Nike Shares Plunged on Disappointing Guidance. Is This a Slam Dunk Opportunity to Buy the Stock? [Yahoo! Finance]
Nike, Inc. (NKE)
Last nike, inc. earnings: 3/24 04:15 pm
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investors.nike.com/home/default.aspx
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Source: Yahoo! Finance
The stock is now down about 30% year to date. These recent losses have extended Nike's decline since the stock hit its peak in 2021, and shares are down about 10% over the past five years. Let's take a look at Nike's most recent quarterly results and the issues it faces to determine whether this is a buying opportunity. Surprising guidance For its fiscal 2024 fourth quarter (ended May 31), Nike's sales declined 2% year over year to $12.6 billion. Nike brand revenue fell 1% to $12.1 billion, while Converse sales plunged 18% to $480 million. By selling channel, Nike direct revenue dropped 8% to $5.1 billion, and wholesale revenue rose 5% to $7.1 billion. However, the company still managed to expand its gross margin 110 basis points to 44.7%, helped by lower ocean freight costs and pricing changes. Management also reduced operating expenses with selling, general, and administration (SG&A) costs falling 7%. As a result, earnings per share (EPS) surged 50% to $0.99, despite the
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NKE
News
- Analyst: Adidas Is Benefitting From Nike's Latest Troubles [Yahoo! Finance]Yahoo! Finance
- Nike, Lululemon, Deckers: Top retail brands in focus [Yahoo! Finance Canada]Yahoo! Finance Canada
- Nike, Lululemon, Deckers: Top retail brands in focus Fri, Jul 5, 2024, 9:13 PM GMT+2 0 Video Transcript Advertisement Up next Middle-income families feel 'high level of stress' about savings Fri, Jul 5, 2024, 8:55 PM GMT+2 0 In this article: Video TransAcquire Media Monitor
- Levi & Korsinsky Reminds Shareholders of a Lead Plaintiff Deadline of August 19, 2024 in NIKE Lawsuit - NKEAccesswire
- Lost Money on NIKE, Inc.(NKE)? Join Class Action Suit Seeking Recovery - Contact Levi & KorsinskyAccesswire
NKE
Earnings
- 6/27/24 - Beat
NKE
Sec Filings
- 7/1/24 - Form 4
- 6/27/24 - Form 8-K
- 6/7/24 - Form 4
- NKE's page on the SEC website