Nike Profitability Lags Even as Sales Outpace Expectations

Bloomberg2023-03-22

Nike Inc. reported quarterly sales that beat Wall Street’s expectations as the sportswear brand worked down its excess inventory, but profitability missed estimates amid markdowns and high freight and...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Andrewinho
2023-03-22
Andrewinho
Opportunity!! 🤭🤭🤭

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1184582097?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-03-22 07:12","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1184582097","market":"us","top_or_hot":-1,"title":"Nike Profitability Lags Even as Sales Outpace Expectations","media":"Bloomberg","content":"<div>\n<p>Nike Inc. reported quarterly sales that beat Wall Street’s expectations as the sportswear brand worked down its excess inventory, but profitability missed estimates amid markdowns and high freight and...</p>\n\n<a href=\"https://finance.yahoo.com/news/nike-jumps-robust-sales-progress-202541934.html\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Nike Profitability Lags Even as Sales Outpace Expectations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNike Profitability Lags Even as Sales Outpace Expectations\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-22 07:12 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/nike-jumps-robust-sales-progress-202541934.html><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Nike Inc. reported quarterly sales that beat Wall Street’s expectations as the sportswear brand worked down its excess inventory, but profitability missed estimates amid markdowns and high freight and...</p>\n\n<a href=\"https://finance.yahoo.com/news/nike-jumps-robust-sales-progress-202541934.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NKE","symbol_name":"耐克","start_time":0,"source_url":"https://finance.yahoo.com/news/nike-jumps-robust-sales-progress-202541934.html","article_id":"1184582097","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1184582097","pubTimestamp":1679440320,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"Nike Inc. reported quarterly sales that beat Wall Street’s expectations as the sportswear brand work","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NKE":"耐克"},"translate_title":"销售超出预期，耐克盈利能力落后","themeId":"768868217a8a42b8834d60b34fc824ad","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NKE":0.9},"content_text":"Nike Inc. reported quarterly sales that beat Wall Street’s expectations as the sportswear brand worked down its excess inventory, but profitability missed estimates amid markdowns and high freight and material costs.Global revenue rose 14% to $12.4 billion in the quarter ended Feb. 28. That was above analysts’ average estimate of $11.5 billion. Gross margin was 43.3%, below the 43.7% estimate.Chief Executive Officer John Donahoe and his team have made progress in dealing with the merchandise glut that has forced the company to discount merchandise, hurting profit margins. Inventories were up 16% from the year prior after the company reported a 43% jump the previous quarter.Even so, the company cited “higher markdowns to liquidate inventory” as hurting gross margin, as well as higher costs for its materials and freight. Nike sees gross margin down 250 basis points in its current fiscal year, versus its prior outlook for a decline in a range of 200 to 250 basis points.In a call with investors, Chief Financial Officer Matt Friend said the company expects pressures on profitability to ease in the next fiscal year, which begins around June.The company is also “closely monitoring the building pressure on consumer confidence,” Friend said. Nike sees revenue growing this fiscal year in by a high-single-digit percentage, up from its prior guidance of mid-single-digit expansion.Nike shares slipped about 3% at 5:50 p.m. in after-market trading, erasing an earlier gain. The stock had been up about 7% this year through Tuesday’s close.Weakness in China persisted, though Nike’s troubles there may alleviate as the nation’s reopening reaches full swing. Sales rose across all regions except for greater China, where revenue fell almost 8%.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9943643119,"gmtCreate":1679440736631,"gmtModify":1679440741831,"author":{"id":"3581563418944392","authorId":"3581563418944392","name":"Andrewinho","avatar":"https://static.tigerbbs.com/3127e2bc40ab23064a5187a00a63e19b","vip":1,"crmLevel":2,"crmLevelSwitch":0,"idStr":"3581563418944392","authorIdStr":"3581563418944392"},"htmlText":"Opportunity!! 🤭🤭🤭","listText":"Opportunity!! 🤭🤭🤭","text":"Opportunity!! 🤭🤭🤭","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9943643119","repostId":1184582097,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":29,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1184582097"}