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Nike Posts Big Q4 Earnings Miss, Says 90% Of Stores Have Reopened

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Nike Posts Big Q4 Earnings Miss, Says 90% Of Stores Have Reopened

Nike (NYSE: NKE) posted a fourth-quarter loss of 51 cents per share Thursday, widely missing the analyst consensus estimate of positive 9 cents. 

Nike reported quarterly sales of $6.3 billion, which missed the analyst consensus estimate of $7.52 billion by 16.22%. 

As of Thursday, approximately 90% of Nike-owned stores are open globally. In Greater China, nearly 100% of Nike-owned stores are open, the company said. 

For the fiscal year, greater China revenues increased 11% on a currency-neutral basis, Nike said, 

"In a highly dynamic environment, the Nike Brand continues to resonate strongly with consumers all over the world as our digital business accelerates in every market," CEO John Donahoe said in a statement. 

Nike shares were down 4.04% at $97.30 in Thursday's after-hours session. The stock has a 52-week high of $105.62 and a 52-week low of $60.

Related Links:

Nike Reports Q3 Earnings Beat

Here's How Much Investing $100 In Nike Stock Back In 2010 Would Be Worth Today

Courtesy photo. 

 

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