Nike: Q3 EPS falls 9% to $0.79
(CercleFinance.com) - On Tuesday evening Nike reported Q3 EPS that fell 9% to $0.
79, with a gross margin that is down 330 bp to 43.3%, due to inventory clean-up, currency effects and cost increases.
The sporting goods supplier's revenue rose 14% to $12.4bn, with growth of 19% excluding currency effects, in particular driven by digital sales of the Nike brand (+24%).
Nike also said that sales of its brand in Greater China rose by 1% excluding currency effects, despite a difficult December following the country's change in its Covid-19 policy.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
79, with a gross margin that is down 330 bp to 43.3%, due to inventory clean-up, currency effects and cost increases.
The sporting goods supplier's revenue rose 14% to $12.4bn, with growth of 19% excluding currency effects, in particular driven by digital sales of the Nike brand (+24%).
Nike also said that sales of its brand in Greater China rose by 1% excluding currency effects, despite a difficult December following the country's change in its Covid-19 policy.
Copyright (c) 2023 CercleFinance.com. All rights reserved.