Supremo Remote Desktop Crack Latest Version. Nike shares had closed Monday down 2.7% but are up about 11% year to date, bringing its market cap to $248.5 billion.įind the full earnings press release from Nike here. Analysts had been forecasting a 2.5% lift. That would represent revenue growth of 5.7% year over year.įor the third quarter, Nike expects sales to grow a low-single-digit rate from the prior year, due to lingering effects from the Vietnam factory closures.
Last quarter, Nike slashed its revenue forecast for fiscal 2022 to account for longer transit times, labor shortages and prolonged production shutdowns in Vietnam, where Nike makes about half of its shoes.Īnalysts have been looking for Nike to report annual earnings of $3.59 per share on sales of $47.1 billion, according to Refinitiv data. The company backed its full-year outlook, which calls for mid-single-digit revenue growth. Nike said it expects supply chain costs for the fiscal year to be higher than it had anticipated three months ago, but declined to provide a specific estimate. to deliver next-generation experiences that involved RTFKT and Nike brands," said Donahoe on an earnings call. The company has increasingly pulled its goods out of wholesale channels, such as discount stores, and instead is selling more workout gear through its own website and stores.Įarlier this month, Nike announced it bought virtual sneaker company RTFKT for an undisclosed amount, making a bet on the metaverse." It had been filing trademarks indicating its intent to make and sell virtual Nike-branded shoes and apparel. Nike said its digital sales rose 12% year over year, while sales through Nike Direct were up 9%. But he said he expects to see sequential improvements in the region beginning in the third quarter. Ongoing Covid-related lockdowns in the country also made traffic patterns more volatile, he said.īMO Capital Markets analyst Simeon Siegel said that gauging the trajectory of consumer demand in China, a very important region for Nike, is going to be a top question for the business moving forward.įiscal 2022 will be a year of recovery for China, Friend said. Nike said that fewer items were sold in China during the latest quarter due, in part, to lost production from the Vietnam factory closures and lower available inventory. Western brands have faced some backlash in China amid global tensions. Nike's recovery in China has become a bigger focus for investors of late as the market remains key to the company's future growth. Sales in Greater China fell 20%, while revenue in its Europe, Middle East and Africa region grew 6%. Sales in North America, Nike's biggest market, climbed 12%, representing the highest growth of all geographies. Revenue rose 1% to $11.36 billion from $11.24 billion, outpacing estimates of $11.25 billion.
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