Nike rises on profit beat
Wall Street Breakfast
Seeking Alpha
4.1 • 1K Ratings
🗓️ 29 September 2023
⏱️ 6 minutes
🧾️ Download transcript
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Transcript
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| 0:00.0 | Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning. |
| 0:07.0 | Good morning. Today is Friday, September 29th, and I'm your host Julie Morgan. |
| 0:12.0 | Nike rises on a profit beat. and I'm |
| 0:15.0 | M. M. M. M. M. M. M. M. M. M. A. L. on is hit with a multi-million dollar penalty |
| 0:18.0 | and Tesla and Chipotle have been sued by the EEOC. |
| 0:26.5 | Nike is up 8% pre-market as profit beat estimates while China sales missed. Nike's first fiscal quarter EPS of |
| 0:31.8 | 94 cents beat the 75-cent average analyst estimate. |
| 0:37.0 | Revenue of 12.94 billion dollars missed the estimate of 12.99 billion. Greater China revenue of 1.74 billion dollars missed the |
| 0:46.3 | average expectation of 1.83 billion. Nike managed to winnow down |
| 0:51.1 | inventory with a total of 8.7 billion dollars compared to the estimated 8.84 billion. |
| 0:57.4 | Direct sales of 5.4 billion were up 6% from the year earlier. |
| 1:02.4 | CEO John Donahoe said an estate up 6% from the year earlier. |
| 1:02.6 | CEO John Donahoe said in a statement |
| 1:05.3 | that the company is laser focused on scaling these successes |
| 1:09.3 | with greater consistency and speed |
| 1:11.6 | as they continue to integrate and streamline the business. |
| 1:15.4 | The company announced dividends of 524 million dollars up 9% from the prior year. |
| 1:21.8 | NKE is down 25% year to date. |
| 1:25.6 | The SEC announced on Thursday that Exelon, |
| 1:29.6 | its Commonwealth Edison subsidiary, |
| 1:32.0 | and a former ComEd CEO were charged with fraud in connection |
| 1:36.0 | with a multi-year scheme to corruptly influence and reward former Illinois House Speaker |
... |
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