BR: Nike Slips On Mixed Q2 After Touching New High
The company said it earned 90 cents a share, ahead of the 86 cents analysts were expecting. However, revenue of $7.69 billion was just shy of the $7.81 billion consensus.
Sales for its flagship Nike brand grew 13% in the quarter to $7.3 billion, while Converse sales were down 5%, to $398 million.
Future orders rose 15%, or 20% on a constant currency basis, ahead of expectations, and gross margins expanded 50 basis points 45.6%.
For fiscal 2016, Nike reaffirmed its mid-single digit revenue forecast; analysts expect sales to grow 7.1%.
