NIKE beats by $0.23, reports revs in-line, North America revenue up 3%, gross margin increased 150 bps (100.82 +0.55)
- Reports Q3 (Feb) earnings of $0.98 per share, excluding non-recurring items, $0.23 better than the FactSet Consensus of $0.75; revenues were unchanged year/year at $12.4 bln vs the $12.28 bln FactSet Consensus.
- North America revenue up 3% to $5.07 bln.
- Greater China revenue up 6% in constant currency to $2.08 bln.
- Wholesale revenues were $6.6 billion, up 3 percent on a reported and currency-neutral basis.
- Gross margin increased 150 basis points to 44.8 percent, including a detriment of 50 basis points due to restructuring charges.
- Inventories for NIKE, Inc. were $7.7 billion, down 13 percent compared to the prior year, reflecting a decrease in units.