Nike Just Did It—Turned $1.5 Billion Pain Into Performance - Nike (NYSE:NKE)
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2 Articles
Nike Just Did It—Turned $1.5 Billion Pain Into Performance - Nike (NYSE:NKE)
Nike Inc (NYSE:NKE) just proved it still knows how to make the right moves. The sportswear giant thumped Wall Street's expectations, flipping a $1.5 billion tariff drag into proof that its turnaround is working. Investors cheered, sending shares up during Thursday trading — evidence that a turnaround story can outweigh a headline-grabbing hit from tariffs. Track NKE stock here. Read Also: Nike Stock Jumps On Q1 Earnings Beat: ‘We Still Have Wor…
Nike tops profit views as revenue edges higher, shares climb
Nike reported a first-quarter revenue rise of 1% to $11.72 billion, topping expectations for a decline, and delivered earnings per share of $0.49 versus estimates of $0.27. Shares rose more than 3% on Wednesday as the company trimmed excess inventory and saw wholesale sales grow 5% on a currency-neutral basis. However, margins stayed under pressure. Gross margin fell 320 basis points to 42.2%, with executives warning that tariffs will cost about…
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