Shares & Derivatives
Why Did Nike (NYSE: NKE) Drop By 6% Last Friday?
By A Path to Forever Financial Freedom (3Fs)  •  September 27, 2021
Shares of Nike Inc. dropped by more than 6% last Friday after the company announced earnings for the first quarter of fiscal 2022 that disappointed investors. The company cited supply chain disruptions which include temporary forced closures of its manufacturing facilities in Vietnam and Indonesia – both countries that are still facing battle of the Covid-19 pandemic. First quarter earning is not all bad and gloom. The company reported sales of $12.2 billion and an underlying EPS of $1.16, which is just under the market estimates of between $12.4 billion and $12.6 billion. The company managed it’s profit margin better in the first quarter due to less incentives given to customers due to higher than expected demand in the marketplace which led to a higher EPS but warned the increasing supply chain disruptions might hurt their margins going forward. The ongoing disruptions with the manufacturing facilities in Vietnam and Indonesia are also likely to reduce productions...
Read the full article
By A Path to Forever Financial Freedom (3Fs)
If you are looking for a place where you can learn about money management, investing and financial independence, then this site is the right one for you.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance