Nike Posts Lower 3Q Profit Despite Higher-Than-Expected Sales
March 24 2020 - 4:59PM
Dow Jones News
By Kimberly Chin
Nike Inc. said its profit fell in the fiscal third quarter as
costs and expenses notched higher.
For the quarter ended Feb. 29, the Beaverton, Ore.-based
athletic company's profit was $847 million, or 53 cents a share,
down from $1.1 billion, or 68 cents a share, a year earlier.
Analysts were expecting a per-share profit of 51 cents, according
to FactSet.
Sales rose to $10.1 billion from $9.61 billion a year earlier.
Analysts estimated sales of $9.81 billion.
Write to Kimberly Chin at kimberly.chin@wsj.com
(END) Dow Jones Newswires
March 24, 2020 16:44 ET (20:44 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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