NIKE (NKE) Earnings Miss Estimates In Q4, Revenues Beat
Zacks Investment Research | Jun 28, 2019 08:22AM ET
NIKE Inc. (NYSE:NKE) delivered fourth-quarter fiscal 2019 results, wherein earnings missed estimates while sales beat the same. The reported quarter reflected revenue growth, backed by strength in Wholesale and NIKE Direct businesses as well as solid execution of Consumer Direct Offense, which led to growth across all regions.
Shares of NIKE did not react much to the earnings outcome. Overall, this Zacks Rank #3 (Hold) stock has gained 4.3% in the past year, outperforming the industry ’s 2.4% growth.
Earnings & Revenues
In the reported quarter, this athletic apparel, footwear and accessory retailer’s earnings of 62 cents per share declined nearly 10% from the prior-year quarter and missed the Zacks Consensus Estimate of 66 cents. This marked a miss after 28 straight quarters of bottom-line beat. While earnings gained from solid sales growth, improved gross margin and lower average share count; higher selling and administrative expenses and tax rate were deterrents.
NIKE, Inc. Price, Consensus and EPS Surprise
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