NIKE beats by $0.15, beats on rev, margins and Futures orders
* Reports Q4 (May) earnings of $0.98 per share, $0.15 better than the Capital IQ Consensus of $0.83; revenues rose 4.8% year/year to $7.78 bln vs the $7.69 bln consensus -- up 13% on a currency-neutral basis vs. low double digit guidance.
- Revenues for the NIKE Brand were $7.4 billion, up 13 percent on a currency-neutral basis driven by growth in nearly every geography and key category except Emerging Markets and Global Football.
- Revenues for Converse were $435 million, up 14 percent on a currency-neutral basis, mainly driven by market transitions to direct distribution in AGS (Austria, Germany and Switzerland) and strong performance in the United States.
- Gross margin expanded 60 bps (vs. +0-25 bps guidance) to 46.2%.
* Global futures orders +2% (+13% ex-FX vs. expectations of ~10.5%).