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The Best Is Yet to Come for Nike Inc Stock
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Honorthresh05

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PostPosted: Fri Dec 29, 2017 3:46 am    Post subject:  The Best Is Yet to Come for Nike Inc Stock
Description: The Best Is Yet to Come for Nike Inc Stock
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Global athletic retail giant
(NYSE:NKE) reported second-quarter numbers last week, and they were pretty unexciting for NKE stock investors.

It was a headline double beat with earnings coming in 6 cents above expectations and revenues coming in $150 million above expectations. But the underlying numbers weren’t great.

Revenues inched up just 3% in constant currency. That is better than last quarter’s 2% growth rate, but it continues a broader trend of slowing revenue growth (up 8% last year and up 12% the year before that). The North American business continues to be weak, and it is actually getting weaker (down 5% this quarter versus down 3% in the first quarter and up 3% last year). The guide doesn’t point to much strength for
.

Meanwhile, gross margins continue to be under pressure. The headwinds dragging on gross margin — unfavorable exchange rates and higher per-unit product — are expected to persist. Gross margins are expected to fall 50-100 basis points this year. Operating expenses are swelling, with SG&A growth (10%) outpacing revenue growth (5%). All in all, earnings-per-share fell 8% year-over-year.

The big picture for
? Second-quarter numbers weren’t great.

And yet Nike stock, which had rallied about 30% in the months leading up to the report, hardly budged. It dropped a bit the day after the report, but it has rebounded since then to trade just below pre-earnings levels.

This illustrates a unique resilience in
. This resilience tells me that when it comes to NKE stock, investors are ignoring quarter-to-quarter noise and are instead focusing on the long-term game with Nike.
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PostPosted: Fri Dec 29, 2017 3:46 am    Post subject: Adv



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