Report
Cedric Rossi

Luxury & Fashion: NIKE: Q4 earnings miss as CS underestimated the negative impact from the lockdown

Luxury & Fashion
NIKE: Q4 earnings miss as CS underestimated the negative impact from the lockdown

Q4 sales drop quite short of an over-optimistic CS…
… despite China and a very strong online channel (+ 79% FX-n)
Fall in profits reflect the significant Covid-19 impact
No specific FY21 guidance
Read-across to ADS: brace for a sharp GM decline in Q2?
Provider
Bryan Garnier
Bryan Garnier

Since 1996, Bryan, Garnier & Co has been growing with an absolute conviction that the investment banking landscape would experience a major revolution: most of the large local generalist banking groups will disappear to the benefit of a handful of global powerhouses, and an emerging group of independent, highly specialised boutique investment banks.

Analysts
Cedric Rossi

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