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Tag: NKE

  • LVW Advisors LLC Has $298,000 Position in NIKE, Inc. (NYSE:NKE)

    LVW Advisors LLC Has $298,000 Position in NIKE, Inc. (NYSE:NKE)

    LVW Advisors LLC cut its position in shares of NIKE, Inc. (NYSE:NKE – Free Report) by 17.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,373 shares of the footwear maker’s stock after selling 717 shares during the quarter. LVW Advisors LLC’s holdings in NIKE were worth $298,000 at the end of the most recent quarter.

    Several other large investors have also recently added to or reduced their stakes in NKE. Spartan Planning & Wealth Management bought a new stake in shares of NIKE during the fourth quarter valued at approximately $182,000. Advisors Asset Management Inc. raised its stake in shares of NIKE by 86.0% in the 1st quarter. Advisors Asset Management Inc. now owns 20,957 shares of the footwear maker’s stock valued at $1,970,000 after buying an additional 9,689 shares in the last quarter. FORA Capital LLC bought a new position in shares of NIKE during the 1st quarter worth about $3,412,000. Cetera Advisors LLC boosted its position in shares of NIKE by 85.5% during the 1st quarter. Cetera Advisors LLC now owns 88,299 shares of the footwear maker’s stock valued at $8,298,000 after acquiring an additional 40,704 shares in the last quarter. Finally, Koshinski Asset Management Inc. acquired a new position in NIKE in the first quarter worth about $713,000. Institutional investors and hedge funds own 64.25% of the company’s stock.

    Insider Activity at NIKE

    In other news, Chairman Mark G. Parker sold 52,487 shares of NIKE stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $78.00, for a total transaction of $4,093,986.00. Following the transaction, the chairman now directly owns 1,031,226 shares of the company’s stock, valued at $80,435,628. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NIKE news, Chairman Mark G. Parker sold 110,000 shares of the stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $72.97, for a total value of $8,026,700.00. Following the completion of the sale, the chairman now directly owns 1,102,090 shares in the company, valued at $80,419,507.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Mark G. Parker sold 52,487 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $78.00, for a total value of $4,093,986.00. Following the sale, the chairman now directly owns 1,031,226 shares in the company, valued at approximately $80,435,628. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.50% of the company’s stock.

    NIKE Stock Performance

    Shares of NIKE stock opened at $82.15 on Friday. The firm has a fifty day moving average of $81.66 and a two-hundred day moving average of $85.64. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.58 and a current ratio of 2.36. The stock has a market capitalization of $123.99 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.96 and a beta of 1.02. NIKE, Inc. has a 52 week low of $70.75 and a 52 week high of $123.39.

    NIKE (NYSE:NKE – Get Free Report) last released its earnings results on Tuesday, October 1st. The footwear maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.18. The firm had revenue of $11.59 billion for the quarter, compared to analyst estimates of $11.64 billion. NIKE had a return on equity of 39.84% and a net margin of 10.60%. The company’s quarterly revenue was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.94 earnings per share. As a group, equities research analysts predict that NIKE, Inc. will post 2.8 EPS for the current year.

    NIKE Dividend Announcement

    The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Tuesday, September 3rd were paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, September 3rd. NIKE’s payout ratio is 39.68%.

    Wall Street Analyst Weigh In

    NKE has been the topic of a number of recent research reports. Robert W. Baird lifted their price objective on NIKE from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Daiwa America cut NIKE from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, September 11th. Barclays cut their price objective on NIKE from $84.00 to $81.00 and set an “equal weight” rating for the company in a report on Wednesday, October 2nd. Stifel Nicolaus lowered their target price on shares of NIKE from $88.00 to $79.00 and set a “hold” rating on the stock in a report on Monday, August 26th. Finally, Truist Financial raised shares of NIKE from a “hold” rating to a “buy” rating and lifted their price target for the company from $83.00 to $97.00 in a report on Thursday. Fourteen analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $96.56.

    Read Our Latest Report on NKE

    NIKE Profile

    (Free Report)

    NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.

    Further Reading

    Want to see what other hedge funds are holding NKE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NIKE, Inc. (NYSE:NKE – Free Report).

    Institutional Ownership by Quarter for NIKE (NYSE:NKE)

    Receive News & Ratings for NIKE Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NIKE and related companies with MarketBeat.com’s FREE daily email newsletter.

    ABMN Staff

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  • Mount Yale Investment Advisors LLC Sells 1,096 Shares of NIKE, Inc. (NYSE:NKE)

    Mount Yale Investment Advisors LLC Sells 1,096 Shares of NIKE, Inc. (NYSE:NKE)

    Mount Yale Investment Advisors LLC reduced its position in NIKE, Inc. (NYSE:NKE – Free Report) by 33.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,134 shares of the footwear maker’s stock after selling 1,096 shares during the period. Mount Yale Investment Advisors LLC’s holdings in NIKE were worth $204,000 as of its most recent SEC filing.

    Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Marquette Asset Management LLC raised its stake in NIKE by 201.3% in the 2nd quarter. Marquette Asset Management LLC now owns 241 shares of the footwear maker’s stock valued at $27,000 after acquiring an additional 161 shares during the period. Tucker Asset Management LLC bought a new stake in shares of NIKE during the first quarter valued at about $29,000. Horizon Bancorp Inc. IN bought a new stake in shares of NIKE during the second quarter valued at about $29,000. Financial Freedom LLC bought a new stake in shares of NIKE during the fourth quarter valued at about $29,000. Finally, Worth Asset Management LLC bought a new stake in shares of NIKE during the first quarter valued at about $32,000. 63.42% of the stock is currently owned by institutional investors.

    NIKE Stock Performance

    NYSE:NKE opened at $108.03 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.84 and a current ratio of 2.87. The firm has a market cap of $164.41 billion, a PE ratio of 33.34, a price-to-earnings-growth ratio of 1.95 and a beta of 1.07. The business has a 50 day moving average price of $109.49 and a 200-day moving average price of $105.76. NIKE, Inc. has a fifty-two week low of $88.66 and a fifty-two week high of $131.31.

    NIKE (NYSE:NKE – Get Free Report) last announced its earnings results on Thursday, December 21st. The footwear maker reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.19. The company had revenue of $13.40 billion during the quarter, compared to the consensus estimate of $13.39 billion. NIKE had a return on equity of 34.97% and a net margin of 9.82%. The firm’s revenue for the quarter was up .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. Equities research analysts predict that NIKE, Inc. will post 3.75 earnings per share for the current year.

    NIKE Increases Dividend

    The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 4th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, December 1st. This is an increase from NIKE’s previous quarterly dividend of $0.34. NIKE’s dividend payout ratio is currently 45.68%.

    Analyst Upgrades and Downgrades

    Several brokerages have recently weighed in on NKE. Truist Financial decreased their price target on NIKE from $108.00 to $107.00 and set a “hold” rating on the stock in a research report on Friday. Piper Sandler decreased their price target on NIKE from $112.00 to $107.00 and set a “neutral” rating on the stock in a research report on Friday. Guggenheim reiterated a “buy” rating and set a $135.00 price target on shares of NIKE in a research report on Friday, September 22nd. Bank of America cut their price objective on NIKE from $125.00 to $110.00 in a report on Wednesday, September 20th. Finally, Evercore ISI started coverage on NIKE in a report on Tuesday, November 7th. They set an “outperform” rating and a $124.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $123.94.

    Read Our Latest Stock Report on NKE

    Insider Activity at NIKE

    In other NIKE news, Director Robert Holmes Swan bought 13,072 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was bought at an average price of $96.13 per share, for a total transaction of $1,256,611.36. Following the completion of the acquisition, the director now directly owns 18,005 shares in the company, valued at $1,730,820.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other NIKE news, EVP Monique S. Matheson sold 10,000 shares of the stock in a transaction on Monday, December 11th. The stock was sold at an average price of $119.00, for a total value of $1,190,000.00. Following the completion of the transaction, the executive vice president now owns 44,736 shares in the company, valued at $5,323,584. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Holmes Swan acquired 13,072 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was purchased at an average price of $96.13 per share, with a total value of $1,256,611.36. Following the acquisition, the director now owns 18,005 shares of the company’s stock, valued at approximately $1,730,820.65. The disclosure for this purchase can be found here. 0.50% of the stock is owned by corporate insiders.

    NIKE Profile

    (Free Report)

    NIKE, Inc, together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks.

    Featured Stories

    Institutional Ownership by Quarter for NIKE (NYSE:NKE)

    Receive News & Ratings for NIKE Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NIKE and related companies with MarketBeat.com’s FREE daily email newsletter.

    ABMN Staff

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  • Nike says 'newness' is crucial to its growth. One analyst says it's not working

    Nike says 'newness' is crucial to its growth. One analyst says it's not working

    As sneaker makers try to stay relevant amid waning demand, Nike Inc. executives on Thursday said they were banking on “newness and innovation” to win over reluctant shoppers. And as sales deals on shoes proliferate, they said interest in its sneakers that cost over $100 is still solid, and that an expansion of its Jordan brand — beyond basketball gear and shoes — represents an opportunity to boost profits.

    But one analyst on Friday cast doubt over whether those plans will work for all of Nike’s
    NKE,
    -11.83%
    customers in the long term.

    “Nike needs improved marketing outside of basketball, streetwear and lifestyle trends,” TD Cowen analyst John Kernan said in a research note on Friday. “Innovation at the higher end of its assortment is not resonating at scale while . . . Nike faces disruption from smaller competitors in footwear and apparel. Jordan brand moving into lower price points and away from a scarcity model creates risk to the fastest-growing piece of the business.”

    That assessment came after Nike’s quarterly results and dimmer outlook after the market close on Thursday sent shares reeling. Management said that consumers were still cautious, as higher prices for essential goods siphon away what they can spend on new sneakers and clothes.

    Following the results, TD Cowen analysts on Friday downgraded the stock to their version of a hold rating. CFRA, meanwhile, also lowered its opinion on the stock to sell from hold.

    Shares of Nike were down 11.6% on Friday.

    During Nike’s fiscal second quarter, sales trends were shaky in both the athletic-gear maker’s digital channels and its markets abroad, executives said Thursday. In North America, sales slipped 4% year over year. For the holidays, sales were softer outside of the big discount days like Black Friday and Cyber Monday. And competition from the likes of Adidas
    ADDYY,
    -5.55%    ,
    Deckers Brands
    DECK,
    -1.48%
    subsidiary Hoka One One and running-shoe maker On Holding
    ONON,
    -3.71%
    hasn’t gone anywhere.

    Nike’s results, Kernan said, were a sign that Wall Street’s profit estimates were too high for Adidas and other competitors like Vans owner VF Corp.
    VFC,
    -3.23%
    and Under Armour
    UA,
    -3.52%    .

    On the company’s earnings call Thursday, Nike said it didn’t plan on getting sucked into a “race to the bottom on digital,” where weaker online traffic forced more markdowns. But like Kernan, Raymond James analyst Rick Patel also had questions about Nike’s efforts to push full-priced product.

    “Nike noted that it intends to focus on full-price selling and doesn’t want to participate in aggressive discounting,” he said. “Also, it aims to manage inventories for key franchises more carefully going forward in order to avoid the promotional fray, which also limits sales growth. We view these as the right moves to protect the health of the brand, but also acknowledge that it leaves Nike at a near-term competitive disadvantage to drive revenue.”

    CFRA analyst Zachary Warring, in emailed commentary, said some of Nike’s other rivals could cut into demand.

    “Although Nike maintains a fortress balance sheet with significant capital returns, we believe the multiple will trend back down to pre-pandemic levels as the company faces competition from brands like Hoka and On [Holding] while it looks for new growth drivers and focuses on cutting costs,” Warring said.

    Nike executives on Thursday said Jordan-branded clothing and products for golf, soccer and football, along with products for women and children, would bring stronger results. They said the same for bras, leggings, retro-themed running shoes and other offerings in its business geared toward women.

    The company also announced plans to save up to $2 billion over the next three years. That savings effort, it said, could include simplifying its product selection, bringing more automation into its operations, and “streamlining” the company by shedding management layers.

    Nike has reportedly already begun laying off workers. The company on Thursday said it expected to book pre-tax restructuring charges of around $400 million to $450 million “primarily associated with employee-severance costs.”

    Nike plans to reinvest those savings back into the company. But as the company tries to fatten margins, Jefferies analyst Randal Konik said those reinvestments could do the opposite.

    “We would expect [management] to reinvest a majority of these cost savings, likely leaving less margin and earnings ‘cushion’ should top-line performance continue to soften over the next 6-12 months,” he said.

    In recent years, Nike has been trying to sell fewer items through outside retail chains and more through its own stores and online channels. But executives on Thursday said that multiyear effort had created “complexity and inefficiencies”

    Edward Jones analyst Brian Yarbrough told MarketWatch that Nike is likely cutting costs after weighing the broader economic backdrop and weakness in its digital business against its sales and margin goals.

    “Combined with a slower revenue-growth environment — and the fact that digital, which is their more profitable channel, is slowing and in some markets declining — I think they probably said, ‘If we’re going to get there, it’s probably going to have to come with some cost cuts,’” Yarbrough said.

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  • NKE Stock Price | Nike Inc. Cl B Stock Quote (U.S.: NYSE) | MarketWatch

    NKE Stock Price | Nike Inc. Cl B Stock Quote (U.S.: NYSE) | MarketWatch

    NIKE, Inc. engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate. The North America, Europe, Middle East & Africa, Greater China, and Asia Pacific & Latin America segments refer to the design, development, marketing, and selling of athletic footwear, apparel, and equipment. The Global Brand Divisions represent its NIKE Brand licensing businesses. The Converse segment designs, markets, licenses, and sells casual sneakers, apparel, and accessories. The Corporate segment consists of unallocated general and administrative expenses. The company was founded by William Jay Bowerman and Philip H. Knight on January 25, 1964, and is headquartered in Beaverton, OR.

    Tomi Kilgore

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  • Nike shares dive, company eyes $2 billion in cost cuts amid 'softer' outlook

    Nike shares dive, company eyes $2 billion in cost cuts amid 'softer' outlook

    Shares of Nike Inc. tumbled after hours Thursday after the athletic-gear giant warned of a “softer second-half revenue outlook” on its quarterly earnings call, and said it is targeting up to $2 billion in cost cuts over the next three years as it looks to shed management and focus on women customers and its Jordan brand.

    Nike
    NKE,
    +0.91%
    said that the savings could come from simplifying its product selection and using more automation and technology. But the athletic-gear giant has also reportedly begun to lay workers off, and said it expected to book pre-tax restructuring charges of around $400 million to $450 million, much of it in the company’s fiscal third quarter, “primarily associated with employee-severance costs.”

    Nike did not immediately respond to questions about job cuts at the company, or how many staff have been or could be laid off. But on the company’s earnings call, management said its plans included “reducing management layers.”

    In Nike’s earnings release, Chief Financial Officer Matthew Friend said the company’s fiscal second quarter — in which per-share profit beat expectations while sales were roughly in line — marked “a turning point in driving more-profitable growth.”

    But investors appeared skeptical after hours on Thursday, as shares slid more than 11%.

    Nike announced the cost-cutting drive as clothing and shoe brands try to steer through weaker demand overall and a broader price-cutting battle in retail stores for inflation-battered customers. Those customers have had to set aside more money to cover the costs of ever-pricier essential goods, at the expense of things like sportswear and sneakers.

    “We are seeing indications of more cautious consumer behavior around the world in an uneven macro environment,” Friend said during the call.

    Nike executives said consumer demand was strong through the back-to-school season, Black Friday and Cyber Monday, but lagged in between. Demand wobbled online, and in China and Europe.

    They also said that the money they planned to save would be reinvested into helping Nike become more nimble and more responsive to consumer preferences, after years of shifting away from selling shoes and gear through traditional retail chains in favor of doing business through its own stores and e-commerce channels. They added that those efforts “added complexity and inefficiencies” as competition grew steeper.

    Chief Executive John Donahoe said on the call that the Nike-brand women’s segment was already a $9 billion business. But he said new products — like bras, leggings, retro-themed running shoes and other offerings that span both sports and lifestyle — would help draw more women customers.

    Within the Jordan category, Donahoe cited opportunities beyond basketball sneakers. Clothing and golf-, soccer- and football-related products, along with offerings targeted toward women and children, would also help drive growth, he said.

    But for the rest of its fiscal year, Nike’s expectations were dimmer. The company said it forecasted “slightly negative” sales growth for its fiscal third quarter. For its fourth quarter, executives expect low-single-digits sales gains. And they said they now anticipate Nike’s full-year sales to increase around 1%, compared to an outlook in September for mid-single-digits gains.

    In its fiscal second quarter, which ended on Nov. 30, Nike reported net income in the period of $1.58 billion, or $1.03 a share, compared with $1.33 billion, or 85 cents a share, in the same quarter last year. Revenue rose 1% year over year, to $13.4 billion.

    Analysts polled by FactSet expected adjusted earnings per share of 84 cents, on sales of $13.39 billion.

    Gross margin rose to 44.6%, helped by price increases and lower costs for ocean-freight shipping.

    Outlooks this year from athletic-gear retailers like Foot Locker Inc.
    FL,
    +1.89%
    and Dick’s Sporting Goods Inc.
    DKS,
    +0.78%
    have also been cautious, and Nike has faced competition from the likes of Adidas
    ADDYY,
    +1.01%
    and On Running
    ONON,
    -1.05%    .

    Nike management also said in their previous earnings call in September that they aimed to do more to attract women and running-shoe customers. However, they noted that demand for the company’s products remained solid and they were “cautiously planning for modest markdown improvements for the balance of the year,” as the company tightens up its supplies of sneakers and clothing in stock.

    On Thursday’s call, executives said that demand for higher-priced products had been “resilient,” and that they didn’t have to cut prices as much as their rivals. And they said new releases — like the Sabrina 1 and Luka 2 sneakers — were the best way to stand out in a sea of discounts.

    “We know in an environment like this, when the consumer is under pressure and the promotional activity is higher, that it’s newness and innovation which causes the consumer to act,” Friend said.

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  • Nike Beats Profit Expectations, Sees $2 Billion of Cost Cuts

    Nike Beats Profit Expectations, Sees $2 Billion of Cost Cuts

    Nike beat expectations for second-quarter profit and announced a $2 billion cost-cutting plan, as it sees sales softening for the second half of its fiscal year.

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  • Head to Head Analysis: NIKE (NYSE:NKE) & TOD’S (OTCMKTS:TDPAY)

    Head to Head Analysis: NIKE (NYSE:NKE) & TOD’S (OTCMKTS:TDPAY)

    NIKE (NYSE:NKE – Get Free Report) and TOD’S (OTCMKTS:TDPAY – Get Free Report) are both consumer discretionary companies, but which is the better stock? We will contrast the two businesses based on the strength of their institutional ownership, valuation, analyst recommendations, profitability, risk, dividends and earnings.

    Profitability

    This table compares NIKE and TOD’S’s net margins, return on equity and return on assets.

    Net Margins Return on Equity Return on Assets
    NIKE 9.82% 34.97% 13.27%
    TOD’S N/A N/A N/A

    Insider & Institutional Ownership

    63.4% of NIKE shares are held by institutional investors. Comparatively, 1.8% of TOD’S shares are held by institutional investors. 0.5% of NIKE shares are held by insiders. Strong institutional ownership is an indication that large money managers, endowments and hedge funds believe a company is poised for long-term growth.

    Valuation & Earnings

    This table compares NIKE and TOD’S’s top-line revenue, earnings per share (EPS) and valuation.

    Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio
    NIKE $51.47 billion 3.18 $5.07 billion $3.24 33.22
    TOD’S N/A N/A N/A N/A N/A

    NIKE has higher revenue and earnings than TOD’S.

    Analyst Recommendations

    This is a summary of current ratings and recommmendations for NIKE and TOD’S, as reported by MarketBeat.

    Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
    NIKE 2 10 22 0 2.59
    TOD’S 1 0 1 0 2.00

    NIKE presently has a consensus target price of $122.17, indicating a potential upside of 13.50%. Given NIKE’s stronger consensus rating and higher possible upside, research analysts plainly believe NIKE is more favorable than TOD’S.

    Summary

    NIKE beats TOD’S on 9 of the 9 factors compared between the two stocks.

    About NIKE

    (Get Free Report)

    NIKE, Inc., together with its subsidiaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, accessories, and services worldwide. The company provides athletic and casual footwear, apparel, and accessories under the Jumpman trademark; and casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All Star, One Star, Star Chevron, and Jack Purcell trademarks. It also sells a line of performance equipment and accessories comprising bags, sport balls, socks, eyewear, timepieces, digital devices, bats, gloves, protective equipment, and other equipment for sports activities under the NIKE brand; and various plastic products to other manufacturers. In addition, the company markets apparel with licensed college and professional team, and league logos, as well as sells sports apparel; and licenses unaffiliated parties to manufacture and sell apparel, digital devices, and applications and other equipment for sports activities under NIKE-owned trademarks. It sells its products to footwear stores; sporting goods stores; athletic specialty stores; department stores; skate, tennis, and golf shops; and other retail accounts through NIKE-owned retail stores, digital platforms, independent distributors, licensees, and sales representatives. NIKE, Inc. was founded in 1964 and is headquartered in Beaverton, Oregon.

    About TOD’S

    (Get Free Report)

    TOD’S S.p.A., together with its subsidiaries, creates, produces, and distributes shoes, leather goods and accessories, and apparel in Italy, rest of Europe, the Americas, Greater China, and internationally. It distributes its products through directly operated single-brand stores (DOS), the e-commerce channels, franchised retail outlets, and a series of selected independent multi-brand stores under the TOD’S, HOGAN, FAY, and ROGER VIVIER brands. The company was founded in 1970 and is headquartered in Sant’Elpidio a Mare, Italy. TOD’S S.p.A. is a subsidiary of DI.VI. FINANZIARIA DI DIEGO DELLA VALLE & C. S.r.l.

    Receive News & Ratings for NIKE Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NIKE and related companies with MarketBeat.com’s FREE daily email newsletter.

    ABMN Staff

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  • Blue Apron notches triple-digit percentage gain while Nike rallies after earnings beat and boosts Foot Locker stock

    Blue Apron notches triple-digit percentage gain while Nike rallies after earnings beat and boosts Foot Locker stock

    Here are the day’s biggest movers:

    Stock gainers:

    Blue Apron Holding Inc.’s stock
    APRN,
    +133.52%
    rocketed by 134% after food-delivery start-up Wonder said it would acquire the company for $13 a share or about $103 million, just a fraction of its $2 billion in 2017 when the company went public.

    Shares of Nike
    NKE,
    +5.96%
    rallied 7% as the apparel maker, which is also part of the Dow Jones Industrial Average
    DJIA,
    reported better-than-expected earnings, news that also lifted shares of European rivals including Adidas
    ADS,
    +6.22%    .

    Foot Locker
    FL,
    +2.71%    ,
    which sells athletic apparel, saw its stock rise by 3%.

    Walgreens Boots Alliance Inc.‘s stock
    WBA,
    +6.39%
    rose 6.2% as a top gainer among the Nasdaq 100
    NDX
    as stocks reacted with gains to the latest inflation data.

    Stock decliners:

    Bionomics 
    BNOX,
    -11.87%    ,
    whose shares jumped 242% on Thursday after reporting positive results from a mid-stage trial of a treatment for post-traumatic stress disorder, fell 8% in regular trade.

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  • Adidas and Puma shares rally after Nike results

    Adidas and Puma shares rally after Nike results

    Investors bid up Nike’s rivals Adidas and Puma in early European markets action, after their U.S. peer beat first-quarter earnings forecasts.

    Adidas shares
    ADS,
    +6.09%
    jumped 6%, and Puma stock
    PUM,
    +6.22%
    rose 5%, after Nike
    NKE,
    +0.23%
    reported better margins than forecast even though revenue met expectation.

    JD Sports Fashion
    JD,
    +5.04%
    shares also jumped 6% in London.

    Analysts at JPMorgan led by Olivia Townsend said the read-across to the European sporting goods sector was better-than-expected demand in North America, a solid performance in Europe, expansion in gross margins and ongoing improvements in inventory levels.

    The major European indexes also advanced on Friday, with the U.K. FTSE 100
    UK:UKX,
    German DAX
    DX:DAX
    and French CAC 40
    FR:PX1
    each sporting gains around 0.7%.

    U.S. stock futures
    ES00,
    +0.42%
    also edged higher ahead of the release of the PCE price index report later. The S&P 500
    SPX
    ended Thursday with a 0.6% rise.

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  • Nike stock rises as profit beats estimates and inventories fall

    Nike stock rises as profit beats estimates and inventories fall

    Nike Inc. on Thursday reported a fiscal first-quarter profit that beat expectations, although revenue came up just shy of Wall Street’s estimates, amid a drop in sales for Converse sneakers.

    Shares
    NKE,
    +0.23%
    were up 1.4% after hours.

    The athletic-gear giant reported fiscal first-quarter net income of $1.45 billion, or 94 cents a share, compared with $1.47 billion, or 93 cents a share, in the same quarter last year. Revenue crept higher to $12.94 billion, compared with $12.69 billion in the prior-year quarter.

    Analysts polled by FactSet expected Nike to report earnings per share of 76 cents, on revenue of $13 billion.

    Gross margin fell 10 basis points to 44.2%, weighed by higher product costs and a tougher foreign-exchange backdrop, and offset by “strategic pricing actions.” The company’s inventories fell 10%, as Wall Street seeks progress on efforts by businesses to narrow down their stockpiles of unsold goods.

    Sales for Converse shoes were $588 million, down 9%, amid weaker demand in North America. Growth in Asia, however, acted as a counterweight to that decline.

    Nike reported earnings as stiff competition — from the likes of Adidas
    ADDYY,
    -0.51%
    and On Holding
    ONON,
    +0.27%
    — and weaker demand for sneakers and clothing keeps prices lower. While analysts say Nike stands to benefit from an enduring shift toward more casual gear, recent outlooks from sporting-goods chains like Foot Locker Inc.
    FL,
    +0.65%
    and Dick’s Sporting Goods Inc.
    DKS,
    +0.38%
    have been more downbeat.

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  • Micron, Peloton, GameStop, Workday, Nike, CarMax, and More Stock Market Movers

    Micron, Peloton, GameStop, Workday, Nike, CarMax, and More Stock Market Movers

    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/stock-market-movers-299270e4

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  • Foot Locker Slashes Its Outlook and Suspends Dividend. The Stock Sinks.

    Foot Locker Slashes Its Outlook and Suspends Dividend. The Stock Sinks.



    Foot Locker


    stock plunged on Wednesday as investors kicked around a bevy of bad news. The shoe and sportswear retailer missed expectations for second-quarter sales, slashed its full-year outlook again, and paused its dividend.

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  • Nike profit misses expectations, as ‘higher markdowns’ endure amid weaker demand

    Nike profit misses expectations, as ‘higher markdowns’ endure amid weaker demand

    Nike Inc. on Thursday reported fourth-quarter profit that came up short of Wall Street’s expectations, with price cuts weighing on results amid weaker demand for sneakers and clothing.

    Nike
    NKE,
    +0.30%
    reported fourth-quarter net income of $1.03 billion, or 66 cents a share, down from $1.44 billion, or 90 cents a share, in the same quarter last year. Revenue rose 5% to $12.83 billion, compared with $12.23 billion in the prior-year quarter.

    Analysts polled by FactSet expected Nike to report adjusted earnings of 68 cents a share, on $12.58 billion in sales.

    Nike said gross margins slipped 140 basis points to 43.6%, dragged by “higher product input costs and elevated freight and logistics costs, higher markdowns and continued unfavorable changes in net foreign currency exchange rates.”

    Shares were up 0.3% after hours on Thursday.

    Heading into the earnings, Wall Street had questions about Nike’s stockpiles of unsold shoes and clothing, and what it might take to clear them, as consumers still find themselves stretching their budgets to buy more essential goods like groceries.

    Nike’s broader plans to sell more shoes and clothes directly — either through its own e-commerce platform or its own physical stores. But recent plans to start selling again in Macy’s Inc.
    M,
    +3.35%
    and Designer Brands Inc.’s
    DBI,
    +4.01%
    DSW shoe stores have raised questions over whether the athletic-gear maker is rethinking that strategy. Analysts were also focused on demand in China, whose re-opening from COVID-19 shutdowns remains in flux.

    Shares of Nike have risen 9.6% over the past 12 months. By comparison, the S&P 500 Index
    SPX,
    +0.45%
    has risen 15% over that period.

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  • Does Nike have too many sneakers? Its financial results could tell us whether shoes will get cheaper.

    Does Nike have too many sneakers? Its financial results could tell us whether shoes will get cheaper.

    Are stores getting more desperate to sell sneakers? Fourth-quarter results from Nike Inc. on Thursday will probably provide part of the answer.

    Even as its some of its basketball shoes still put up double-digit sales gains — like those named after NBA icons LeBron James, Luka Doncic and Giannis Antetokounmpo — the athletic-gear maker, like its rivals, has faced weaker consumer demand overall. With customers forced to spend more money on necessities over the past year, they’ve had less to spend on new shoes.

    In March, Nike
    NKE,
    +0.19%
    executives said that the demand backdrop remained “promotional” — one in which anyone selling sneakers and clothing was cutting prices more aggressively to attract customers. But ahead of Thursday’s results, some analysts also wondered whether the stalling demand has forced bigger changes to the way management thinks about its broader turn away from retailers — a core piece of its sales strategy.

    Nike over recent years has embarked on a plan to rely less on shoe retailers for sales and more on sales made directly to customers through its own stores and online. But recently, it decided to start selling clothing again at Macy’s
    M,
    +3.58%
    and shoes again at DSW, the shoe-store chain run by Designer Brands Inc.
    DBI,
    +4.32%
    — this after ending partnerships with both retailers over the past two years.

    The return to traditional retail has raised questions about whether Nike is looking to more aggressively clear product it’s had trouble selling, and whether management is re-evaluating the company’s go-it-alone sales strategy overall.

    “The big question on our minds heading into [Nike’s] quarter is what is going on with the [direct-to-consumer] pivot?” Quo Vadis analyst John Zolidis said in a note on Monday. “Reopening Macy’s and DSW seems odd in context of previous dismissive statements about undifferentiated retail.”

    He continued: “Further, neither of these retailers has a customer that correlates strongly with [Nike’s] highest-value segments. The easiest explanation is that [Nike] overestimated the dollars it could recapture from closed wholesale accounts and now has too much inventory it needs to clear.”

    What to expect

    Earnings: Analysts polled by FactSet expect Nike to earn 68 cents a share, down from 90 cents in the same quarter a year ago. Contributors to Estimize — a crowdsourcing platform that gathers estimates from Wall Street analysts as well as buy-side analysts, fund managers, company executives, academics and others — expect earnings per share of 75 cents.

    Revenue: Analysts polled by FactSet expect $12.58 billion in sales for Nike. Forecasts from Estimize call for sales of $12.72 billion.

    Stock price: Nike’s stock is only up 1.3% over the past 12 months. Shares got hit in September, after company executives warned of further price-cutting from rivals due to weaker demand. The stock rebounded later but gave up some gains in May. The stock was up 2% on Monday.

    What analysts are saying

    Nike in March said demand for product sold at full pricing remained solid. Still, sneaker chain Foot Locker Inc.
    FL,
    +2.09%
    recently cut its outlook. Lots of Vans shoes are running at a discount, one analyst said last month, as the skater-centric brand competes with casual fare from the likes of Adidas
    ADS,
    +0.61%
    and others.

    Other analysts were also wondering about Nike’s return to Macy’s and DSW. But not everyone believed the move was a sign of deeper problems.

    “Investors are worried that this is a reversal in Nike’s shift from wholesale to [direct-to-consumer], but we don’t think the strategy is broken,” BofA analyst Lorraine Hutchinson said in a research note on Wednesday. “We expect to hear an explanation of these moves on the [conference] call rather than an about-face on its focus on reducing undifferentiated wholesale.”

    Still, the company faced concerns about sales abroad. Zolidis also said markets were increasingly worried about growth in China, whose recovery from pandemic lockdowns has stumbled.

    “Our recent conversations with companies in China suggest that trends are mixed,” Zolidis said. “The consumer is more value oriented, and job uncertainty is higher.”

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  • NKE Stock Price | Nike Inc. Cl B Stock Quote (U.S.: NYSE) | MarketWatch

    NKE Stock Price | Nike Inc. Cl B Stock Quote (U.S.: NYSE) | MarketWatch

    NIKE, Inc. engages in the design, development, marketing, and sale of athletic footwear, apparel, accessories, equipment, and services. It operates through the following segments: North America, Europe, Middle East & Africa, Greater China, Asia Pacific & Latin America, Global Brand Divisions, Converse, and Corporate. The North America, Europe, Middle East & Africa, Greater China, and Asia Pacific & Latin America segments refer to the design, development, marketing, and selling of athletic footwear, apparel, and equipment. The Global Brand Divisions represent its NIKE Brand licensing businesses. The Converse segment designs, markets, licenses, and sells casual sneakers, apparel, and accessories. The Corporate segment consists of unallocated general and administrative expenses. The company was founded by William Jay Bowerman and Philip H. Knight on January 25, 1964, and is headquartered in Beaverton, OR.

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  • Nike stock rallies after another earnings beat

    Nike stock rallies after another earnings beat

    Shares of Nike Inc. rallied after hours on Tuesday after the athletic-gear giant reported third-quarter results that topped expectations.

    The maker of sneakers and sports apparel reported third-quarter net income of $1.24 billion, or 79 cents a share, compared with $1.4 billion, or 87 cents a share, in the same quarter a year ago. Revenue increased 14% to $12.39 billion, compared with $10.87 billion in the prior-year quarter.

    Analysts polled by FactSet expected earnings per share of 56 cents, on sales of $11.48 billion.

    Nike’s
    NKE,
    +3.64%
    gross margin fell 330 basis points to 43.4%. Inventories stood at $8.9 billion, up 16%, amid “higher product input costs and elevated freight costs.”

    For Nike’s fourth quarter, FactSet estimates called for earnings per share of 81 cents, on revenue of $12.55 billion. For the full year, those analysts expected earnings of $3.15 a share, on sales of $50.11 billion.

    Shares rose 3.5% after hours. The stock also jumped after Nike’s last earnings report, in December, which also topped estimates.

    Nike reported earnings after it cut prices in an effort to clear clothing and other items from its warehouses, following supply-chain hiccups that led to an excess of off-season goods and rising prices for basics. Those higher prices made customers less interested in dropping money on a new pair of sneakers.

    However, Jefferies analyst Randal Konik, in a research note last week, suggested that rival Adidas AG’s struggles could become Nike’s gains, as Adidas
    ADDYY,
    +0.41%
    finds itself stuck with a bunch of Kanye West-branded shoes. West’s antisemitic remarks last year led to the termination of a collaboration between the two.

    “The athletic footwear space is highly fragmented, and we believe that NKE will likely continue to benefit as Adidas regroups,” he said in a note.

    Konik said that Jefferies’ own data suggested that holiday-season interest in sneakers was still strong, despite inflation. And he said trends in China were getting better, as that nation’s economy reopens.

    Foot Locker Inc.
    FL,
    +7.07%
    on Monday said that it had “revitalized” its relationship with Nike — to focus on data-sharing and sneaker culture — after Nike began focusing on selling products online and through its own retail stores. And after weaker sales of Nike products in the past, Foot Locker Chief Executive Mary Dillon said the new arrangement with Nike would return both to growth in 2024.

    Shares of Nike are down 4.4% over the past 12 months. By comparison, the S&P 500 Index
    SPX,
    +1.30%
    is down 10.4% over that period.

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  • Credit Suisse, UBS, First Republic, and More Stock Market Movers

    Credit Suisse, UBS, First Republic, and More Stock Market Movers

    This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com.

    https://www.barrons.com/articles/stock-market-movers-a86267f

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  • Nike Executive Chairman Mark Parker to be named chairman of Disney

    Nike Executive Chairman Mark Parker to be named chairman of Disney

    Walt Disney Co.’s
    DIS,
    +0.81%
    board of directors on Wednesday announced it has elected independent director Mark Parker as chairman. Parker, a seven-year member of Disney’s board and executive chairman of Nike Inc.
    NKE,
    +1.67%    ,
    will succeed Susan Arnold, who fulfilled a 15-year term limit on the board. As a result, the size of the board will be reduced to 11 members. Meanwhile, investment fund Trian Fund Management has nominated founder Nelson Peltz for election as a Disney director. Disney’s shares were up 1.6% in extended trading Wednesday.

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  • UPDATE: Lululemon stock slides premarket after yoga gear maker revises Q4 guidance

    UPDATE: Lululemon stock slides premarket after yoga gear maker revises Q4 guidance

    Lululemon Athletica Inc.
    LULU,
    +1.02%
    revised its fourth-quarter guidance on Monday by raising its revenue guidance. tweaking its per-share earnings guidance to a tighter range and lowering margin guidance. The yoga wear company now expects revenue to range from $2.660 billion to $2.700 billion, up from prior guidance of $2.605 billion to $2.655 billion. It expects EPS of $4.22 to $4.27 compared with prior guidance of $4.20 to $4.30. The company expects gross margins to decline 90 basis points to 110 basis points, compared with prior guidance of a rise of 10 basis points to 20 basis points. “However, the company now expects that it will further leverage selling, general and administrative expenses 100-120 basis points compared to its previous expectation of 30-50 basis points of leverage,” the company said in a statement released ahead of an investor conference. Lululemon stock slid 12% premarket, and is down 7% in the last 12 months through Friday’s close, while the S&P 500
    SPX,
    +2.28%
    has fallen 17%. Under Armour stock
    UA,
    +3.70%
    and Nike Inc.
    NKE,
    +3.24%
    fell in sympathy, The former was down 2.6% premarket and Nike was down 1.5%.

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  • Nike stock jumps more than 10% as earnings, sales destroy expectations

    Nike stock jumps more than 10% as earnings, sales destroy expectations

    Nike Inc.’s stock spiked more than 13% in extended trading Tuesday after the sporting-goods retailer reported early holiday earnings and sales are tracking solidly higher than Wall Street expected, though inventories remain high and a forecast could still loom.

    Nike
    NKE,
    +0.16%
    reported fiscal second-quarter net earnings of $1.33 billion, or 85 cents a share, compared with net earnings of 83 cents a share in the year-ago quarter. Revenue was $13.32 billion, up 17% from $11.36 billion a year ago for the sneaker maker in the quarter, which ended Nov. 30.

    Analysts surveyed by FactSet had expected on average net earnings of 64 cents a share on revenue of $12.58 billion.

    Nike executives did not provide a third-quarter forecast in their announcement, though Chief Financial Officer Matthew Friend said in a conference call he expects annual revenue grow in the the “low teens.” In an earlier statement, Chief Executive John Donahoe said the results “give us confidence in delivering the year as our competitive advantages continue to fuel our momentum,” while Friend added, “We are on track to deliver on our operational and financial goals.”

    In a conference call late Tuesday, Donahoe noted a rebound of business in China and improving inventory levels because of strong consumer demand.

    Nike announced the results amid a daunting confluence of slackening consumer spending, foreign-exchange headwinds and an elevated promotional environment, Jefferies says in a research note. In September, Nike shares tumbled after executives said markdowns on the retailer’s products would squeeze margins, and they expected clothing competitors to keep slicing prices through at least the end of the year.

    Read more: Inventory concerns are pounding Nike’s stock

    With consumers buying fewer clothes, Nike and other retailers have shouldered swelling inventories, though executives at Nike insist the level of excess goods likely peaked in North America this summer. In Tuesday’s report, Nike reported inventories of $9.3 billion, up 43% from the same quarter a year ago. Analysts on average were projecting inventories of $8.83 billion, according to FactSet.

    “The market is focused on progress to resolution of FY23 inventory issues as a set up to a strong margin recovery” in fiscal 2024, Stifel analysts said in a note last week.

    Shares of Nike have declined 38% this year, while the broader S&P 500 index
    SPX,
    +0.10%
    is down 20%.

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