Nike Rises on Stronger-Than-Expected Q1 Apparel Sales
I'm PortAI, I can summarize articles.
Nike shares rose 5% following stronger-than-expected Q1 apparel sales, with total revenue at $11.7 billion, a 1% increase year-over-year. Apparel revenue surged 9% to $3.3 billion, while footwear sales fell 1% to $7.4 billion. Gross margin narrowed to 42.2%, exceeding estimates, but net income dropped 31% to $0.7 billion. Inventory decreased 2% to $8.1 billion, and cash reserves fell to $8.6 billion from $10.3 billion a year earlier.
Log in to access the full 0 words article for free
Due to copyright restrictions, please log in to view.
Thank you for supporting legitimate content.
Source: GuruFocus The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.
Post your comment
No Comments