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NIKE SHARES EXCEED EXPECTATIONS

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NIKE SHARES EXCEED EXPECTATIONS

Sept 26 2014, 1.50pm GMT

Stock.com

Nike (NKE) shares exceed expectations with a future order book that looks very healthy.

After yesterday’s announcement on the company’s first-quarter profit, shares on Nike Inc. NKE, have increased today even further to +9.18%.

Investors and traders appreciated the unexpected hike in NIKE shares of +9.18% [1.50pm GMT, Sept 26] up to 87.07 per share. This is the highest ever for the US sports equipment and clothing manufacturer as profit, sales and future orders for the company surpassed expectations.

The figures reported by MarketWatch on sales and orders are as follows:

Profit increased from 1 year ago; 23% to $962 million, or $1.09 a share, from $779 million, or 86 cents a share.

Sales rose 15% to $7.98 billion.

Future orders of shoes and clothing for delivery between September and January rose 11% and were up 14% excluding impact of currency translations.

Gross margin widened 1.7 percentage points to 46.6%.

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