Strong Q1, faster than expected recovery in NA
Nike reported Q1 EPS of $0.67 vs consensus $0.63 with in-line revenues. It was a strong quarter, delivering on the promised revenue and margin acceleration and indicating further trend strengthening. The stock was off 4% after hours, as it is difficult to beat the very high expectations, but Nike should remain a core investment on brand momentum and growth opportunities across all lines of business.NIKE is engaged in the design, development and marketing and selling of athletic footwear, apparel, equipment, accessories and services. The company focuses its NIKE Brand product offerings in Running, NIKE Basketball, the Jordan Brand, Football (Soccer), Training and Sportswear categories. The company markets products designed for kids, as well as for other athletic and recreational uses such as American football, baseball, cricket, golf, lacrosse, tennis, walking, and other outdoor activities. The company has license agreements that permit unaffiliated parties to manufacture and sell, using the company-owned trademarks, certain apparel, digital devices and applications and other equipment designed for sports activities.
Formed in 2003 by an established team from Cazenove, one of the most respected investment banks in the UK, Atlantic Equities conducts and publishes fundamental, bottom up research on mid and large cap US companies.
Atlantic provide order execution through a wide range of DMA products and algorithmic trading suites.
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