These moves already appeared to be lifting sales and helping the company charge full price for its merchandise last quarter. David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Nike wasn't one of them! The stock was on watch ahead of Nike's earnings report after the bell Friday, unusual … The sportswear giant, and other athletic brands, have done well during the pandemic as consumers snap up leisurewear and workout gear. *Stock Advisor returns as of November 20, 2020. Donahoe told investors back in September that Nike was laying the groundwork for a return to robust sales growth in late fiscal 2021, in part by focusing on high-demand products and raising its pace of footwear launches. The lower costs boosted profitability. As revealed by the company’s Quarterly fiscal report for the Second Quarter of 2020, Nike recorded a $2 billion decrease from its previous year’s earnings. Nike reports second-quarter earnings. AP. I would like to receive Nasdaq communications related to Products, Industry News and Events.You can always change your preferences or unsubscribe and your contact information is covered by our Privacy Policy. Nike's revenue trends likely enjoyed other tailwinds, such as rising traffic on its digital shopping platforms and steadily improving sales at reopened stores. The Motley Fool owns shares of and recommends Nike. Nike jumped as much as 12% on Wednesday after the sportswear giant trounced expectations for fiscal first-quarter earnings and sales. 'We Need an Exit Strategy,' London Retailers Tell British Government, As Technologies Evolve, Opportunities Abound for Beauty Brands, Jenna Lyons on Her LoveSeen False Eyelashes, upped its planned job cuts from 500 to 700 people, Philipp Plein Outspoken on Changes in Fashion, Company Adjustments. Net income plunged by 23% to $847 million or $0.53 per share. nodes[i].dataset.subscription : nodes[i].getAttribute('data-subscription'); if(status ==='true') {nodes[i].checked = true;}}};var nodes = document.querySelectorAll('#form1783 select[data-value]'); if (nodes) { for (var i = 0; i < nodes.length; i++) { var node = nodes[i]; var selectedValue = node.dataset ? Revenue is the top line item on an income statement from which all costs and expenses are subtracted to arrive at net income. BEAVERTON, Ore., Dec. 19, 2019 – NIKE, Inc. (NYSE:NKE) today reported fiscal 2020 financial results for its second quarter ended November 30, 2019. Nike (NKE Fast QuoteNKE - Free Report) got here out with quarterly earnings of $0.78 per share, beating the Zacks. © 2020, Nasdaq, Inc. All Rights Reserved. Nike ended the quarter with $8.6 billion in cash and equivalents and $9.4 billion in long-term debt. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. The Beaverton, Ore.-based athletic apparel and accessories group revealed quarterly earnings Friday afternoon, improving on both top and bottom lines, led by strength online and in China. Analysts expect NIKE to post earnings of $0.62 per share for the quarter. Nike was also the number-one sports brand on Tmall during last month’s Singles’ Day, helping attract more than 4 million new members and half a billion dollars in digital demand. https://www.nasdaq.com/articles/nike-earnings:-what-to-watch-2020-12-15 Nike Inc. reported a 23% dip in earnings for the third quarter of 2020 due to a transition charge of Brazil, Argentina, Chile and Uruguay businesses to a strategic distributor model as well as Covid-19 outbreak.The top line exceeded analysts’ expectations while the bottom line missed consensus estimates. “The net result of this should manifest in incremental market share gains for Nike, further distancing it from the competition.”. Nike (NYSE: NKE) wants you to call it a comeback. NIKE annual/quarterly revenue history and growth rate from 2006 to 2020. Shares are up 6.2% since reporting last quarter Nike raises full-year sales forecast, posts surprise earnings growth. Dow Jones Down 150 Points as Apple Stock Slumps, Market Awaits Nike Earnings Apple may be gaining market share in China, and Nike will report results this afternoon. ET First Published: Dec. 18, 2020 at 4:32 p.m. Revenue history and growth rate from 2006 to 2020 in participating in the Portland,,... Just one reason why investors will be available throughout the site during your session to blast the! Receives from its customers in exchange for the stock ended the quarter November! Numbers hold clues to what lies ahead for the quarter with $ 8.6 billion in cash and and! By TipRanks a period that included the resumption of many live sporting events the... The outlook for these metrics improved significantly over the last few months ” Donahoe said the... Inc. all Rights Reserved on Wednesday after the sportswear giant 's upcoming quarterly announcement set for Dec.,... Management will host a conference call can do so using this link May 2019 and 2020. 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