Nike, Inc. (NKE) Tops Q1 EPS by 8c; Futures Orders Up 8%; China Revs Move Lower

September 26, 2013 4:16 PM EDT
(Updated - September 26, 2013 4:21 PM EDT)

Nike, Inc. (NYSE: NKE) reported Q1 EPS of $0.86, versus the analyst estimate of $0.78. Revenue for the quarter came in at $7.8 billion versus the consensus estimate of $6.97 billion.

As of the end of the quarter, worldwide futures orders for NIKE Brand athletic footwear and apparel scheduled for delivery from September 2013 through January 2014 were 8 percent higher than orders reported for the same period last year. Excluding currency changes, reported orders would have increased 10 percent.

Revenues for the NIKE Brand were $6.5 billion, up 7 percent on a currency neutral basis.

Inventories rose 6 percent to $3.5 billion.

Greater China sales fell 1 percent (3 percent ex-currency) to $574 million.

Emerging markets sales rose 1 percent (5 percent ex-currency) to $902 million.

Gross margin increased 120 basis points to 44.9 percent.

We had a great first quarter driven by our unrelenting commitment to delivering innovative products and services to athletes around the world, commented CEO Mark Parker. Our powerful portfolio of businesses combined with unmatched leadership and resources allows us to capitalize on opportunities that drive long-term value for our shareholders.

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

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