SGB Sports & Fitness

Nike Predicts North America Bounce Back

Nike Inc. surprised some investors by reporting lower-than-expected sales for its fiscal fourth quarter, ended May 31, despite barely beating expectations on earnings, as it was impacted in North America by tough year-ago comparisons due to last year’s West Coast port slowdown as well as the need to clean up excess inventories in the marketplace.

Trending: Basketball-focused Gyms?

PickUp USA Fitness, based in Irwindale, CA, launched its long-awaited basketball-focused gym franchise roughly six weeks ago, and reports indicate the concept could really take off.

Nike Q4 Beats on Earnings, Misses on Revenue

Nike Inc. reported flat earnings in its fourth quarter ended May 31 due in part to the need to reduce inventories in North America but results still came in a penny ahead of Wall Street’s consensus estimate. Revenues gained 6 percent to $8.2 billion and were up 9 percent on a currency-neutral basis. Worldwide futures were up 11 percent on a currency-neutral basis.