Companies and Brands
What to Expect When Nike Reports After the Close
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Nike Inc. (NYSE: NKE) is scheduled to release its fiscal first-quarter financial results after the markets close on Tuesday. The consensus estimates are calling for $0.70 in earnings per share (EPS) and $10.44 billion in revenue. The same period of last year reportedly had $0.67 in EPS and $9.95 billion in revenue.
Fiscal 2019 was a pivotal year for Nike, as it continues to bring its Consumer Direct Offense to life throughout the marketplace. Its distinctive innovation and digital advantage led to accelerated growth across its complete portfolio, while its Brand fueled deeper relationships with consumers around the globe.
In the fiscal fourth quarter, Nike brand revenues increased 10% to $9.7 billion on a currency-neutral basis, driven by growth across Nike Direct and wholesale, key categories including Sportswear, Jordan and Basketball, and continued growth across footwear and apparel.
At that time, revenues for the Converse segment were flat at $491 million, mainly driven by double-digit growth in Asia and Digital, which was offset by declines in the United States and Europe.
Overall, Nike has underperformed the broad markets, with its stock up about 18% year to date. In the past 52 weeks, the stock is up closer to 3%.
A few analysts weighed in on Nike ahead of the report:
Shares of Nike traded at $87.83 on Tuesday, in a 52-week range of $66.53 to $90.00. The consensus price target is $93.76.
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