Nike (NKE) expects Fiscal '23 reported revenue to grow high single-digits
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Nike sneakers fuel sales beat, excess apparel stocks still a drag
March 21, 2023 4:19 PM EDTBy Ananya Mariam Rajesh
(Reuters) -Nike raised its full-year revenue outlook on Tuesday after reporting quarterly results that beat estimates, but warned of margin pressures as it continues to get rid of excess inventory through heavy discounts.
The company saw strong demand for its sneakers, including classic styles such as Jordan Retro and newer franchise launches such as LeBron 20, that helped grow its market share.
Nike said its apparel inventory fell in the third quarter and expects to end fiscal 2023 with "healthy" inventory... More
Nike (NKE) Tops Q3 EPS by 24c
March 21, 2023 4:15 PM EDTNike (NYSE: NKE) reported Q3 EPS of $0.79, $0.24 better than the analyst estimate of $0.55. Revenue for the quarter came in at $12.4 billion versus the consensus estimate of $11.47 billion.
For earnings history and earnings-related data on Nike (NKE) click here.
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