Nike Sales Were Less Than Expected At Nike

Recently, Nike released third quarter earnings data, from the data we can see that revenue is less than expected.

Revenue rose 8% to $8 billion 30 million in the first three months of February 29th, but

Over the expected target, profits rose 20% to 950 million US dollars and diluted earnings per share by 55 cents.

Nike's earnings per share in the third quarter were 6 cents higher than analysts forecast 49 cents, but sales of $168 million were lower than analysts expected.

After the news, Nike shares fell 6% to $60.98 per share.

Nike CEO Mark Parker said that the foundation of the company's success and the biggest competitive advantage of the company is Nike's initiative. It enables Nike to accelerate growth and enhance the company's flexibility, while also allowing the company to go through many market fluctuations and maintain a sustainable business momentum.

Precisely because

Having the initiative, Nike is confident that it will bring more surprises to the market in the future.

Mark Parker stressed that the status of Nike is the best in history. Whether it is the management team or the creative team, it is the best talent in the industry. At this stage, the industry is changing very rapidly, and they will seize all the opportunities.

According to Mark Parker, Nike ID launched a series of new products and cooperation series last week to bring fresh elements to the market.

In addition, Nike admitted that Dave Dombrow, senior vice president of the design department of Under Armour, was hired by the company. The latter joined Under Armour in 2010 and served as senior vice president of design at UA, managing all the shoes and accessories of UA, such as the design team of NBA star Stephen.

He also served as a designer of Puma and GBMI, and worked as a designer of Nike from 2000 to 2003.

However, due to the non competition provisions in the industry, Dave will not take over the job until 2017.

Nike's gross profit margin in the third quarter was 45.9%, which was basically the same as the same period last year. The average retail price and the growth of retail business offset the impact of exchange rate.

Nike company

The company's global orders increased by 12% over the past year, excluding the exchange rate, which is 17% higher than last year, the company said.

The continuous growth of orders indicates that the power of Nike should not be underestimated. Even if the share price has dropped sharply on Tuesday, the market value of close to US $103 billion 900 million has kept Nike company firmly at the top of the sports brand.