Nike report to spotlight overseas sales

Nike's 4Q results to shed light on sales trends in Europe, China

Associated Press

NEW YORK (AP) -- Nike Inc. reports its fiscal fourth-quarter results after the market closes Thursday, which should give an update on how the world's largest athletic shoe and clothing company is faring in various parts of the world.

The company, based in Beaverton, Ore., has enjoyed a resurgence in North America on the strength of its namesake brand, basketball shoes and other products.

But its performance has been weaker in other parts of the world. In China, for example, the company has been working to reduce inventory and offer products that better reflect shoppers' tastes.

The company may also provide more details about the recently announced departures of some executives. Cowen analyst Faye Landes said the company's deep bench should limit the impact of the changes.

Analysts polled by FactSet, on average, expect Nike to earn 74 cents per share on revenue of $6.63 billion for the March-to-May period. In the year-ago period, Nike's net income totaled $1.17 per share on revenue of $6.47 billion.

Nike's stock rose 40 cents to $62.25 in premarket trading Thursday.

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