Q2FY17 diluted earnings per share up 11% at Nike

23 Dec '16

1 min read

Diluted earnings per share went up 11 per cent year over year to $0.50, while net income rose 7 per cent to $842 million at sports goods and sportswear retailer Nike in the three months ended November 30, 2016. This increase was driven by revenue growth, selling and administrative expense leverage, partially offset by lower gross margin.

However, revenues grew slower at 6 per cent over a fiscal ago quarter to reach $8.2 billion and up 8 per cent, on a currency neutral basis in the second quarter of fiscal 2017.

For the reporting quarter, gross margin fell 140 basis points year on year to 44.2 per cent, although higher average selling prices were more than offset by higher product costs, unfavourable changes in foreign exchange rates and the impact of higher off price sales.

The effective tax rate for the quarter under review climbed higher at 24.4 per cent as against 19.1 per cent in the same quarter of earlier fiscal. (AR)

Fibre2Fashion News Desk – India

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