Nike is the worlds leading supplier of athletic shoes and apparel and a significant producer of sports equipmenton January 31, 2012 at 5:20 am
Nike SHARES JUMPED strong off the commencing block Friday, following an impressive earnings report. All indications propose it could be a prolonged run.
The footwear apparel giant posted per-share earnings of $1.14 for the fiscal first quarter, effectively ahead of Wall Street’s $1.01 estimate. Revenue rose eight% to $five.2 billion, in line with Wall Street’s forecast. And the long term appears promising, with worldwide orders of $7.1 billion in place for September by means of January. The figure is up 10% from the year-ago period.
“The futures numbers had been through the roof,” says Sam Poser, an analyst at Sterne Agee. “That’s their bellwether.”
Nike Inc. (NKE: 79.57 +1.90 +2.45%) posted strong fiscal 2011 1st-quarter earnings of $1.14 per share, which reflects a development of 10% from the year-ago earnings of $1.04. Earnings for the quarter also surpassed the Zacks Consensus Estimate of $1.01 per share. Balanced top-line growth coupled with greater gross margin and successful inventory management had been the important highlights of the quarter.
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