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Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. BEAVERTON, Ore., Dec. 19, 2019 – NIKE, Inc. (NYSE:NKE) today reported fiscal 2020 financial results for its second quarter ended November 30, 2019. But even if executives sound a cautious note due to COVID-19 and risks around global economic growth, the odds are good that Nike will post a return to sales growth this quarter with a march toward record-high gross profit margin likely just getting started. Donahoe told investors back in September that Nike was laying the groundwork for a return to robust sales growth in late fiscal 2021, in part by focusing on high-demand products and raising its pace of footwear launches. This is an 11.43% increase over earnings of 70 cents per share from the same period last year. “With healthy inventory positions across all geographies, our return to growth is a testament to our digital strength, as well as our disciplined marketplace and financial management,” Matt Friend, executive vice president and chief financial officer of Nike, said in a statement. US IPO Week Ahead: The IPO market makes a holiday WISH in a 6 IPO week, Assessing Airbnb's (ABNB) Post-IPO Valuation, #TradeTalks: A Recap of 2020 Trade and What to Watch Heading Into 2021, #TradeTalks: #2021Outlook on the Housing and Real Estate Market. Nike was also the number-one sports brand on Tmall during last month’s Singles’ Day, helping attract more than 4 million new members and half a billion dollars in digital demand. For the three-month period ended Nov. 30, Nike reported net income of $1.25 billion, or 78 cents per share, up from $1.12 billion, or 70 cents a share, a year earlier. Nike delivers innovative products, experiences and services to inspire athletes. Nike NKE reported quarterly earnings of 78 cents per share on Friday, which beat the analyst consensus estimate of 62 cents by 25.81%. Nike shares popping after hours following its fiscal Q2 earnings report. These symbols will be available throughout the site during your session. The strength online helped offset declines in the company’s wholesale business and Nike stores, many of which had reduced foot traffic as coronavirus cases continue to rise around the nation. Nike ended the quarter with $8.6 billion in cash and equivalents and $9.4 billion in long-term debt. Get all the top news stories and alerts straight to your inbox. Shares are up 6.2% since reporting last quarter David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Nike wasn't one of them! NIKE has a Zacks Rank #3 and an Earnings ESP of -7.02%. )+)$)/i, failureMessage: "A valid email address is required"});field1.add(Validate.Format, {pattern: /\.\.|\. © Copyright 2020  -  Penske Media Corporation. Net income plunged by 23% to $847 million or $0.53 per share. In November, Nike. AP. Three months ago, the apparel giant posted encouraging fiscal first-quarter results that showed a near-complete rebound following the sharp declines investors endured during COVID-19 retailing shutdowns. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. Earnings per share can be defined as a company's net earnings or losses attributable to common shareholders per diluted share base, which includes all convertible securities and debt, options and warrants. We'll find out on Friday whether the outlook for these metrics improved significantly over the last few months. node.dataset.value : node.getAttribute('data-value'); if (selectedValue) { for (var j = 0; j < node.options.length; j++) { if(node.options[j].value === selectedValue) { node.options[j].selected = 'selected';break;}}}}}, Do Not Sell My Personal Information (CA Residents Only). In November, Nike upped its planned job cuts from 500 to 700 people in the Portland, Ore., headquarters. Do the numbers hold clues to what lies ahead for the stock? Nike was also the number-one sports brand on, The strength online helped offset declines in the company’s wholesale business and Nike stores, many of which had reduced foot traffic as, Operating expenses rose 4 percent during the quarter to $2.5 billion, driven by about $135 million in investments in digital and restructuring-related costs. Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. Nike’s earnings between May 2019 and May 2020 is estimated at a total of $37.4 billion. Shares of Nike, which closed down 2.29 percent to $137.28 a piece Friday, are up 35.7 percent year-over-year. Donahoe pointed out on Friday evening’s conference call with analysts that last quarter was the company’s third straight quarter of roughly 80 percent digital growth. Nike shares hit a record high Friday before reversing lower. But management's outlook for the second half of the fiscal year should include the prospect for steadily rising gross margin, which will amplify earnings growth. You'll now be able to see real-time price and activity for your symbols on the My Quotes of Nasdaq.com. Terms of Use. Investors that are interested in participating in the company's conference call can do so using this link. Create your Watchlist to save your favorite quotes on Nasdaq.com. Friday, December 11, 2020 | MarketBeat NIKE (NYSE:NKE) is scheduled to post its quarterly earnings results after the market closes on Friday, December 18th. https://www.cnbc.com/2020/06/25/nike-nke-reports-q4-2020-earnings.html Outsmart the market with Smart Portfolio analytical tools powered by TipRanks. ET First Published: Dec. 18, 2020 at 4:32 p.m. The Motley Fool recommends Lululemon Athletica. These moves already appeared to be lifting sales and helping the company charge full price for its merchandise last quarter. Investors won't see much progress on that score in this report, because Nike had to work through some short-term inventory challenges related to COVID-19. Analysts expect NIKE to post earnings of $0.62 per share for the quarter. The big question for investors this week is whether Nike stands by that timeline on Friday. Estimates: Nike earnings per share are seen collapsing 97% to 2 cents, according to Zacks Investment Research.Revenue is seen … )+[a-z]{2,63}/i);}, failureMessage: "Value must not contain any URL's"});field5.add(Validate.Presence, {failureMessage:"This field is required"});field5.add(Validate.Length, {tooShortMessage:"Invalid length for field value", tooLongMessage: "Invalid length for field value", minimum: 4, maximum: 4});function handleFormSubmit(ele) { var submitButton = ele.querySelector('input[type=submit]'); var spinner = document.createElement('span'); spinner.setAttribute('class', 'loader'); submitButton.setAttribute('disabled', true); submitButton.style.cursor = 'wait'; submitButton.parentNode.appendChild(spinner); return true; }function resetSubmitButton(e){ var submitButtons = e.target.form.getElementsByClassName('submit-button'); for(var i=0;i

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