Nike Moving Lower Post-Earnings

Filed under: Earnings Reports, NIKE, Inc'B' (NKE)

As promised, Nike, Inc. (NKE) reported earnings after the close today, and it was a bit of good news, and a bit of bad news. Net income at the athletic apparel giant rose to $1.06 per share, a 53% rise from year-ago results. Sales were up 8% to $5.1 billion. These numbers, respectively, were just above and just below analysts' estimates for per-share results of $1.05 on $5.14 billion in revenue (according to Thomson Reuters).



Orders in North America rose 8%, while orders rose 19% in Greater China and jumped 30% in emerging markets. Estimates for global future orders rose 7% to $8.8 billion and rose 10% excluding currency charges. While this momentum in China and elsewhere helped buoy profits, higher labor wages and an appreciating yuan in the People's Republic may be a detriment in the coming months, according to analysts.

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Nike Moving Lower Post-Earnings originally appeared on BloggingStocks on Wed, 23 Jun 2010 18:30:00 EST. Please see our terms for use of feeds.

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Thomson Reuters - Nike - BloggingStocks - Net income - Emerging markets

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