MSG Confirms Plans To Split In Two Asics America Enjoys Strong '14 Adidas Aims To Grow Profits By 15% Annually Norman's Company Opens Investment Arm Nike Signs Gatlin To Sponsorship Deal Wilson Purchases Louisville Slugger FIFA Makes Record Revenue Of $2B Nike Helped UT Evaluate "Lady Vols" Branding Nike Benefiting From "Athleisure" Trend Nike Reps 49 Teams In Women's Tourney
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).