Nike Air Jordan shoes are seen in store in Krakow, Poland on August 26, 2021.
Jacob Porziki | Nurphoto | Getty Images
nike Wall Street’s earnings and sales expectations for the fiscal fourth quarter topped Monday, as the sneaker giant overcame a Covid lockdown in China and a tough climate for consumers in the US.
Shares were up about 2% in aftermarket trading.
Here’s how Nike fared in its fiscal fourth quarter against Wall Street fears, based on a survey of analysts by Refinitiv:
- earnings per share: 90 cents vs 81 cents expected
- revenue: $12.23 billion versus $12.06 billion expected
The company reported net income of $1.44 billion, or 90 cents per share, for the three-month period ended May 31, compared to $1.51 billion, or 93 cents per share, a year ago.
Sales fell to $12.23 billion from $12.34 billion a year ago.
Nike shares closed down 2.13% on Monday at $110.50. As of Monday’s close, Nike shares are down about 34% so far this year. It has underperformed the S&P 500, which is down about 18% during the same period. The company has a market value of $173.9 billion.
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