Published on 5 Apr 2024 on GuruFocus.com via Yahoo Finance
Revenue stability with slight growth amidst challenging market conditions.Effective cost management reflected in reduced cost of sales and operating expenses.Strategic pricing actions and lower logistics costs driving gross margin expansion.Continued investment in digital transformation and restructuring for future growth.
On April 4, 2024, Nike Inc (NYSE:NKE) filed its 10-Q report, revealing a company that has maintained revenue stability with a slight increase to $12,429 million from $12,390 million in the comparable quarter of the previous year. The company's cost of sales saw a decrease, contributing to a gross profit of $5,562 million, up from $5,371 million. Nike's net income experienced a slight dip to $1,172 million from $1,240 million, while diluted earnings per share stood at $0.77 compared to $0.79 in the prior year. These figures indicate a resilient performance in a competitive and dynamic market.
Warning! GuruFocus has detected 2 Warning Sign with NKE.