Nike quarterly revenue surges, North America sales hit lower-than-expected
20.12.2019 - Kulakov Vladimir
Nike quarterly revenue surges, North America sales hit lower-than-expected

Nike Inc.’s quarterly revenue and profit figures went beyond Wall Street expectations on Thursday capped by surging sales in China. However, the leading footwear’s sales in North America are a letdown as it hit lower-than-expected figures to overshadow the beat.

Nike continues to struggle in North America as it faces tough competition from other brands including Adidas, Skechers, and VF Corp’s Vans.

Nike hit a 5.3% increase for $3.98 billion in the second quarter, compared to last year’s 9% rise. However, it missed Wall Street expectations of posting $4 billion.

“The comparisons are getting tougher in North America. It’s partially that – this recovery for the Nike brand started last year and it really accelerated (that time),” Cristina Fernandez, Telsey Advisory Group analyst said.

The world’s largest footwear maker also did not beat its gross margin, tallying 44%, compared to its 44.1% estimates. Incremental tariffs in North America impacted product costs in the region.

 

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from Umarkets.com or Market Solutions limited." Cookies notification: “We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Continue
×

Help with deposit?