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Nike Stock Plunges 10% Despite Earnings Beat as Margins Contract
Nike Stock Plunges 10% Despite Earnings Beat as Margins Contract
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BTCCSquare news:
Nike's fiscal Q2 earnings surpassed analyst expectations with EPS of $0.53 against $0.37 forecast and revenue of $12.43 billion versus $12.2 billion projected. Yet shares tumbled 10% in premarket trading as gross margins compressed by 300 basis points to 40.6%.
The sportswear giant faces mounting pressures from promotional clearance activity and $1.5 billion in projected tariff impacts. While North America sales grew 9%, China revenue collapsed 17% - exposing vulnerabilities in a critical growth market. Net income fell 32% to $792 million as inventory management costs bit into profitability.
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