Nike Reports 35% Increase in Earnings
Nike (NYSE: NKE) saw a bit of weakness after reporting fiscal second-quarter results. Shares were down a bit more than 1% in pre-market trading Friday morning, as the effect of higher input costs on margins seemed to spook investors. Overall, the sports-apparel company reported continued growth and remains the dominant player in its field.
Everything was strong with the exception of small gross margin expansion.
The steadiness of the sales performance makes me rather forgiving of margin growth -- which seems to have underwhelmed some investors. Nike grows annual sales like clockwork. The sports retailer has more than doubled the S&P 500 over the last three years and finished fiscal year 2019 with 7.59% year-over-year revenue growth and a doubling in earnings per share. However, fiscal 2018 was the roughest earnings year that Nike has had in a while.
Source Fool.com
