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Company Earning Updates

Nike (NYSE: NKE) 3Q19 Results: Digital Growth Powers Forward at a 36% Pace, China Digital Grows Over 60%

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Coresight Research

Key Points

  • Nike 3Q19 revenues rose 7%, driven by 13% growth for Nike footwear led by Greater China.
  • The operating margin was flat at 13% of sales as gross margin expansion was offset by investment spending in Nike’s transformational initiatives.
  • The outlook for 4Q19 is high-single-digit revenue growth offset by FX, about 75 bps gross-margin expansion and high-single-digit SG&A expense growth.

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