Nike (NKE) Tops Q3 EPS by 6c; Futures Orders Rose 17%
Nike (NYSE: NKE) reported Q3 EPS of $0.55, $0.06 better than the analyst estimate of $0.49. Revenue for the quarter came in at $8.03 billion versus the consensus estimate of $8.2 billion.
As of the end of the quarter, worldwide futures orders for NIKE Brand athletic footwear and apparel scheduled for delivery from March 2016 through July 2016 were 12 percent higher than orders reported for the same period last year. Excluding currency changes, futures orders would have increased 17 percent.*
*** The Street was looking for a gain of 16.1 percent.
Inventories for NIKE, Inc. were $4.6 billion, up 8 percent from February 28, 2015 driven by a 4 percent increase in NIKE Brand wholesale unit inventories, growth in our DTC business and increases in average product cost per unit, partially offset by changes in the value of inventories due to foreign currency exchange rates.
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