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News Breaks | | | | March 20, 2013 | | 11:48 EDT |  | NKE | Earnings Preview: Nike sees Q3 sales growth in low double digits
Nike (NKE) is scheduled to report Q3 after the market close on Thursday, March 21, with a conference call scheduled for 5:00 pm ET. Nike is a leading innovator in athletic footwear, apparel, equipment and accessories... EXPECTATIONS: Analysts are looking for EPS of 67c on revenue of $6.23B, according to First Call. The consensus range for EPS is 64c-71c on revenue of $6.06B-$6.49B... LAST QUARTER: Nike reported Q2 EPS of $1.14 against estimates for $1.100 on revenue of $6B against estimates for $5.99B. The company said Q2 worldwide futures orders were up 6% and up 7% excluding currency changes. On the Q2 earnings conference call, Nike guided Q3 sales growth at a low double digit rate and Q4 sales growth at a low single digit rate. The company also forecast Q4 gross margin expansion of approximately 80bps and said it expected FY12 gross margin to be "essentially flat". During the quarter, Nike suspended its endorsement contract with South African Paralympian Oscar Pistorius after he was charged with the murder of his girlfriend, but the company's Golf unit signed a multi-year agreement with Rory McIlroy... STREET RESEARCH: BofA/Merrill expects Nike's global futures to be driven by price increases, momentum in basketball and strong running trends, increased Air Force 1 allocations, emerging markets growth, and strength in U.S apparel. Nike's revenue is poised to rise as a result of strong upcoming products and an expansion of the footwear maker's e-commerce initiative over the next several years, JP Morgan said after upgrading the stock to Overweight from Neutral. Meanwhile, margin increases should help the company increase its EPS to $4-$5 by FY16, an increase of about 50% over three years, the firm said. During the quarter, Nike was upgraded to Buy from Neutral at Citigroup and initiated with an Outperform rating at Cowen and a Neutral rating at Wedbush... PRICE ACTION: Over the last three months, Nike shares are up almost 10%. Ahead of earnings, shares are up over 1%. | |
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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 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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