MOSS ADAMS CAPITAL: Apparel and foowear market monitor highlights notable deals, stock prices and results.
Details on Industry Insight.
Nike Inc. reported earnings for the quarter ended Aug. 31 today.
Here are the major highlights. To read a more complete report, including several comments from Nike executives about the performance of Nike's new action sports category in a conference call this afternoon, click here.
Total revenue: down 12% to $4.8 billion, or 7% in constant currency.
Net income: flat at $513 million
Future orders: down 6% to $6.2 million, or 4% in constant currency
Inventories: down 7% to $2.3 billion
Cash and short term investments: $6.3 billion, up 40% from the same period last year.
Other Businesses (Hurley, Cole Haan, Converse, Nike Golf and Umbro) revenue: Down 5% to $604 million, or down 3% in constant currency.
Other Businesses earnings before interest and taxes (EBIT): flat at $87 million