SeatGeek Closes On $35M In VC Financing Jordan, Federer U.S. Open Chat Boosts Sales Jordan Talks Federer Shoe Collaboration UA Battles Nike Supremacy With Durant Deal Under Armour Makes Big Offer To Durant Golf Sales Cut Into Dick's Profits Rory, Tiger Promote New Nike Irons On "Tonight Show" ClubCorp Acquires Sequoia Golf For $265M Arizona Unveils New Nike Hoops Uniforms Aldridge Finds Endorsements Despite Small Market
Upcoming Conferences and Events
SBD/March 21, 2014/Finance
Nike's Q4, FY '15 Forecasts Fall Short Of Expectations After Strong Q3 Results
Published March 21, 2014
CAUSES FOR CONCERN: BLOOMBERG NEWS' Townsend & Patton note orders for the Nike brand "from this month to July" rose 14%, "excluding the effects of foreign-currency exchange-rate fluctuations." Edward Jones & Co. Senior Analyst Brian Yarbrough said that there were "a couple points of concern in the orders." First, Nike's 9% rise in North America future orders marks "the first time they hadn’t recorded a double-digit percentage gain" since '10. Second, orders in Greater China, which "the company has been trying to turn around," declined 3%. Analysts "expected" a gain of 2.7% in China and 11.2% in North America (BLOOMBERG.com, 3/21). At presstime, shares of Nike were trading at $76.73, down 3.21% from the close of business on Thursday (THE DAILY).