Nike Inc (NYSE:NKE) capped off earnings reports for 2023 with better-than-expected second-quarter profits of $1.03 per share, though revenue missed the mark. The retailer also slashed its annual forecast and noted it will cut hundreds of jobs to save $2 billion in the next three years, as consumers remain cautious and online sales lag, spurring more promotions.NKE was last seen down 10.3% at $109.87, following a downgrade from TD Cowen to "perform" from "outperform," and a price-target cut to $104 from $129 ...

Nike's stock sank 10% on Friday and dragged shares of other sportswear companies after weak consumer spending forced the Air Jordan 1 shoemaker to cut its annual revenue forecast and signal a profit-over-sales strategy shift. The company also laid out a $2 billion cost-saving plan on Thursday and said it was adopting a "more prudent approach" to planning for the rest of the year, blaming the forecast cut on weakness in its online business and increased promotions.That sent shares of rivals Adidas and Puma d ...

Nike has taken its game to the next level in the women’s market, boasting a reported business of around $9 billion — excluding Jordan and Converse. “Our women’s business has grown high single digits on average over the past three years,” Nike President and CEO John Donahoe said during an earnings call with analysts on Thursday (Dec 21). Donahoe highlighted that approximately 40% of Nike’s members are women consumers — and this group is growing, representing a rising portion of new members. This trend indica ...

Key PointsNike's recent report spooked investors, and shares fell hard in the after-hours session.They missed on revenue, and management guided lower for the coming quarters. However, some bright spots, such as their margins, made things interesting heading into 2024.5 stocks we like better than NIKEThe big swoosh is set to look a little deflated heading into 2024 after Nike Inc NYSE: NKE reported its fiscal Q2 earnings last night. Shares had been rallying since the end of September, gaining close to 40% th ...

Shares of Nike Inc. NKE, +0.91% plunged 12.9% toward a one-month low in premarket trading Friday on the back of a disappointing earnings report, as they head for the biggest one-day selloff in 26 years. The athletic apparel and accessories giant’s stock was the biggest decliner among Dow Jones Industrial Average DJIA, +0.87% and the S&P 500 SPX, +1.03% trading ahead of the open. The stock’s implied price decline would shave about 104 points off the Dow’s price, while Dow futures shed 106 points, or 0.3%. T ...

About this content About Jeremy Cutler Jeremy has worked extensively in the world of financial journalism as a reporter at ICV News, deputy editor at S&P Marketscope and as a senior reporter for Thomson Financial’s Marketeye.  A qualified accountant, former finance director and with a degree in Economics, Jeremy is well placed to analyse and explain the ups and downs of UK, European and US stockmarkets in Proactive’s daily market report Read more About the publisher Proactive financial news and online br ...

BEAVERTON, Ore.--(BUSINESS WIRE)--NIKE, Inc. (NYSE:NKE) today reported fiscal 2024 financial results for its second quarter ended November 30, 2023. Second quarter revenues were $13.4 billion, up 1 percent on a reported basis compared to the prior year and down 1 percent on a currency-neutral basis* NIKE Direct revenues were $5.7 billion, up 6 percent on a reported basis and up 4 percent on a currency-neutral basis NIKE Brand Digital sales increased 4 percent on a reported basis and 1 percent on a c ...

NIKE, Inc. (NYSE:NKE) Q2 2024 Earnings Conference Call December 21, 2023 5:00 PM ET Company Participants Paul Trussell - Vice President, Corporate Finance and Treasurer John Donahoe - President and Chief Executive Officer Matthew Friend - Chief Financial Officer Conference Call Participants Matthew Boss - JPMorgan Michael Binetti - Evercore ISI Gabriella Carbone - Deutsche Bank Lorraine Hutchinson - Bank of America John Kernan - TD Cowen Ike Boruchow - Wells Fargo Paul Lejuez - Citi Operator Good afternoon, ...

NIKE, Inc. (NYSE:NKE) Q2 2024 Earnings Conference Call December 21, 2023 5:00 PM ET Company Participants Paul Trussell - Vice President, Corporate Finance and Treasurer John Donahoe - President and Chief Executive Officer Matthew Friend - Chief Financial Officer Conference Call Participants Matthew Boss - JPMorgan Michael Binetti - Evercore ISI Gabriella Carbone - Deutsche Bank Lorraine Hutchinson - Bank of America John Kernan - TD Cowen Ike Boruchow - Wells Fargo Paul Lejuez - Citi Operator Good afternoon, ...

About this content About Andrew Kessel Andrew is a financial journalist with experience covering public companies in a wide breadth of industries, including tech, medicine, cryptocurrency, mining and retail. In addition to Proactive, he has been published in a Financial Times-owned newsletter covering broker-dealer firms and in the Columbia Misourian newspaper as the lead reporter focused on higher education. He got his start with an internship at Rolling Stone magazine.  Read more About the publisher Pr ...