nike big

Nike Inc

(NKE)

NYSE

Recommendation:

Buy

Share Price:

USD

Market Cap:

$

Nike Inc: Pulling up their socks

30 September 2022

Shares of Nike Inc fell sharply in aftermarket trading after missing on gross margin expectations. GM narrowed to 44.3% and mgmt reiterated that GM may decline another ~50bps this fiscal year. Revenue grew - up 10% on a currency neutral basis; Nike Direct sales were up 16% cur. neutral and Nike Online grew 23% cur. neutral. Inventory grew 40%. Diluted EPS were down 20% YoY (0.93), slightly beating analyst’s estimates.

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Recommendation:

Buy

Share Price:

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Market Cap:

$

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