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Article Date: June 2019
Word Count: 1164

Industry Gains Decelerate in First Quarter


Revenues increased 4% in the first quarter to $43,760,762,000 from $42,049,277,000 at the 49 industry companies we track, halving the 8% growth pace we saw in the Holiday quarter, as Return on Sales jumped to 6.8% from 3.0% as profits more than doubled to $2,997,101 from $1,248,957. But the bottom line improvement is entirely due to Nike, which recorded a $2 billion charge in its fiscal third quarter ended Feb. 28 last year for the Tax Cuts & Jobs Act, partially for the transition tax on accumulated foreign earnings and partially a revaluation of deferred taxes. The other companies we ... Log in to view full article.

 


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