On Thursday, Nike Inc (NYSE:NKE)’s shares declined -1.87% to $63.15.
NIKE, Inc. (NKE) stated financial results for its fiscal 2016 second quarter ended November 30, 2015. Strong consumer demand drove revenue growth across the NIKE Brand portfolio. Diluted earnings per share grew faster than revenue, up 22 percent, primarily due to gross margin expansion, a lower effective tax rate and a lower average share count, which more than offset higher SG&A investments in NIKE, Inc. brands and business capabilities.
Second Quarter Income Statement Review
- Revenues for NIKE, Inc. raised 4 percent to $7.7 billion, up 12 percent on a currency neutral basis.
- Revenues for the NIKE Brand were $7.3 billion, up 13 percent on a currency neutral basis, driven by double-digit growth in every geography and most key categories.
- Revenues for Converse were $398 million, down 5 percent on a currency neutral basis, as strong growth in North America was more than offset by a decline in Europe.
- Gross marginraised 50 basis points to 45.6 percent, primarily due to higher average selling prices, partially offset by higher product input costs and unfavorable changes in foreign exchange rates.
- Selling and administrative expenseraised 5 percent to $2.6 billion. Demand creation expense was $769 million, flat as contrast to the preceding year. Operating overhead expense raised 7 percent to $1.8 billion, reflecting continued growth in the Direct To Consumer (DTC) business, in addition to investments in operational infrastructure and consumer-focused digital capabilities.
- Other income, net was $34 million comprised primarily of net foreign currency exchange gains, and a favorable settlement of a legal judgment related to a bankruptcy case in Western Europe. For the quarter, the Company estimates the year-over-year change in foreign currency related gains and losses comprised of in other income, net, combined with the impact of changes in currency exchange rates on the translation of foreign currency-denominated profits, reduced pretax income by about $109 million.
NIKE, Inc., together with its auxiliaries, designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories for men, women, and kids worldwide. The company offers products in eight categories, counting running, basketball, football, men’s training, women’s training, sportswear, action sports, and golf under the NIKE and Jordan brand names.
Regions Financial Corp (NYSE:RF)’s shares gained 0.21% to $9.71. The last trading range of Regions Financial Corp (NYSE:RF) ranges between $9.66 and $9.78. The EPS of the company stands at $0.69. The 52-week range shows that the stock reached higher at $10.86 while its lower range is $8.54 in the last 52-weeks. The average volume of the company is at 17.48 million with the Outstanding Shares of 0.69 million. The market capitalization of the company is $12.68 billion. The Beta of the company stands at 1.96 with the RSI (Relative Strength Index) of 51.50.
Regions Financial Corporation, together with its auxiliaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, in addition to equipment lease financing services.
Monsanto Company (NYSE:MON)‘s shares dipped -0.30% to $99.27.
Monsanto Company (MON) declared it will issue the company’s financial results for its fiscal 2016 first quarter and annual research and development pipeline update on Wednesday, Jan. 6, 2016, preceding to market open.
Monsanto will hold a conference call at 8:30 a.m. central time (9:30 a.m. eastern time) in conjunction with the declarement of its results. The call will focus on the company’s results for the first quarter, future expectations, product performance, planned initiatives, long-term growth drivers, an annual update of projects within the R&D pipeline and may comprise a talk aboution of other matters related to the company’s business.
Slides related to this presentation and a simultaneous audio webcast of the conference call may be accessed by visiting the investor section of Monsanto’s website at www.monsanto.com/investors. Following the live broadcast, a replay of the webcast will be accessible on the Monsanto website for three weeks.
Monsanto Company, together with its auxiliaries, provides agricultural products for farmers worldwide. It operates in two segments, Seeds and Genomics, and Agricultural Productivity. The Seeds and Genomics segment produces raw crop seeds, counting corn, soybean, cotton, and canola seeds under the DEKALB, Channel, Asgrow, and Deltapine brands; and vegetable seeds, such as tomato, pepper, melon, cucumber, squash, beans, broccoli, onions, lettuce, and others under the Seminis and De Ruiter brands.
DISCLAIMER:
This article is published by www.wsnewspublishers.com. The Content included in this article is just for informational purposes only. All information used in this article is believed to be from reliable sources, but we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, or reliability with respect to this article.
All visitors are advised to conduct their own independent research into individual stocks before making a purchase decision.
Information contained in this article contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, counting statements regarding the predictable continual growth of the market for the corporation’s products, the corporation’s ability to fund its capital requirement in the near term and in the long term; pricing pressures; etc.
Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, aims, assumptions, or future events or performance may be forward looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified with such words as expects, will, anticipates, estimates, believes, or by statements indicating certain actions may, could, should/might occur.