Terms of Use. Please fill out this field with valid email address. Digital volume jumped 82% last quarter to make up about 30% of the total business. node.dataset.value : node.getAttribute('data-value'); if (selectedValue) { for (var j = 0; j < node.options.length; j++) { if(node.options[j].value === selectedValue) { node.options[j].selected = 'selected';break;}}}}}, Do Not Sell My Personal Information (CA Residents Only). Related Gallery “Fueled by compelling innovative product and global brand momentum, we continue to extend our leadership. Nike on Friday reported quarterly sales and earnings that topped analysts' estimates, driven by triple-digit growth online in North America and strong demand for its sneakers and workout apparel from Chinese consumers.It was able to cut expenses as it spent less in marketing during sporting events due to the pandemic. The sportswear giant, and other athletic brands, have done well during the pandemic as consumers snap up leisurewear and workout gear. #TradeTalks: The Good and Bad News the Market Is Bracing for as 2020 Comes to a Close, 3 Psychedelic Stocks to Invest In the Future of Medicine, Why The Market Is Moving Lower Despite Vaccine, and What Investors Should Expect, var dom1 = document.querySelector('#form1783 #field1');var field1 = new LiveValidation(dom1, {validMessage: "", onlyOnBlur: false, wait: 300});field1.add(Validate.Presence, {failureMessage:"This field is required"});field1.add(Validate.Format, {pattern: /(^[A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~][A-Z0-9!#$%&'\*\+\-\/=\?\^_`\{\|\}~\.]{0,62}@(([A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])?)(\.[A-Z0-9](?:[A-Z0-9\-]{0,61}[A-Z0-9])? Nike stock heads toward record after earnings show a return to sales growth Last Updated: Dec. 19, 2020 at 9:38 a.m. “With healthy inventory positions across all geographies, our return to growth is a testament to our digital strength, as well as our disciplined marketplace and financial management,” Matt Friend, executive vice president and chief financial officer of Nike, said in a statement. The stock was on watch ahead of Nike's earnings report after the bell Friday, unusual … We'll find out on Friday whether the outlook for these metrics improved significantly over the last few months. Bright spots during the most recent quarter included the China business, where revenues grew 24 percent year-over-year, and the company’s e-commerce business, which surged 84 percent. “We believe Nike is best equipped to manage through the COVID-19 crisis with no damage to its brand equity and with an eye toward returning to a healthy pull market environment in nine to 12 months, just in time for key sporting events to resume,” Camilo Lyon, an analyst at BTIG, wrote in a note. Investors won't see much progress on that score in this report, because Nike had to work through some short-term inventory challenges related to COVID-19. Nike logged $1.2 billion in profits for the three-month period ending Nov. 30 as a result, up from $1.1 billion a year ago. Nike's revenue trends likely enjoyed other tailwinds, such as rising traffic on its digital shopping platforms and steadily improving sales at reopened stores. Nike Inc. reported a 23% dip in earnings for the third quarter of 2020 due to a transition charge of Brazil, Argentina, Chile and Uruguay businesses to a strategic distributor model as well as Covid-19 outbreak.The top line exceeded analysts’ expectations while the bottom line missed consensus estimates. @/i, failureMessage: "A valid email address is required", negate: "true"});var dom2 = document.querySelector('#form1783 #field2');var field2 = new LiveValidation(dom2, {validMessage: "", onlyOnBlur: false, wait: 300});field2.add(Validate.Presence, {failureMessage:"This field is required"});var dom5 = document.querySelector('#form1783 #field5');var field5 = new LiveValidation(dom5, {validMessage: "", onlyOnBlur: false, wait: 300});field5.add(Validate.Custom, {against: function(value) {return !value.match(/(telnet|ftp|https?):\/\/(?:[a-z0-9][a-z0-9-]{0,61}[a-z0-9]\.|[a-z0-9]\. 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By 2020, it's predicted to blast through the roof to $77.6 billion. They Are Wearing: Snow Day Style in New York City. https://www.nasdaq.com/articles/nike-earnings:-what-to-watch-2020-12-15 Net income plunged by 23% to $847 million or $0.53 per share. US IPO Week Ahead: The IPO market makes a holiday WISH in a 6 IPO week, Assessing Airbnb's (ABNB) Post-IPO Valuation, #TradeTalks: A Recap of 2020 Trade and What to Watch Heading Into 2021, #TradeTalks: #2021Outlook on the Housing and Real Estate Market. Nike (NKE) delivered earnings and revenue surprises of 23.81% and 6.54%, respectively, for the quarter ended November 2020. Nike Earnings on Friday with an Eye on Guidance, ... which seems bad enough until you note that the sector’s companies are expected to post earnings losses of 107% in 2020. These moves already appeared to be lifting sales and helping the company charge full price for its merchandise last quarter. AP. NIKE, Inc. (NYSE: NKE) plans to release its third quarter fiscal 2020 financial results on Tuesday, March 24, 2020, at approximately 1:15 p.m. PT, fol 'We Need an Exit Strategy,' London Retailers Tell British Government, As Technologies Evolve, Opportunities Abound for Beauty Brands, Jenna Lyons on Her LoveSeen False Eyelashes, upped its planned job cuts from 500 to 700 people, Philipp Plein Outspoken on Changes in Fashion, Company Adjustments. Dec 11, 2020 7:01PM EST Nike NKE is set to release its second quarter fiscal 2021 financial results on Friday, December 18. NIKE, Inc. (NYSE: NKE) plans to release its first quarter fiscal 2021 financial results on Tuesday, September 22, 2020, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. That's just one reason why investors will be watching the sportswear giant's upcoming quarterly announcement set for Dec. 18. In November, Nike upped its planned job cuts from 500 to 700 people in the Portland, Ore., headquarters. Friday, December 11, 2020 | MarketBeat NIKE (NYSE:NKE) is scheduled to post its quarterly earnings results after the market closes on Friday, December 18th. Create your Watchlist to save your favorite quotes on Nasdaq.com. Enter up to 25 symbols separated by spaces. Privacy Policy and For the three-month period ended Nov. 30, Nike reported net income of $1.25 billion, or 78 cents per share, up from $1.12 billion, or 70 cents a share, a year earlier. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. Shares shot up more than 5 percent in after-hours trading as a result. I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. That’s on top of $1.5 billion in profits the previous quarter. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. “Nike’s strong results during a dynamic environment show the power of staying on the offense,” said John Donahoe, president and chief executive officer of Nike. Donahoe pointed out on Friday evening’s conference call with analysts that last quarter was the company’s third straight quarter of roughly 80 percent digital growth. © 2020, Nasdaq, Inc. All Rights Reserved. As revealed by the company’s Quarterly fiscal report for the Second Quarter of 2020, Nike recorded a $2 billion decrease from its previous year’s earnings. NIKE, Inc. (NYSE: NKE) plans to release its fourth quarter fiscal 2020 financial results on Thursday, June 25, 2020, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. The company reported quarterly sales of $11.20 billion, which beat the analyst consensus estimate of $10.56 billion by 6%. The Beaverton, Ore.-based athletic apparel and accessories group revealed quarterly earnings Friday afternoon, improving on both top and bottom lines, led by strength online and in China. The Motley Fool has a disclosure policy. Revenue increased to $10.3 billion in the second quarter, up 10 percent on a reported basis and up 13 percent on a currency-neutral basis*, driven by strong growth across all geographies. Analysts expect NIKE to post earnings of $0.62 per share for the quarter. Nike raises full-year sales forecast, ... Dec 20, 2020. Investors that are interested in participating in the company's conference call can do so using this link. Nike shares popping after hours following its fiscal Q2 earnings report. The big question for investors this week is whether Nike stands by that timeline on Friday. Nike NKE reported quarterly earnings of 78 cents per share on Friday, which beat the analyst consensus estimate of 62 cents by 25.81%. *Stock Advisor returns as of November 20, 2020. (Below is Investopedia's original earnings preview, published September 21, 2020… The lower costs boosted profitability. Rival lululelmon athletica generates over 60% of its revenue from e-commerce, and that gap between the two companies underscores the potential for Nike to post years of rising profit margins as more of its business shifts away from the wholesale segment toward direct-to-consumer sales. NKE Chart by TradingView Video Transcript. Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. Nike delivers innovative products, experiences and services to inspire athletes. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. Nike raises full-year sales forecast, posts surprise earnings growth. The Motley Fool recommends Lululemon Athletica. That report included a quick return to growth in places like Europe and China, although revenue still ticked down in the core U.S. division while profitability declined. By subscribing, you agree to our Nike was also the number-one sports brand on, The strength online helped offset declines in the company’s wholesale business and Nike stores, many of which had reduced foot traffic as, Operating expenses rose 4 percent during the quarter to $2.5 billion, driven by about $135 million in investments in digital and restructuring-related costs. This is an 11.43% increase over earnings of 70 cents per share from the same period last year. Shares are up 6.2% since reporting last quarter Nike's first quarter performance was driven by strong sales growth in Nike's digital channels. NIKE annual and quarterly earnings per share history from 2006 to 2020. Do the numbers hold clues to what lies ahead for the stock? Nike shares hit a record high Friday before reversing lower. https://www.cnbc.com/2020/06/25/nike-nke-reports-q4-2020-earnings.html But even if executives sound a cautious note due to COVID-19 and risks around global economic growth, the odds are good that Nike will post a return to sales growth this quarter with a march toward record-high gross profit margin likely just getting started. Most consumer discretionary companies are seeing big shifts toward their online platforms, and Nike is no exception. Donahoe told investors back in September that Nike was laying the groundwork for a return to robust sales growth in late fiscal 2021, in part by focusing on high-demand products and raising its pace of footwear launches. Nike ended the quarter with $8.6 billion in cash and equivalents and $9.4 billion in long-term debt. These symbols will be available throughout the site during your session. Our strategy is working and we are excited for what’s ahead.”, A “smart sports field” inside the Nike flagship in Shanghai. Bright spots during the most recent quarter included the, Donahoe pointed out on Friday evening’s conference call with analysts that last quarter was the company’s third straight quarter of roughly 80 percent digital growth. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off. Yes! 10 stocks we like better than NikeWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. Nike jumped as much as 12% on Wednesday after the sportswear giant trounced expectations for fiscal first-quarter earnings and sales. )+[a-z]{2,63}/i);}, failureMessage: "Value must not contain any URL's"});field5.add(Validate.Presence, {failureMessage:"This field is required"});field5.add(Validate.Length, {tooShortMessage:"Invalid length for field value", tooLongMessage: "Invalid length for field value", minimum: 4, maximum: 4});function handleFormSubmit(ele) { var submitButton = ele.querySelector('input[type=submit]'); var spinner = document.createElement('span'); spinner.setAttribute('class', 'loader'); submitButton.setAttribute('disabled', true); submitButton.style.cursor = 'wait'; submitButton.parentNode.appendChild(spinner); return true; }function resetSubmitButton(e){ var submitButtons = e.target.form.getElementsByClassName('submit-button'); for(var i=0;i