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    Nike Faces Difficulties In Slowing Down Future Orders

    2016/7/26 13:03:00 34

    Sporting GoodsSports ShoesNike

      

    Sports goods

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    Nike

    Announcing the latest earnings data, the profit decline in the fourth quarter of 2016 (March 1, 2016 -2016 May 31st) was disappointing, while sales in North America were flat, and the forecast for the first quarter of 2017 (June 1, 2016 -2016 August 31st) was significantly lower than expected. After that, Nike's share price fell 7% to 49.31 dollars.

     Nike's sales territory is eroded, facing a slowdown in future orders growth

    Nike also pointed out that although shipment is expected in 2016 6-11

    Gym shoes

    And clothing orders amounted to US $14 billion 900 million. At fixed exchange rates, they grew by 8% over the same period of the previous fiscal year, but not as much as 17% in the third quarter and 11% in the fourth quarter.

    The demand response of future orders to Nike products.

    John Kernan, an analyst at Cowen & Co, points out that due to increased competition from Adidas, Adidas's sales growth in North America in the first quarter grew by 31% (fixed exchange rate), and the sales of shoes sold by Under Armour and NBA star Stephen endorsement continued to grow, and the sales territory of the terrorists was being eroded.

    The overstock of North America and Sports Authority, a US sporting goods retailer, were in debt, dragging down Nike's profit growth, and Nike's overall business growth in the fourth quarter was offset.

    Nike's net profit fell by 2.2% to $846 million in the 3 months ended May 31st, and its gross profit margin shrank from 46.2% to 45.9%.

    Nike said the company's overall revenue growth in the fourth quarter was 6% US $8 billion 240 million, but its sales in North America were flat, with a slight growth of 0.1% US $3 billion 740 million, which is the worst sales growth in the region since November 2009.

    However, if the exchange rate is not favorable, the fourth quarter revenue in North America may grow by 9%.

    On the contrary, sales of Nike in Western Europe, Greater China, emerging markets and Japan reached two digit growth in the fourth quarter, thus driving Nike international revenue growth.

    From the 2016 fiscal year, net income of Nike increased by 15% to 3 billion 800 million US dollars a year, operating income grew 6% to 32 billion 400 million US dollars, and fixed exchange rate increased 12%.

    Nike brand grew by 51% in the Internet sales, increased in new stores, and 10% in the same store year-on-year sales growth, with sales growth of 13% US $30 billion 500 million.

    Converse's revenue grew by 2%, excluding exchange rate changes of US $2 billion, driven by strong sales growth from the US and the Asia Pacific region, but slightly reduced by sales in Europe.

    Gross profit margin expanded 20 basis points to 46.2% in the whole year, benefiting from the increase in average selling price and direct increase in profit performance of consumers, but some of the gains were offset by higher product costs, adverse effects of floating foreign exchange rates and redundant inventory clearance in North America.

    Kernan also pointed out that although Nike expects that sales in the fiscal year 2017 will continue to grow in high digits, Nike's growth in the first quarter is expected to grow by 3%, and the index data is significantly worse than market expectations.

    However, Michael Binetti, an analyst at UBS's investment bank, said the canal believes that the entire US sports industry is experiencing "historic destruction". The first quarter inventory cleanup should pave the way for the second quarter of Nike's brand new product.

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