Nike runs circles around analyst estimates in its fourth quarter; announces US$15bn stock buyback
The sneaker giant expects to repurchase US$15bn worth of stock within the next four years
Company
Nike Inc
NYSE:NKE
Nike Inc is engaged in the designing, marketing and distributing of athletic footwear, apparel, equipment and accessories and services for sports and fitness activities. The company's operating segments include North America; Europe, Middle East & Africa (EMEA); Greater China; and Asia Pacific & Latin America (APLA). It sells a line of equipment and accessories under the NIKE Brand name, including bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment and other equipment designed for sports activities.
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"While our international business continues to deliver against our ambition of building a global brand, operational challenges and lower demand in North America resulted in third quarter revenue that was below our expectations”
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The Curry 4 was supposed to hit stores on Friday, but retailers are still only taking orders with a shipping date of November 18
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Revenue during the period reached US$9.07bn, flat against the previous year and against market expectations for US$9.09bn
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