Nike warns on holiday delays, cuts full-year sales estimate
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Nike (NKE) Stock Falls On a Revenue Miss and Slashed FY Sales Outlook, Analysts Bullish Despite NT Supply Chain Challenges
September 24, 2021 5:50 AM EDTNike (NYSE: NKE) stock price is down is nearly 5% in pre-open Friday after the company reported lower-than-expected FQ1 sales and cut the full-year outlook.
Nike reported an FQ1 EPS of $1.16 to bear the analyst estimate of $1.11. Revenue for the quarter came in at $12.2 billion versus the consensus estimate of $12.46 billion.
Direct sales came in at $4.7 billion, which is up 28% compared to a year-ago period. Nike Brand digital sales soared 29%. The gross margin increased to 46.5%.
NIKEs strong results this quarter are continued proof of our deep consumer connections, unrelenting innovation pipeline... More
