Global sales of the sportswear group are above expectations Nike, which reported fiscal fourth-quarter earnings and revenue above analysts' estimates.
In the period ending May 31st, Nike scored earnings of $668 million, up 22% compared to 549 million in the same period of the previous year. In terms of earnings per share, the result moved to 73 cents per share from 59 cents. Net of extraordinary items, the figure rose to 76 from 60 cents, better than the 74 cents expected by the market.
I revenues they grew 7,4% to $6,7 billion. Gross margins increased to 43,9% from 42,8%. In particular, the revenues of the Nike brand saw +8%, excluding the impact of foreign exchange.
In Western Europe the figure remained unchanged while in the so-called "Greater China" revenues fell by 1%. It is on this market that analysts will focus. Future orders for Nike-branded products – a gauge of business growth trends – rose 8% globally versus 7% a year earlier. In China - a key market for the group - the increase stopped at 3%, but excluding currency fluctuations the figure is flat.
However, investors preferred to celebrate. While waiting for the accounts, published yesterday after the closure of Wall Street, the Nike stock recorded a +0,76%, to 62,32 dollars. In the after-hours it came to earn more than 3%.
