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Article Date: June 2019
Word Count: 844

Nike Net Falls on Strong Currency Headwinds, Tough Comps


The Eager Beavertons reported net income of $989 million, off 13% from $1,137 million prior for the final quarter ended May 31 as total revenues rose 4% to $10,184 million against $9,789 million. While its U.S. business produced a solid mid-single-digit gain, the European market was down on tough World Cup comparisons and China was up mid teens after rising in the mid-20s earlier in the year, but the top line would have been up 10% currency neutral and Nike assured investors that it was seeing no slowdown in demand in the critical China market. The results were slightly below ... Log in to view full article.

 


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