Nike (NKE) Tops Q1 EPS by 15c; Futures Orders up 17%, ex. FX
Nike (NYSE: NKE) reported Q1 EPS of $1.34, $0.15 better than the analyst estimate of $1.19. Revenue for the quarter came in at $8.4 billion versus the consensus estimate of $8.22 billion.
“Fiscal 2016 is off to a great start,” said Mark Parker, President and CEO of NIKE, Inc. “Our relentless pace of growth is driven by our proven strategy of putting the consumer first, obsessing innovation in everything we do and leveraging our powerful portfolio. We’re well-positioned to continue to deliver long-term growth that is both sustainable and profitable.”
As of the end of the quarter, worldwide futures orders for NIKE Brand athletic footwear and apparel scheduled for delivery from September 2015 through January 2016 were 9 percent higher than orders reported for the same period last year, and 17 percent higher on a currency-neutral basis.
*** Note: Consensus estimates called for a 10.3 percent gain.
Inventories for NIKE, Inc. were $4.4 billion, up 10 percent from August 31, 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 foreign currency rates.
For earnings history and earnings-related data on Nike (NKE) click here.