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News Breaks
December 20, 2012
12:07 EDTNKEEarnings Preview: Nike sees Q2 revenue growth in mid-high single digits
Nike (NKE) is expected to report Q2 earnings after the market close on Thursday, December 20 with a conference call scheduled for 5:00 pm ET. Analysts are looking for EPS of $1.00 on revenue of $5.99B. The consensus range is 97c-$1.04 for EPS and $5.89B-$6.2B for revenue, according to First Call. After reporting better than expected Q1 results, Nike guided Q2 revenue growth to be in the mid-high single digits and forecast margin expansion in 2H. On November 15, Nike announced a two-for-one stock split of both Class A and Class B common stock. Additionally, the company increased its quarterly dividend 17% to 21c per share on a post-split basis. Nike also announced it would sell its Cole Haan affiliate brand to Apax Partners for $570M. The transaction is expected to be completed in early 2013. Analysts and investors will listen for comments on plans to expand in Oregon, as it has pressed lawmakers to ensure that the state's corporate tax structure will not change for up to 40 years for companies that invest $150M in the state over five years and create 500 jobs. The company is also likely to comment on economic conditions in Europe, China and North America, as well as costs for packaging and other commodities. During the quarter, the stock was upgraded to Overweight from Neutral at HBSC and initiated with a Neutral at JPMorgan.
News For NKE From The Last 14 Days
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July 27, 2015
06:36 EDTNKENike to pay $2.4M to FuelBand customers, AppleInsider reports
Under terms agreed upon in June, Nike (NKE) will pay $2.4M to customers who purchased a FuelBand product anytime between January 19, 2012 and June 17, 2015 to settle a class action suit leveled against itself and Apple (AAPL) in 2013, AppleInsider reports. Apple was named as a defendant in the suit, but holds no responsibility or liability for attorneys' fees or costs, the report says. The plaintiffs alleged that the Fuelband was unable to accurately track calorie burn, steps, and overall activity, the report says. Reference Link

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