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News Breaks | | | | December 20, 2012 | | 12:07 EDT |  | NKE | Earnings 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. | |
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News For NKE From The Last 14 Days Check below for free stories on NKE the last two weeks. |
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| May 24, 2013 | | 12:01 EDT |  | NKE | Footwear shares slip after Foot Locker says sales flat this month
A number of footwear stocks are retreating after footwear retailer Foot Locker (FL) said its comparative sales were unchanged so far this month. WHAT'S NEW: Foot Locker reported slightly stronger than expected first quarter results earlier today, but stated that its sales at comparative stores were approximately flat so far this month, versus the same period in 2012. However, the retailer added that its comparative sales growth should accelerate in coming weeks. Moreover, Foot Locker stated that it continues to expect its sales to increase by mid single digit percentage levels this year. TODAY'S PRICE ACTION: In late morning trading, other footwear retailers dropped, with Finish Line (FINL) declining 2.3% to $21.10 and DSW (DSW) giving back 1.6% to $68.80. Nike (NKE) dropped 1.5% to $62.35, and Foot Locker slid 7% to $33.25. | | | May 21, 2013 | | 14:50 EDT |  | NKE | Wal-Mart among 19 large retailers to opt out of swipe fee deal, DJ reports
A group of 19 large retailers led by Wal-Mart (WMT) are opting out of a pending settlement with Visa (V) and MasterCard (MA) over swipe fees, reported Dow Jones, citing a statement from the companies. The group of merchants also includes Costco (COST), Starbucks (SBUX), Gap (GPS), Lowe's (LOW) and Nike (NKE), among others, and their announcement comes a week before a court deadline to object to and opt out of the proposed settlement, the report noted. Reference Link | | | May 14, 2013 | | 08:06 EDT |  | NKE | BofA/Merrill's retail analysts hold an analyst/industry conference call
Global Retail Team discusses key global athletic themes including industry trends, sourcing costs outlook and favorite investment ideas on an Analyst/Industry conference call. Relevant covered companies COLM, COST, DKS, FINL, FL, GES, JNY, NKE, PVH, RL, TGT, UA and WMT may be included on the Analyst/Industry conference call to be held on May 14 at 10 am. | | | 07:00 EDT |  | NKE | Nike price target raised to $75 from $65 at Barclays
Barclays expects Nike to return to gross margin expansion in Q3 and that the re-acceleration of futures in the U.S. and China will drive shares higher. The firm rates Nike an Overweight. | |
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