Nike Executive Said Expect FY 2024 Gross Margins To Expand 140 To 160 Basis Points On A Reported Basis -Conf Call
Portfolio Pulse from Charles Gross
During a conference call, a Nike executive stated that the company expects its gross margins to expand by 140 to 160 basis points on a reported basis for the fiscal year 2024.
June 29, 2023 | 9:50 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Nike's forecast of an expansion in gross margins for FY 2024 indicates potential for increased profitability, which could positively impact the company's stock.
Gross margin is a key profitability indicator. An expansion in gross margins means that Nike is expecting to make more profit on each dollar of sales. This is generally seen as a positive signal by investors and could lead to an increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100