Nike's Self-Confidence Remains Intact Despite A Rare Revenue Miss
Portfolio Pulse from Upwallstreet
Nike Inc reported Q1 revenue that missed Wall Street’s expectations for the first time in two years, while beating earnings and gross margin expectations. Nike has reestablished its wholesale partnerships with Macy’s Inc and Designer Brands Inc to clear excess inventories. Lululemon Athletica Inc has teamed up with Peloton Interactive Inc in a five-year strategic global partnership. Nike's sales rose across regions except North America. Nike maintained its full year guidance.
September 29, 2023 | 3:48 pm
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POSITIVE IMPACT
Designer Brands Inc has reestablished its wholesale partnership with Nike.
The reestablishment of the partnership with Nike could potentially boost Designer Brands' sales and positively impact the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Lululemon Athletica Inc has teamed up with Peloton Interactive Inc in a five-year strategic global partnership.
The strategic partnership with Peloton could potentially boost Lululemon's sales and positively impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
POSITIVE IMPACT
Macy’s Inc has reestablished its wholesale partnership with Nike.
The reestablishment of the partnership with Nike could potentially boost Macy's sales and positively impact the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 60
POSITIVE IMPACT
Peloton Interactive Inc has teamed up with Lululemon Athletica Inc in a five-year strategic global partnership.
The strategic partnership with Lululemon could potentially boost Peloton's sales and positively impact the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 80
NEUTRAL IMPACT
Nike's Q1 revenue missed expectations but beat earnings and gross margin expectations. Sales rose across regions except North America.
Despite missing revenue expectations, Nike beat earnings and gross margin expectations which could balance out the impact on the stock. However, the contraction in North American sales could be a concern.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100