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Nike (NKE) and Lululemon (LULU) released their earnings reports. Nike beat expectations with an EPS of $0.77 and revenue of $12.43 billion. Lululemon beat EPS estimates with $5.29 but offered lower-than-expected sales outlook, causing shares to drop.
Nike's YoY inventory trends: —Q3 24: -13% to $7.7B —Q2 24: -14% to $8B —Q1 24: -10% to $8.7B —Q4 23: 0% to 8.45B —Q3 23: +16% to 8.9B —Q2 23: +43% to 9.3B —Q1 23: +44% to 9.7B —Q4 22: +23% to 8.4B $NKE
Nike's inventory trends: —Q3 24: -13% to $7.7B —Q2 24: -14% to $8B —Q1 24: -10% to $8.7B —Q4 23: 0% to 8.45B —Q3 23: +16% to 8.9B —Q2 23: +43% to 9.3B —Q1 23: +44% to 9.7B —Q4 22: +23% to 8.4B $NKE
Nike double beat in Q3 FY 24 with inventories down 13% YoY: "Gross margin increased 150 bps to 44.8%, primarily driven by strategic pricing actions & lower ocean freight & logistics costs, partially offset by higher product input costs & restructuring charges" $NKE: +2.5% AH https://t.co/0VK4ROmuSb https://t.co/aezlfkDBeC