The only thing Nike (NKE) is "just doing" is serving up another post-earnings day stock slide because its results were far from a slam dunk.
Shares of the sneaker giant fell 2% in premarket trading on Wednesday, bringing its stock down about 40% on the year. Nike's stock hasn't been this low since 2014.
As they say, the devil's in the details.
Nike reported fiscal fourth quarter revenue of $11.0 billion, reflecting a 1% decline on a reported basis and a 4% drop on a currency-neutral basis.
While the company's diluted earnings per share of $0.72 appeared significantly stronger year over year, it was heavily distorted by a massive $0.52-per-share one-time benefit from an expected tariff recovery.
Shares of the sneaker giant fell 2% in premarket trading on Wednesday, bringing its stock down about 40% on the year. Nike's stock hasn't been this low since 2014.
As they say, the devil's in the details.
Nike reported fiscal fourth quarter revenue of $11.0 billion, reflecting a 1% decline on a reported basis and a 4% drop on a currency-neutral basis.
While the company's diluted earnings per share of $0.72 appeared significantly stronger year over year, it was heavily distorted by a massive $0.52-per-share one-time benefit from an expected tariff recovery.
1 month ago
