Nike's Q4 Earnings: Mixed Results with Revenue Beat but EPS Miss
Nike's Q4 GAAP EPS of $0.66 missed expectations by $0.02, while its revenue of $12.83 billion exceeded estimates by $250 million. NIKE Direct reported a 15% increase in revenues compared to the previous year, while Wholesale reported a 2% increase. Gross margin decreased to 43.6%, and inventories remained flat at $8.5 billion. The company's cash and equivalents and short-term investments decreased by $2.3 billion, primarily due to share repurchases and other expenses. Nike's share repurchase program saw $1.4 billion spent on retiring 11.5 million shares.