings, the Street is focusing on the shortfall in the future orders. Nike reported Q4 non-GAAP EPS of $0.99, 3 cents better than the analyst estimate of $0.96. Revenue for the quarter was $4.7 billion, versus the consensus of $4.72 billion.
UPDATE: Click here to see some highlights from Nike's Q4 conference call.
Nike said futures orders for Nike brand athletic footwear and apparel, scheduled for delivery from June 2009 through November 2009, totaling $7.8 billion, 12% lower than orders reported for the same period last year.
Although, Nike did post better than expected quarterly earnings, the Street is focusing on the shortfall in the future orders. Nike reported Q4 non-GAAP EPS of $0.99, 3 cents better than the analyst estimate of $0.96. Revenue for the quarter was $4.7 billion, versus the consensus of $4.72 billion.
UPDATE: Click here to see some highlights from Nike's Q4 conference call.
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