From Seekingalpha · Gytis Zizys · · 40s
NIKE Stock: Tripping Over Your Own Shoes
NIKE's Q1 sales drop 4% y/y as China and EMEA drag revenue.
In brief
NIKE's Q1 sales drop 4% y/y as China and EMEA drag revenue. NIKE's Q1 sales fell 4% year-over-year with China and EMEA as key revenue drags. Originally reported by Seekingalpha.
NIKE Q1 Sales
NIKE's Q1 sales dropped 4% year-over-year with China and EMEA as significant revenue drags.
Financial Metrics
Gross margin improved 60 basis points to 42.8%, but operating margin remains weak at 7.9% and cash flow dropped 39% year-over-year.
Management Strategy
NIKE shifts strategy to segment sportwear, reduce oversupplied classics, and broaden lifestyle offerings but regaining brand relevance will take time.
The essence
NIKE's Q1 sales fell 4% year-over-year with China and EMEA as key revenue drags.
