Citi Provides Nike Earnings Preview
Nike (NYSE: NKE) fourth quarter earnings are scheduled to be released on June 26, 2014.
Citi published a preview for Nike's Q4 2014 performance by reiterating a Buy rating and calculating an expected $0.77 earnings per share.
Citi analyst Kate McShane cited the reiteration was based on global secular story-driving growth. McShane commented that after recent meetings she had with management of Nike, they were indicating toward continuing to be highly focused and strategic in their growth strategy.
McShane believes Nike's plan to concentrate in Europe and China will be successful in returning better turnover and lower inventory risk.
McShane expects guidance to improve as a result from the World Cup, commentary regarding the pipeline, as well as the Europe and China plan. McShane also notes that Nike has continued to return cash through its dividend and $1.7 billion in buybacks for the year-to-date.
Nike shares were last trading down 0.41 percent to $74.83.
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