getmoreshares
4 months ago
Nike shares fell 14.04% in pre-market trading. Nike exceeded fourth-quarter fiscal earnings estimates with adjusted earnings of $1.01 per share, but sales of $12.6 billion fell short of expectations. Annual revenue of $51.4 billion also missed the $51.6 billion target, despite adjusted earnings of $3.95 per share surpassing forecasts of $3.70 per share. Nike predicted a surprising revenue decline for fiscal 2025, expecting a mid-single-digit percentage drop, against analystsβ expected increase of 0.91%. This is due to weakened demand for its sneakers, as it loses market share to newer brands like On and Hoka. Nike said it cut overstocked brands and invested in better running shoes, and plans new versions of the Air Max line. For the next quarter, Nike expects a revenue drop of about 10%. Due to Nikeβs unexpected fiscal 2025 revenue drop prediction, shares of JD Sports and Puma fell significantly, while Adidas shares saw a brief increase followed by a drop. Analysts expect Adidas to gain market share as Nike recalibrates its business until at least spring 2025.
eastunder
8 months ago
NIKE, Inc. Announces Third Quarter Fiscal 2024 Earnings and Conference Call
February 22, 2024 04:15 PM Eastern Standard Time
BEAVERTON, Ore.--(BUSINESS WIRE)--NIKE, Inc. (NYSE: NKE) plans to release its third quarter fiscal 2024 financial results on Thursday, March 21, 2024, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. Following the news release, NIKE, Inc. management will host a conference call beginning at 2:00 p.m. PT to review results.
The conference call will be broadcast live over the Internet and can be accessed at https://investors.nike.com/. For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, April 11, 2024.
About NIKE, Inc.
NIKE, Inc., headquartered in Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.βs earnings releases and other financial information are available on the Internet at https://investors.nike.com/. Individuals can also visit https://about.nike.com/ and follow NIKE on LinkedIn, Instagram and YouTube.