Nike Looks To Get Back On Track After Big Q2

Nike Inc NKE is looking to get back on track.

The world’s biggest sportswear company reported a second quarter earnings and sales beat after Thursday'sa closing bell.

The Beaverton-based company reported second quarter earnings of 46 cents per share, beating estimates by 6 cents. Revenues came in at $8.6 billion, topping estimates by $200 million.

"This quarter, led by our Consumer Direct Offense, we accelerated international growth and built underlying momentum in our domestic business," said Mark Parker, Chairman, President and CEO. "For the back half of the fiscal year, NIKE's innovation line-up is as strong as it's ever been and we'll continue to actively shape retail through new differentiated experiences."

Click here to see the full results.

Q2 Highlights

  • NIKE brand revenues increased 4 percent
  • Converse Sales were down 4 percent
  • Demand creation expense up 15 percent to $877 million

At time of publication, shares were ticking a bit lower in the after-hours session. The stock closed at $64.77.

Photo credit: Emily Elconin

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsAfter-Hours CenterMoversMark Parker
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!