Edition:
United Kingdom

Nike Q3 Loss Per Share $0.57


Thursday, 22 Mar 2018 

March 22 (Reuters) - Nike Inc ::NIKE, INC. REPORTS FISCAL 2018 THIRD QUARTER RESULTS.Q3 LOSS PER SHARE $0.57.Q3 REVENUE $9.0 BILLION VERSUS I/B/E/S VIEW $8.85 BILLION.Q3 EARNINGS PER SHARE VIEW $0.53 -- THOMSON REUTERS I/B/E/S.IMPACT OF TAX ACT RESULTED IN ONE-TIME PROVISIONAL CHARGES THAT REDUCED DILUTED EARNINGS PER SHARE BY $1.25 IN QUARTER.QTRLY NORTH AMERICA TOTAL REVENUE $3,571 MILLION VERSUS $3,782 MILLION REPORTED LAST YEAR.QTRLY GREATER CHINA TOTAL REVENUE $1,336 MILLION VERSUS $1,075 MILLION REPORTED LAST YEAR.NIKE - "CONSUMER DIRECT OFFENSE DROVE STRONG DOUBLE-DIGIT GROWTH ACROSS OUR INTERNATIONAL GEOGRAPHIES, LED BY GREATER CHINA" IN QUARTER.QUARTER-END INVENTORIES FOR NIKE, INC. WERE $5.4 BILLION, UP 9 PERCENT FROM FEBRUARY 28, 2017.QTRLY GROSS MARGIN DECLINED 70 BASIS POINTS TO 43.8 PERCENT.QTRLY SELLING AND ADMINISTRATIVE EXPENSE INCREASED 11 PERCENT TO $2.8 BILLION.QTRLY EUROPE, MIDDLE EAST & AFRICA TOTAL REVENUE $2,299 MILLION, UP 19 PERCENT."AS WE CLOSE Q3, WE NOW SEE A SIGNIFICANT REVERSAL OF TREND IN NORTH AMERICA".AS A RESULT OF U.S. TAX REFORM, RECORDED ADDITIONAL INCOME TAX EXPENSE OF $2.0 BILLION IN QUARTER.