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Nike: Highlights of This Week’s Earnings Report

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NIKE, Daily

Sportswear retailer #Nike Expected to report earnings on Tuesday, (20/12) The market closes. The report covers the fiscal quarter ending November 2022. According to its September 29th report, the company reported an EPS figure of $0.93This beat analyst consensus estimates by $0.91. NIKE has a net margin in excess of 11.96% A return on equity of 37.08%. The company generated revenue of $12.70 billion, which is compared to the consensus estimate of $12.28 billion. The company earned $2.4 billion during the same quarter in the previous year. $1.16 Per share. The company’s revenue for the quarter was up 3.7% Comparable to the same quarter in last year.

This time, #Nike The consensus is calling for a decrease in profits, with a projected decline of about 5%. 19% year-over-year, nearly matching last quarter’s decline and gross margin also expected to contract for the third straight period. The company’s earnings are likely to have been hit by the ongoing weakness in China and increased promotions due to oversupply. Nike and its competitors are working together to reduce warehouse stock levels that have built up due to supply chain bottlenecks.

China…



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