Nike Q1 Net Income Falls 28% to $1.1 Billion as Margins Compress on Elevated Discounting-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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Nike Q1 Net Income Falls 28% to $1.1 Billion as Margins Compress on Elevated Discounting

SEC Track10-08

Core Highlights: - Net income decreased 27.5% to $1,051 million compared to the prior year - Gross margin increased 120 basis points to 45.4% - Revenues decreased 10% to $11,589 million
Revenue Breakdown: Nike Brand: - Footwear revenue decreased 10% on a currency-neutral basis. Units down 10%, ASP flat. - Apparel revenue decreased 9% on a currency-neutral basis. Units down 12%, ASP up 3%. - Nike Brand wholesale revenue down 7% on a currency-neutral basis. - Nike Direct revenue down 12% on a currency-neutral basis, driven by digital sales decline of 20%. Converse: - Revenue down 14% on a currency-neutral basis, driven by declines across all territories. - Wholesale revenue down 16%, direct-to-consumer down 15%.
Management Outlook: Management cited profitability was impacted by higher discounts amid elevated inventory levels. Near-term outlook remains challenging due to inflationary pressures.
Operating Data: - Cash and equivalents of $8.5 billion, net decrease of $1.6 billion from prior quarter - Inventories increased 9.7% to $8.3 billion - Current cash could support operations for approximately 16 quarters under current loss conditions
Operational Risks: - Currency exchange rate fluctuations, stronger U.S. dollar - Rising product costs and freight expenses reducing margins - Geopolitical tensions and economic uncertainty in Greater China - Supply chain disruptions impacting product availability

Original Filing

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MiaoMia0
·10-08
Q1?
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Units down 12%, ASP up 3%.\n        - Nike Brand wholesale revenue down 7% on a currency-neutral basis. \n        - Nike Direct revenue down 12% on a currency-neutral basis, driven by digital sales decline of 20%.\n\n        Converse:\n        - Revenue down 14% on a currency-neutral basis, driven by declines across all territories.\n        - Wholesale revenue down 16%, direct-to-consumer down 15%.<br>Management Outlook: Management cited profitability was impacted by higher discounts amid elevated inventory levels. Near-term outlook remains challenging due to inflationary pressures.<br>Operating Data: - Cash and equivalents of $8.5 billion, net decrease of $1.6 billion from prior quarter\n        - Inventories increased 9.7% to $8.3 billion\n        - Current cash could support operations for approximately 16 quarters under current loss conditions<br>Operational Risks: - Currency exchange rate fluctuations, stronger U.S. dollar\n        - Rising product costs and freight expenses reducing margins\n        - Geopolitical tensions and economic uncertainty in Greater China\n        - Supply chain disruptions impacting product availability<br><br><a href=\"https://www.sec.gov/Archives/edgar/data/320187/000032018724000065/nke-20240831.htm\">Original Filing</a>","source":null,"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 Q1 Net Income Falls 28% to $1.1 Billion as Margins Compress on Elevated Discounting</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; 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}\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 Q1 Net Income Falls 28% to $1.1 Billion as Margins Compress on Elevated Discounting\n</h2>\n\n<h4 class=\"meta\">\n\n2024-10-08 15:51 北京时间&nbsp;&nbsp;&nbsp;<strong>SEC Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Core Highlights: - Net income decreased 27.5% to $1,051 million compared to the prior year\n        - Gross margin increased 120 basis points to 45.4%  \n        - Revenues decreased 10% to $11,589 ...</p>\n\n<a href=\"\">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":"","article_id":"1114978160","we_media_id":"1033292654","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1114978160","pubTimestamp":1728373864,"sourceInfo":null,"weMediaInfo":{"media_name":"SEC Track","introduction":"Stay Updated with Major Announcements","home_visible":1,"id":"1033292654","head_image":"https://static.tigerbbs.com/f241068b466f5f9316243a75366834d5"},"summary":"Core Highlights: - Net income decreased 27.5% to $1,051 million compared to the prior year. - Gross margin increased 120 basis points to 45.4%. - Revenues decreased 10% to $11,589 millionRevenue Breakdown: Nike Brand:. - Footwear revenue decreased 10% on a currency-neutral basis. Units down 10%, ASP flat.- Apparel revenue decreased 9% on a currency-neutral basis. Units down 12%, ASP up 3%.- Nike Brand wholesale revenue down 7% on a currency-neutral basis.- Nike Direct revenue down 12% on a curre","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"NKE":"耐克"},"translate_title":"由于折扣增加导致利润率压缩，耐克第一季度净利润下降28%至11亿美元","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NKE":1},"content_text":"Core Highlights: - Net income decreased 27.5% to $1,051 million compared to the prior year\n        - Gross margin increased 120 basis points to 45.4%  \n        - Revenues decreased 10% to $11,589 millionRevenue Breakdown: Nike Brand:\n        - Footwear revenue decreased 10% on a currency-neutral basis. Units down 10%, ASP flat.\n        - Apparel revenue decreased 9% on a currency-neutral basis. Units down 12%, ASP up 3%.\n        - Nike Brand wholesale revenue down 7% on a currency-neutral basis. \n        - Nike Direct revenue down 12% on a currency-neutral basis, driven by digital sales decline of 20%.\n\n        Converse:\n        - Revenue down 14% on a currency-neutral basis, driven by declines across all territories.\n        - Wholesale revenue down 16%, direct-to-consumer down 15%.Management Outlook: Management cited profitability was impacted by higher discounts amid elevated inventory levels. 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Units down 10%, ASP flat.- Apparel revenue decreased 9% on a currency-neutral basis. Units down 12%, ASP up 3%.- Nike Brand wholesale revenue down 7% on a currency-neutral basis.- Nike Direct revenue down 12% on a curre","content":"Core Highlights: - Net income decreased 27.5% to $1,051 million compared to the prior year\n        - Gross margin increased 120 basis points to 45.4%  \n        - Revenues decreased 10% to $11,589 million<br>Revenue Breakdown: Nike Brand:\n        - Footwear revenue decreased 10% on a currency-neutral basis. Units down 10%, ASP flat.\n        - Apparel revenue decreased 9% on a currency-neutral basis. Units down 12%, ASP up 3%.\n        - Nike Brand wholesale revenue down 7% on a currency-neutral basis. \n        - Nike Direct revenue down 12% on a currency-neutral basis, driven by digital sales decline of 20%.\n\n        Converse:\n        - Revenue down 14% on a currency-neutral basis, driven by declines across all territories.\n        - Wholesale revenue down 16%, direct-to-consumer down 15%.<br>Management Outlook: Management cited profitability was impacted by higher discounts amid elevated inventory levels. Near-term outlook remains challenging due to inflationary pressures.<br>Operating Data: - Cash and equivalents of $8.5 billion, net decrease of $1.6 billion from prior quarter\n        - Inventories increased 9.7% to $8.3 billion\n        - Current cash could support operations for approximately 16 quarters under current loss conditions<br>Operational Risks: - Currency exchange rate fluctuations, stronger U.S. dollar\n        - Rising product costs and freight expenses reducing margins\n        - Geopolitical tensions and economic uncertainty in Greater China\n        - Supply chain disruptions impacting product availability<br><br><a href=\"https://www.sec.gov/Archives/edgar/data/320187/000032018724000065/nke-20240831.htm\">Original Filing</a>","collect":0,"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 Q1 Net Income Falls 28% to $1.1 Billion as Margins Compress on Elevated Discounting</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 Q1 Net Income Falls 28% to $1.1 Billion as Margins Compress on Elevated Discounting\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1033292654\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/f241068b466f5f9316243a75366834d5);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">SEC Track </p>\n<p class=\"h-time\">2024-10-08 15:51</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\nCore Highlights: - Net income decreased 27.5% to $1,051 million compared to the prior year\n        - Gross margin increased 120 basis points to 45.4%  \n        - Revenues decreased 10% to $11,589 million<br>Revenue Breakdown: Nike Brand:\n        - Footwear revenue decreased 10% on a currency-neutral basis. Units down 10%, ASP flat.\n        - Apparel revenue decreased 9% on a currency-neutral basis. Units down 12%, ASP up 3%.\n        - Nike Brand wholesale revenue down 7% on a currency-neutral basis. \n        - Nike Direct revenue down 12% on a currency-neutral basis, driven by digital sales decline of 20%.\n\n        Converse:\n        - Revenue down 14% on a currency-neutral basis, driven by declines across all territories.\n        - Wholesale revenue down 16%, direct-to-consumer down 15%.<br>Management Outlook: Management cited profitability was impacted by higher discounts amid elevated inventory levels. Near-term outlook remains challenging due to inflationary pressures.<br>Operating Data: - Cash and equivalents of $8.5 billion, net decrease of $1.6 billion from prior quarter\n        - Inventories increased 9.7% to $8.3 billion\n        - Current cash could support operations for approximately 16 quarters under current loss conditions<br>Operational Risks: - Currency exchange rate fluctuations, stronger U.S. dollar\n        - Rising product costs and freight expenses reducing margins\n        - Geopolitical tensions and economic uncertainty in Greater China\n        - Supply chain disruptions impacting product availability<br><br><a href=\"https://www.sec.gov/Archives/edgar/data/320187/000032018724000065/nke-20240831.htm\">Original Filing</a>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NKE":"耐克"},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114978160","content_text":"Core Highlights: - Net income decreased 27.5% to $1,051 million compared to the prior year\n        - Gross margin increased 120 basis points to 45.4%  \n        - Revenues decreased 10% to $11,589 millionRevenue Breakdown: Nike Brand:\n        - Footwear revenue decreased 10% on a currency-neutral basis. Units down 10%, ASP flat.\n        - Apparel revenue decreased 9% on a currency-neutral basis. Units down 12%, ASP up 3%.\n        - Nike Brand wholesale revenue down 7% on a currency-neutral basis. \n        - Nike Direct revenue down 12% on a currency-neutral basis, driven by digital sales decline of 20%.\n\n        Converse:\n        - Revenue down 14% on a currency-neutral basis, driven by declines across all territories.\n        - Wholesale revenue down 16%, direct-to-consumer down 15%.Management Outlook: Management cited profitability was impacted by higher discounts amid elevated inventory levels. Near-term outlook remains challenging due to inflationary pressures.Operating Data: - Cash and equivalents of $8.5 billion, net decrease of $1.6 billion from prior quarter\n        - Inventories increased 9.7% to $8.3 billion\n        - Current cash could support operations for approximately 16 quarters under current loss conditionsOperational Risks: - Currency exchange rate fluctuations, stronger U.S. dollar\n        - Rising product costs and freight expenses reducing margins\n        - Geopolitical tensions and economic uncertainty in Greater China\n        - Supply chain disruptions impacting product availabilityOriginal Filing","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":0,"commentSize":1,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}