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Nike Looks To Get Back On Track After Big Q2

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Nike Looks To Get Back On Track After Big Q2
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Nike Inc (NYSE: 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

Posted-In: Mark ParkerEarnings News After-Hours Center Movers Best of Benzinga

 

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