NIKE, Inc. (NYSE:NKE) Faces Worst Fall Since December 2008 After Weak Financial Results – (NKE, COH, DECK, CROX)
Shares of NIKE, Inc. (NYSE:NKE) plunged Friday, facing their worst drop since December 2008 after fourth-quarter net income surprisingly fell and demand in China, its key growth market, slowed. The stock was Friday’s largest decliner on the S&P 500 Index after the company said on late Thursday that earnings moved down 7.6% to $549 million or $1.17 a share, compared with $594 million or $1.27 in the prior year quarter.
Revenue for the quarter ending May 31 advanced 12% to $6.5 billion. Analysts polled by FactSet had forecasted net income would be $1.37 a share on revenue of $6.51 billion. Nike said its results were down due to lower gross margins, increased expenses and a charge to restructure its Western European businesses.
NIKE, Inc (NYSE:NKE) hit 9.21% as their profit margin for the last twelve months and had an operating margin of 12.36%. Evaluating management effectiveness, return on equity was maintained at 21.98% in last twelve months. Return on assets was 14.59%. In the previous 52 weeks the price has traded between $76.98 – $90.50. The last session’s volume of 21.59 million shares competed with the average daily trading volume of 3.57 million shares.
Within the industry, Coach, Inc (NYSE:COH) had a 21.34% profit margin in the last twelve months and an operating margin at 31.74%. Return on equity for this company was 53.78% in the last twelve months. Return on assets was 34.69%. In the last year the stock has moved within a range of $45.70 – $79.70. The last session’s volume of 4.76million shares competed with the average daily trading volume of 4.15 million shares.
Deckers Outdoor Corp (NASDAQ:DECK) recorded a profit margin of 13.40% for the prior 12 months and an operating margin at 18.93%. Return on equity for this stock was 25.05% while return on assets was 21.92%.
Within the industry, Crocs, Inc (NASDAQ:CROX) had a 11.44% profit margin in the last twelve months and an operating margin at 13.75%. Return on equity for this company was 25.38% in the last twelve months. Return on assets was 17.25%.