Nike Stock Up on Profit Beat, But CEO Says Running Business Needs Work

Nike's stock rose after beating profit expectations, but CEO said running business needs improvement
Running has lost ground to smaller brands recently; Nike vows more focus on connecting with runners
CEO Donahoe acknowledged recent "wobbly performance" but touted digital sales plan
Nike expects sales growth in mid-single digits this fiscal year amid macro uncertainty
Donahoe signaled possible broader return-to-office policy after praising in-person collaboration

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Relevant topic timeline:

8/22/2023

A Bull Market Could Be Here: 3 Reasons to Buy Nike Stock

Nike's financials remain strong, with solid revenue growth and a strong balance sheet, despite setbacks in sales and net income; inventory issues are improving, which should help expand profit margins; and the stock is trading at reasonable prices, making it a compelling opportunity for long-term investors.

9/28/2023

Nike Beats on Earnings Despite Revenue Miss; Stock Jumps After Hours

Nike reported first-quarter revenue slightly below expectations, but beat earnings estimates and saw a rise in gross margins, leading to an 8% surge in stock prices; however, sales in China fell short of analysts' expectations.

9/28/2023

Nike Forecasts Improved Results in Second Half of 2022 as Discounts Ease and Costs Fall, But Faces Near-Term Slowdown

Nike executives anticipate a potential improvement in shopper enthusiasm for sneaker-buying, leading to a reduction in price cuts and better financial results for the company.

9/29/2023

Nike Soars on Earnings Beat; Uranium Energy Revenue Surges Over 600%; Blue Apron to be Acquired; AB InBev Upgraded; Bumble Rating Boosted

Nike's stock rose nearly 10% in premarket trading following a mixed earnings report, exceeding analysts' expectations and reiterating full-year revenue growth guidance.

9/29/2023

Nike Stock Jumps As Strong Earnings Ease Concerns About Discounting

Nike stock and its peers experience a rise after the company's earnings alleviate worries about discounting in sportswear, according to analysts.

9/28/2023

Nike Beats Profit Estimates as Sneaker Demand Stays Strong; Sees Higher Margins Ahead

Nike has surpassed Wall Street's profit expectations for the first quarter due to higher prices for its products, offsetting declining demand and persistent cost pressures, leading to an 8% increase in its shares.

9/28/2023

Nike Q1 Earnings Mixed: Revenue Misses, EPS Beats as China Sales Grow but North America Declines

Nike reported a 2% increase in Q1 revenue, beating earnings estimates, but missing revenue expectations due to a 2% decline in North America sales.

10/7/2023

The Power of Long-Term Investing: How Early Stakes in McDonald's, Amazon, and Shopify Could Have Multiplied Your Money

Investing $10,000 in Nike stock 20 years ago would have resulted in nearly $160,000 today, demonstrating the success of stock-picking when the right stocks are chosen; three stocks worth holding for the next few decades are McDonald's, Shopify, and Amazon.