Consumer durables: Nike Q1 FY19 earnings: gradual recovery in North America
Consumer durablesNike Q1 FY19 earnings: gradual recovery in North America
Nike has unveiled Q1 revenues (ending August) of USD9.95bn that were slightly above CS forecasts (USD9.93bn), representing a FX-n growth of 9%. NIKE brand has accelerated to 10% FX-n after +3% in Q4 FY18 thanks to a strong performance in China (+20%) and a sequential improvement in North America (+6% vs. +3% in Q4), although momentum remains in favour of ADS (+17% for ADS brand). Diluted EPS amounted to 67¢ and topped expectations of 63¢. For FY19, NIKE reiterates its sales guidance (high single-digit growth vs. CS of ~+8%).
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.
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