Sources: VF Selling Sports Group To Fanatics Angels P Talks Committing Future Earnings To Fantex MJ's Son Partners With Tech Startup WaitTime LeBron Not Worried About Nike Q3 Results Nike Posts Solid Q3 Amid Adidas Resurgence GoPro To Cut 270 Full-Time Jobs Nike Remains Top Provider For Tourney Teams Michigan Gets Regular Jordan Jerseys Back UNC Football's Move To Jordan Could Pay Off Dodgers Owner Leads $100M DraftKings Investment
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).