Nike: exceeds expectations in Q4.
(CercleFinance.com) - Nike has announced solid results for Q4 2016-17 (to end-May), with EPS up 22% to 60 cents, while the consensus expected ten cents less.
Although the gross margin declined due to unfavourable currency fluctuations and higher product costs, revenues increased by 5% to 8.7 billion dollars, beating the consensus of 8.6 billion dollars.
Over the full year, the US sports goods giant saw its EPS increase by 16% to 2.51 dollars, on revenues that were up 6% at 34.4 billion dollars (+8% excluding currency effects).
"As expected, Nike's management guided to a FY18 outlook (“mid- to high-single-digit” FX-n) which is below its traditional guidance (HSD to low DD), pointing to unhelpful future orders," Bryan Garnier adds.
Alongside its results, Nike announced an agreement with online retail giant Amazon to begin marketing a "limited range" of Nike products on its sites in the US.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Although the gross margin declined due to unfavourable currency fluctuations and higher product costs, revenues increased by 5% to 8.7 billion dollars, beating the consensus of 8.6 billion dollars.
Over the full year, the US sports goods giant saw its EPS increase by 16% to 2.51 dollars, on revenues that were up 6% at 34.4 billion dollars (+8% excluding currency effects).
"As expected, Nike's management guided to a FY18 outlook (“mid- to high-single-digit” FX-n) which is below its traditional guidance (HSD to low DD), pointing to unhelpful future orders," Bryan Garnier adds.
Alongside its results, Nike announced an agreement with online retail giant Amazon to begin marketing a "limited range" of Nike products on its sites in the US.
Copyright (c) 2017 CercleFinance.com. All rights reserved.