Core Viewpoint - Nike's Q4 FY24 earnings report revealed a 1% revenue growth year-over-year, but the company cut its full-year guidance, expecting mid-single-digit sales declines in FY25, leading to a significant drop in share price [2][11] Group 1: Financial Performance - Nike's total revenue for FY24 was $51.4 billion, with the Nike Brand contributing 96% and Converse 4%, while Converse saw a 15% decline year-over-year [3][4] - Nike Direct revenues accounted for 43.6% of total revenue, growing 1%, while wholesale revenue contributed 56.4%, growing 2% year-over-year [3][4] - Gross margins increased by 110 basis points to 44.6% in FY24, driven by strategic pricing and favorable logistics costs [7] - Diluted earnings per share (EPS) grew 15% year-over-year to $3.73, with SG&A expenses reduced by 7% year-over-year [7][8] Group 2: Product and Market Focus - The company is shifting its focus towards performance sports, with double-digit growth in basketball and fitness apparel, while lifestyle products have seen a decline [5][6] - Nike plans to accelerate innovation and reduce the number of lifestyle products to improve growth rates in that segment [11] - Digital sales declined across all geographies except China, impacting overall revenue growth [12] Group 3: Geographic Performance - North America revenue declined by 1%, while EMEA remained flat, and Greater China and Asia Pacific & Latin America grew by 8% and 5%, respectively [12] - North America contributed nearly 88% of total earnings before income taxes, growing 7% year-over-year [7] Group 4: Future Outlook - For FY25, Nike expects a mid-single-digit revenue decline as it navigates macroeconomic uncertainties and adjusts its product cycle [14] - The company anticipates slight improvements in gross margins and a modest increase in SG&A expenses as it invests in demand creation [15] - Projected diluted EPS for FY27 is $4.66, with a present value of $3.85 when discounted at 10% [17]

Loading...Loading...Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our analyst ratings page.JP Morgan analyst Matthew Boss downgraded NIKE, Inc. NKE from Overweight to Neutral, while cutting the price target from $116 to $83. Nike shares gained 0.1% to close at $94.19 on Thursday. See how other analysts view this stock.Argus Research analyst David Toung downgraded the rating for ...

Robert WayShares in sneaker giant, Nike (NYSE:NKE), were pummeled in the aftermarket hours on Thursday following the release of its fiscal Q4 earnings results. The stock dropped about 12% after pairing a forward guidance cut with an underwhelming sales report. Heading into the release, shares were already down 17% over the past year, including a 13% loss YTD. The added selling pressure in the after-hours session pulled shares down to a pricing level last seen four years ago during the start of the COVID ...

NEW YORK, June 28, 2024 /PRNewswire/ -- The Gross Law Firm issues the following notice to shareholders of NIKE, Inc. (NYSE: NKE).Shareholders who purchased shares of NKE during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery.CONTACT US HERE:https://securitiesclasslaw.com/securities/nike-loss-submission-form/?id=87812&from=4CLASS PERIOD: March 19, 2021 to March 21, 2024 ALLEGATIO ...

Amid Nike (NYSE: NKE) posting a more significant sales decline than expected for the fiscal year of 2025, NKE shares have started to tumble, and certain Wall Street analysts have updated their NKE stock price expectations following the earnings report or in the days leading up to it.Indeed, some finance experts had expected impressive results from Nike, which is why they upgraded their price targets ahead of the earnings call in combination with other factors, whereas others downgraded NKE stocks in respons ...

Key TakeawaysNike shares dropped more than 12% in extended trading on Thursday after the company reported weaker-than-expected quarterly revenue and cut its sales outlook.The stock sits poised to break down from a rising wedge pattern.A measured move in Nike shares, which we calculate by subtracting the distance of the downtrend preceding the rising wedge from the pattern's lower trendline, projects a price target of $75.It's also worth monitoring if a prominent swing low that formed on the chart in October ...

For the quarter ended May 2024, Nike (NKE) reported revenue of $12.61 billion, down 1.7% over the same period last year. EPS came in at $1.01, compared to $0.66 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $12.88 billion, representing a surprise of -2.13%. The company delivered an EPS surprise of +18.82%, with the consensus EPS estimate being $0.85.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectat ...

Nike on Thursday forecast a surprise drop in fiscal 2025 sales, after disappointing fourth-quarter sales laid bare the company’s weakening market share and its faltering direct-to-consumer strategy.Shares of the company were down 12% in extended trading after Nike also forecast a wider-than-expected drop in first-quarter revenue.The company’s efforts to drive more sales through its direct-to-consumer channel have failed to reap rewards as customers turn more picky about non-essential spending and splurge on ...

Thursday, June 27th, 2024Market indices closed in the green today. Not by much — except for the small-cap Russell 2000, which was up +0.76% — but it’s a winning session nevertheless. The Dow gained +0.09% (following +0.04% yesterday), a mere +36 points. The S&P 500 was also up +0.09% today, while the Nasdaq gained another +53 points, or +0.30%. Bond yield rates reflect a confidence that an easing of interest rates is on the horizon: the 10-year is at +4.288% and the 2-year (still inverted) hit +4.714%.Pendi ...

NIKE, Inc. (NYSE:NKE) Q4 2024 Earnings Call Transcript June 27, 2024 5:00 AM ET Company Participants Paul Trussell - VP, Corporate Finance and Treasurer John Donahoe - President and CEO Matthew Friend - CFO Conference Call Participants Matthew Boss - JPMorgan Lorraine Hutchinson - Bank of America Robert Drbul - Guggenheim Securities Adrienne Yih - Barclays Brooke Roach - Goldman Sachs Michael Binetti - Evercore ISI Aneesha Sherman - Bernstein Operator Good afternoon, everyone. Welcome to NIKE, Inc.'s Fiscal ...