=NIKE (NKE) reported earnings on Thur 28 June 2018 (a/h)

NIKE beats by $0.05, beats on revs; announces new $15B buyback 

• Reports Q4 (May) earnings of $0.69 per share, $0.05 better than the Capital IQ Consensus of $0.64; revenues rose 12.8% year/year to $9.79 bln vs the $9.4 bln Capital IQ Consensus. Revenues for the NIKE Brand were $9.3 billion, up 9 percent on a currency-neutral basis, driven by double-digit increases in NIKE Direct, international geographies, Sportswear, Global Football and growth in North America.
• Sales ex-FX: Footwear +8%, Apparel +15%; NA +3%, EMEA +10%, APac/LatAm +13%, China +25%
• Gross margin increased 60 basis points to 44.7% vs. flat to very slightly up from 44.1% last year, due primarily to higher average selling prices, margin expansion in NIKE Direct and favorable full-price sales mix.
• Inventories for NIKE, Inc. were $5.3 billion, up 4%, primarily driven by strong demand globally.
• Announces new $15B buyback when current program is completed in FY19