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Nike: Q1 EPS up 1%
(CercleFinance.com) - On Thursday evening, Nike reported EPS of $0.
94 for Q1 2023-24, up 1%, with a gross margin that slipped 10bp to 44.2% on revenues of $12.9bn, up 2% as reported, excluding currency effects. NB: pmt +8%. The sporting goods supplier points out that its gross margin was mainly penalized by higher product costs and unfavorable currency trends, although this was largely offset by strategic pricing measures. Nike brand revenues rose by 3% in local currencies, with the decline in North America more than offset by growth in the other major regions of the world. Copyright (c) 2023 CercleFinance.com. All rights reserved. |
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