Nike Earnings: Still Waiting for a Growth Rebound
Investors were optimistic heading into Nike's (NYSE: NKE) earnings report this week and had pushed the stock up by 30% in the three months prior to the Thursday report. There were good reasons for this cheerfulness. After all, many retailers, including those ithin Nike's sales network, announced surprisingly strong customer traffic trends ahead of the holiday shopping season. The hope was that this rebound would speed Nike's turnaround in a U.S. market that's been weak for over a year.
Nike's fiscal second-quarter earnings report didn't deliver on that expectation. But the footwear giant did edge past management's top- and bottom-line forecasts to keep the business on track to meet full-year targets.
Let's take a closer look at the results.
Source: Fool.com
Nike Inc. B Stock
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