Key TakeawaysNike shares dropped more than 12% in extended trading on Thursday after the company reported weaker-than-expected quarterly revenue and cut its sales outlook.The stock sits poised to break down from a rising wedge pattern.A measured move in Nike shares, which we calculate by subtracting the distance of the downtrend preceding the rising wedge from the pattern's lower trendline, projects a price target of $75.It's also worth monitoring if a prominent swing low that formed on the chart in October ...

For the quarter ended May 2024, Nike (NKE) reported revenue of $12.61 billion, down 1.7% over the same period last year. EPS came in at $1.01, compared to $0.66 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $12.88 billion, representing a surprise of -2.13%. The company delivered an EPS surprise of +18.82%, with the consensus EPS estimate being $0.85.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectat ...

Nike on Thursday forecast a surprise drop in fiscal 2025 sales, after disappointing fourth-quarter sales laid bare the company’s weakening market share and its faltering direct-to-consumer strategy.Shares of the company were down 12% in extended trading after Nike also forecast a wider-than-expected drop in first-quarter revenue.The company’s efforts to drive more sales through its direct-to-consumer channel have failed to reap rewards as customers turn more picky about non-essential spending and splurge on ...

Thursday, June 27th, 2024Market indices closed in the green today. Not by much — except for the small-cap Russell 2000, which was up +0.76% — but it’s a winning session nevertheless. The Dow gained +0.09% (following +0.04% yesterday), a mere +36 points. The S&P 500 was also up +0.09% today, while the Nasdaq gained another +53 points, or +0.30%. Bond yield rates reflect a confidence that an easing of interest rates is on the horizon: the 10-year is at +4.288% and the 2-year (still inverted) hit +4.714%.Pendi ...

NIKE, Inc. (NYSE:NKE) Q4 2024 Earnings Call Transcript June 27, 2024 5:00 AM ET Company Participants Paul Trussell - VP, Corporate Finance and Treasurer John Donahoe - President and CEO Matthew Friend - CFO Conference Call Participants Matthew Boss - JPMorgan Lorraine Hutchinson - Bank of America Robert Drbul - Guggenheim Securities Adrienne Yih - Barclays Brooke Roach - Goldman Sachs Michael Binetti - Evercore ISI Aneesha Sherman - Bernstein Operator Good afternoon, everyone. Welcome to NIKE, Inc.'s Fiscal ...

Nike (NKE) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.66 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.82%. A quarter ago, it was expected that this athletic apparel maker would post earnings of $0.69 per share when it actually produced earnings of $0.98, delivering a surprise of 42.03%.Over the last four quarters, the compa ...

Core Insights - Nike's fiscal 2024 results show a slight revenue increase of 1% to $51.4 billion, but a 2% decline in the fourth quarter indicates challenges ahead [1] - The direct-to-consumer (DTC) strategy has faced setbacks, with fourth-quarter DTC revenues down 8%, digital sales down 10%, and sales from Nike-owned stores down 2%, while wholesale revenues increased by 5% [2] - Innovation is crucial for Nike, but reliance on classic products has led to a loss of competitive edge against brands like On Running and Hoka [3] - Global performance is mixed, with Greater China seeing a 3% revenue increase, while North America experienced a 1% decline and Converse faced an 18% revenue drop [3] - Nike has initiated a $2 billion cost-saving plan, including layoffs, to focus on key areas such as women's products and the Jordan brand, with CEO John Donahoe expressing optimism for future innovations and the 2024 Paris Olympics [4] Financial Performance - Total revenue for fiscal 2024 reached $51.4 billion, marking a 1% increase year-over-year [1] - Fourth-quarter revenue saw a decline of 2%, falling short of Wall Street expectations [1] - DTC revenues dropped by 8% in the fourth quarter, with digital sales down 10% and Nike-owned store sales down 2% [2] Market Dynamics - North America, Nike's largest market, reported a 1% revenue decline, while Greater China saw a 3% increase [3] - The performance in Europe, the Middle East, and Africa also showed slight declines, indicating broader market challenges [3] - Converse, a subsidiary brand, experienced an 18% revenue decline, highlighting the need for revitalization [3] Strategic Initiatives - Nike has launched a $2 billion cost-saving plan aimed at streamlining operations and reinvesting in key product areas [4] - The company is focusing on women's products, running, and the Jordan brand as part of its strategic shift [4] - CEO John Donahoe remains optimistic about overcoming current challenges and leveraging upcoming events like the 2024 Paris Olympics [4]

Key TakeawaysNike shares fell in extended trading Thursday after the company reported fourth-quarter revenue that fell short of analysts' estimates and said it would update its fiscal 2025 guidance.Revenue fell from the year-ago period and was below expectations, while net income rose and came in above estimates.Nike CEO John Donahoe said the company is taking on "near-term challenges head-on." Nike (NKE) reported fourth-quarter revenue that missed analysts' estimates and said the results drove the company ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Loading...Loading...Apparel and footwear company Nike Inc NKE reported fourth-quarter financial results after the market close Thursday.Here are the key highlights.What Happened: Nike reported fourth-quarter revenue of $12.6 billion, down 2% year-over-year. The revenue total missed a Street consensus estimate of $12.91 billion, according to data from Benzinga Pro.Nike Direct revenue was $5.1 billion in the fourth quarter, down 8% year-over-year. Wholesale revenues were $7.1 billion in the fourth quarter, up ...