Nike, Inc. (NKE) Tops Q4 EPS by 3c; Futures Orders Up 12%, ex FX

(Updated - June 26, 2014 4:18 PM EDT)

Nike, Inc. (NYSE: NKE) reported Q4 EPS of $0.78, $0.03 better than the analyst estimate of $0.75. Revenue for the quarter came in at $7.43 billion versus the consensus estimate of $7.34 billion.

“These results demonstrate the energy and excitement NIKE brings to the market,” said President and CEO Mark Parker. “Our ability to relentlessly innovate for consumers drove our growth in FY14, and will continue to fuel it for years to come. And as we grow, we remain focused on managing all areas of our business to drive sustainable, profitable growth for our shareholders.”

North America revenue rose 10 percent to $3.29 billion, W. Europe up 25 percent to $1.31 billion, Greater China up 4 percent to $702 million, and Emerging Markets up 9 percent to $1.08 billion.

Gross margin expanded 170 basis points to 45.6 percent. The increase was primarily attributable to higher average selling prices and continued growth in the higher margin Direct to Consumer (DTC) business, partially offset by higher product input costs and unfavorable foreign exchange rates.

Inventories for NIKE, Inc. were $3.9 billion, up 13 percent from May 31, 2013. NIKE Brand wholesale unit inventories increased 12 percent. Changes in the average product cost per unit, combined with the impact of changes in foreign currency exchange rates, drove approximately 1 percentage point of net NIKE Brand wholesale inventory growth.

As of the end of the quarter, worldwide futures orders for NIKE Brand athletic footwear and apparel scheduled for delivery from June through November 2014 totaled $13.3 billion, 11 percent higher than orders reported for the same period last year, and 12 percent higher on a currency neutral basis. Estimates called for an 11.7 percent gain.

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

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