Nike Underwhelms Me and Its Stock Needs a Serious Haircut

·6 min read
Nike Underwhelms Me and Its Stock Needs a Serious Haircut

Nike released the firm's fiscal third quarter financial results on Tuesday afternoon. For the three month period ended February 28th, Nike posted GAAP EPS of $0.79 on revenue of $12.39B. Cost of sales increased 21% to $7.019B, bringing gross profit up 6% to $5.371B and gross margin down to 43.3% from 46.6% for the year ago comp.