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Nike Reports Strong Q2 Earnings With Renewed Focus – $NKE

By John F. Heerdink, Jr.

NIKE, Inc. (NKE) reported better-than-expected second-quarter results as the sports apparel retailer as the retailer continued to focus on cutting ties with retail partners in order to focus on its own stores. Dealing with tight inventories due to supply-chain issues, the sportswear giant is looking to prioritize its namesake stores and online sales.

Nike announced its products would no longer be available at one of America’s largest shoe-store chains, DSW starting next year. In 2019, Nike ended a partnership with Amazon. In September, Nike CFO Matthew Friend informed that the company had over the last three years exited about 50% of its retail partnerships.

“The supply-related reductions will likely trigger an even greater acceleration in the transformation of the marketplace toward Nike and our most important wholesale partners,” stated Friend.

Nike reported diluted earnings per share of 83 cents, 6% above the year-ago period, and exceeding estimates of 63 cents a share. Sales stood at $11.4 billion, 1% higher, but were flat on a currency-neutral basis, vs. last year. Nike reported direct sales of $4.7 billion, up 8% on a currency-neutral basis. Nike Brand Digital sales increased 11% on a currency-neutral basis, driven by 40% growth in North American sales.

NIKE, Inc. (NKE) is the world’s top designer, marketer, and distributor of athletic footwear, equipment, apparel, and accessories. The Beaverton, Oregon-based company offers products for a wide variety of sports and fitness activities. To learn more about NIKE, Inc. (NIKE) and to continue to track its progress please visit the Vista Partners NIKE Coverage Page.

 
 
Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.
 
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(Read Original Story: Nike Stock Pops After Topping Earnings, Revenue Estimates in Investor's Business Daily)


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