USOC Extends Nike Deal Through '20 Patriots' Nike Shoe Goes On Sale Monday Iverson Protests Nike Tribute Shoe TaylorMade CEO Sharpe Talks About His Plan Nike Terminates Adrian Peterson's Contract Adidas Meets Expectations With Q3 Results LeBron James' New Nike Spot Was Shot In Secrecy MSG Could Double In Value With Split ScoreBig Closes $18M Series D VC Funding MSG Considers Splitting In Two
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).