Nike, Inc. reported profits slipped 1 percent in the fiscal first quarter ended August 31. Sales grew 2 percent on a currency-neutral basis as double-digit gains in China helped offset a 1 percent decline in North America. Earnings came in well above analyst targets, but sales were slightly below.
Sales of $12.94 billion compared with the consensus target of $12.99 billion. EPS of 95 cents topped analysts’ consensus estimate of 74 cents. Gross margins of 44.2 percent exceeded the consensus target of 43.7 percent of sales.
For full details about the Nike CEO’s fiscal first quarter call with analysts, including regional and category business breakdowns and a positive outlook, go here:
EXEC: Nike Shares Surge as Meatier Q1 Margins, EPS Beat Offset Weaker NA Sales
