Nike’s earnings report is scheduled to come out today after the closing bell.
Because it’s one of the biggest retail and consumer discretionary companies out there, I thought I’d give you a quick update on what to expect… and whether you should jump in on the action now or wait.
And mostly because Nike’s earnings report isn’t just important for the company itself. It’s important for its industry and retail sales as a whole, which make up roughly two-thirds of the economy.
Just in case you’ve been living under a rock, Nike Inc. (NYSE: NKE) is an American company that designs, develops, manufactures and markets apparel, footwear, accessories, equipment and even services.
And I anticipate Nike’s earnings report will marginally beat expectations…
Driven by a boost in digital revenue, Nike has added more than 70 million new members to its worldwide loyalty program since the start of the COVID-19 pandemic.
Even when the majority of Nike’s stores had to close temporarily, the company managed to post $38.2 billion in revenue the past four quarters.
While that is down 6% from the consolidated figure of $40.8 billion from the fourth quarter period before that — we did have COVID-19, after all — Nike has shown that it still has what it takes to grow.
Nike’s earnings report is expected to have an adjusted income of $1.2 billion, or $0.76 a share, on sales of about $11 billion after the market closes on Thursday.
But that’s just a little bit about Nike itself. So check out my short video below to hear everything you need to know about Nike’s earnings report, and feel free to leave your thoughts in the comments section below.
And as always, don’t forget to subscribe to my YouTube channel if you haven’t already so you can be notified as soon as I post my next video!
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