Tennessee Unveils New Nike Uniforms Nike's Phil Knight Stepping Down In '16 Cuban Among Group Raising Funds For Unikrn Tennessee Ready For Nike Transition Nike Sees Sales Rise 4.8% In Q4 Sources: MLBAM Eyes IPO For Non-Baseball Division Adidas Releases Wiggins' First Shoe VenueNext Gets $9M In New Financing Cavs, Nike Take Out Full-Page Ads Under Armour's Stock Split Plan Criticized
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).