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Nike managed to reverse a drop in sales in North America for the first time in the year, due to its new releases and its accent on Direct Shipments to Customers ] Based on Fourth Quarter Tax Report Completed May 31
The sports shoe manufacturer had problems in North America, its largest market, at a time when faced fierce competition from Adidas and Puma as well as ] Chalet of Authority and Sports .
Nike responded by focusing on new releases and direct sales to customers across its stores and on the Internet, and also partnered with Amazon
Sales in North America rose by 2.76% far exceeding analysts' estimate of an increase of 0.98%, according to Reuters.
The company's earnings and revenues also exceeded estimates.
Its net profit rose to $ 140 million or 69 cents per share, in the fourth quarter ended May 31, from $ 010 million, or 60 cents per share in the same period. the year before.
Excluding extraordinary items, the company gained 69 cents per share, exceeding estimates of 64 cents.
Its total revenues increased by 12.8 percent to 9 thousand 790 million dollars also exceeding estimates of 9 thousand 410 million dollars.
Nike expects revenue for 2019 to be in the upper single digit range, compared to its previous one-to-one growth forecast.
The company, which has set a revenue target of $ 50 billion by 2020, said sales for the 2018 fiscal year rose 6 percent to $ 36.4 billion.
Nike shares climbed 8 percent to $ 77.40 and are on track for a record opening on Friday after the company announced a $ 15 billion buyback program and revenue forecasts for the company. 2019 exercise up the beach from your previous guide.
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