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February 4, 2011
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Nike has been sitting in penality corner for last 15 days after earning announcement. Report ws good - it did not please the market and profit taking took place. Stock was extended some what.
I have a April 80 call option long and short April 90 call option with total cost of $4.21 - now worth $5.19 - going to hold for another $1 or upside.
Earning date report Dec22 , 2010
beats by $0.06, reports revs in-line; futures orders +11% (92.30 +2.03) : Reports Q2 (Nov) earnings of $0.94 per share, $0.06 better than the Thomson Reuters consensus of $0.88; revenues rose 9.9% year/year to $4.84 bln vs the $4.81 bln consensus. As of the end of the quarter futures orders for NIKE Brand athletic footwear and apparel, scheduled for delivery from December 2010 through April 2011, totaled $7.7 billion, 11% YoY; with little FX impact. Revenues for the NIKE Brand were up 9%, or up 10% on a currency neutral basis, driven by growth in all seven NIKE Brand key categories except Sportswear, which was down slightly compared to the prior year, and every geography except Japan. Gross margins improved 80 basis points to 45.3%. The improvement was due to a higher mix of full-price sales and fewer and more profitable close-out sales resulting from strong demand for our products and cleaner inventory positions, as well as improved profitability from our Direct to Consumer operations. During the second quarter, the co repurchased a total of 3.5 mln shares for ~$280 mln.
