New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 27, 2014
11:04 EDTNKE, FINL, FL, DKS, MAthletic footwear companies rise after earnings run past expectations
Shares of athletic apparel and footwear giant Nike (NKE) and sports shoe retailer Finish Line (FINL) are climbing after both companies reported better than expected quarterly sales and profits. NIKE: Nike's Q4 earnings per share of 78c beat analysts' consensus forecast by 3c while its revenue of $7.4B topped expectations of $7.34B. Nike's Q4 worldwide futures orders rose 11% compared to the prior year's quarter to $13.3B, or 12% higher on a currency neutral basis. Inventories as of May 31 for Nike were up 13% to $3.9B. The retailer reported that its Q4 gross margin expanded 170 basis points to 45.6%, with the increase being primarily attributable to higher average selling prices and continued growth in the higher margin Direct to Consumer business. During Nike's earnings conference call, the company said it sees FY15 China revenue growth up in the high-single digit range and faster revenue growth in Q1. Nike said that it anticipates FY15 revenue growth at a high single digit rate and expects Q1 reported revenue to grow at a low double digit rate. FINISH LINE: Finish Line reported that its Q1 EPS excluding certain items was 28c, which was 7c higher than analysts' consensus view. The company's Q1 revenue of $406.5M topped analysts' expectations of $394.5M. Finish Line reported that its Q1 same-store sales were up 5% and that it expects FY15 SSS to be up in the mid single digits. The retailer said it expects its FY15 EPS to increase in the high single to low double digit range over FY14 non-GAAP diluted EPS of $1.66. During Finish Line's earnings conference call, the company said that it feels "comfortable" with the upper end of it annual guidance range and it is "bullish" about its Macy's (M) business. The retailer sees the Macy's deal to be slightly accretive for this year. Finish Line noted that it feels "comfortable" with current Q2 EPS estimates. Consensus for Q2 EPS stands at 21c. The company believes comps to date in June are up in the low single digits, but Finish Line said that it foresees July and August to be stronger and it anticipates double digit earnings growth on a long-term basis. OTHERS TO WATCH: Rivals to Finish Line in the athletic market that also sell Nike products include Foot Locker (FL) and Dick's Sporting Goods (DKS). PRICE ACTION: During morning trading, Dow member Nike was up $1.43 or 1.9%, to $78.29 and Finish Line was up 93c, or 3.2%, to $30.08. Meanwhile, Foot Locker rose $1.38, or 2.8% to $50.69 and shares of Dicks were up 0.4% to $45.78.
News For NKE;FINL;FL;DKS;M From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 23, 2014
13:02 EDTDKSCabela's tumbles after results, guidance miss expectations
Subscribe for More Information
09:22 EDTNKENike CEO 'bullish' on partnership with Apple
Nike (NKE) CEO Mark Parker made comments in an interview on Bloomberg TV. Reference Link
08:41 EDTMBuild-A-Bear partners with Macy's to open shop-in-shop locations for holidays
Subscribe for More Information
October 22, 2014
13:54 EDTNKENike expects womens business to reach $7B in revenue by FY17
Subscribe for More Information
October 21, 2014
07:32 EDTFINLFinish Line names Samuel Sato as president
Subscribe for More Information
October 20, 2014
08:11 EDTFINLFinish Line management to meet with Deutsche Bank
Meeting to be held in New York on October 20 hosted by Deutsche Bank.
06:47 EDTDKSDick's Sporting shares have value at current levels, says Deutsche Bank
Subscribe for More Information
October 17, 2014
06:14 EDTFLFoot Locker pullback a buying opportunity, says Citigroup
Subscribe for More Information
October 15, 2014
10:02 EDTNKEOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
08:28 EDTNKENike upgraded to Conviction Buy from Buy at Goldman
Subscribe for More Information
06:12 EDTNKENike's Converse sues rivals over 'copycat' design, NY Post reports
Converse, a unit of Nike (NKE), is suing rivals including Ralph Lauren (RL) and Tory Burch, alleging that shoemakers and retailers are copying its iconic design, the New York Post reports. Lawyers for Converse say "We welcome fair competition, but we do not believe companies have a right to copy the trademarked look." The lawsuit seeks unspecified damages and injunctions that would bar the production of the rival shoe models. Reference Link
October 14, 2014
14:17 EDTMMacy's to open 2 hours earlier for Thanksgiving this year, CNN reports
Subscribe for More Information
October 13, 2014
10:06 EDTMJ.C. Penney rises after selecting Home Depot executive as next CEO
Subscribe for More Information
06:15 EDTMJ.C. Penney downgraded to Sell from Neutral at UBS
UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use