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Shares of Nike $NKE jumped after it beat earnings estimates and cut the stock.

I noticed this week that quite a few people were waiting for this company's results. I personally follow it as well, I like its products and was still waiting though for a possible pullback. So let's get to the results.

The company surprised expectations and after closing the market on Thursday at around $89, it is up over 6% today. $NKE posted better earnings and gross margin and reduced its stock.

Revenue rose 2% to $12.9 billion, which was behind expectations - the first time in two years. Sales fell 2% in Nike's biggest market, North America. But sales in Europe, the Middle East and Africa rose 8%. They were also up 5% in China, and 3% in Asia Pacific and Latin America.

NKE

Nike

NKE
$92.00 $0.00
1 Day
5 Days
-6.01%
1 Month
-5.94%
6 Months
-0.31%
YTD
-8.37%
1 Year
-18.36%
5 Years
+14.51%
Max.
+54,232.46%

They also confirmed a 10% decline in inventory to $8.7 billion, "primarily driven by a decline in units, partially offset by product mix and higher product input costs." CFO Matthew Friend noted that Nike was "very comfortable" with the level of inventory in the market relative to retail sales.

The company is on a downtrend again after opening today, we'll see where the price stops. I personally will wait a bit longer, I had set a price alert around $85 that I was considering buying at. What's your view on $NKE? 😊


Great, I didn't even get a chance to look at the results, so thanks for the summary. I don't have NKE shares, however I would like to include them in my portfolio, but the stock is still expensive at the moment.

Yes, I missed that day too, and maybe a shame, because before that the shopping was already under $90 and that was more interesting, although I had a warning somewhere around $85.

Yeah, I get it. If the share price got below $90, I'd probably be buying.

To me, the fair price here seems really fair and Nike seems a bit overblown already...

I agree, I had the price set on my alert at $85 ...so I'm definitely not buying now. Like I'm not saying Nike doesn't have the money to go over 100$ again, but attractive to buy for me right now too.

Nice!

Let's see if he can keep the growth:)

I don't think it will be any extra glory, due to the fact that they are not doing well in the US, they have seen a drop in sales there.

Exactly, lately they don't seem to be keeping up, or there's just too much competition that they're not as popular as they used to be

Well, that was quite a jump, and we were just talking a few days ago about how their stock is only going down this year...

Exactly, but I wouldn't be happy yet, because although the increase in sales went up, but only outside the US, there was a drop, so again, I don't think it went up, on the contrary, despite the jump, then yesterday the price went down during the day.