Nike earned $950M in Q3, 20% "more than last year" and nearly $100M "more than analysts' consensus expectation," according to Jeff Manning of the Portland OREGONIAN. The company's $8B in sales for the quarter, while up 8% over last year's Q3, "fell short of the" $8.2B consensus analyst expectation. In '15, Nike "declared that its goal is to reach" $50B in annual sales by '20, an "audacious target." The company "did not back off that prediction" on Tuesday. Nike CEO Mark Parker said that the strong quarter "reflected the company's 'complete offense' of strong and diverse products across multiple categories and continents." He added that "strong consumer reaction to recent product releases sets the stage for continued growth" (OREGONIAN, 3/23). In N.Y., Germano & Stynes reported Nike "has outperformed most apparel makers as it has expanded its e-commerce offerings and logged strong sales gains in China." Nike CFO Andy Campion said "not every dimension of our portfolio will have the same level of momentum each and every period" (WALL STREET JOURNAL, 3/23). At presstime, shares of Nike were trading at $62.45, down 3.78% from the close of business Tuesday (THE DAILY).
