Wall Street unimpressed by Nike earnings increases
22/03/2002
The world's largest athletic shoes and clothing brand, Nike, yesterday posted earnings of $126 million or 46 cents a share for the quarter ended February 28 2002 – a rise of 30% year on year.
Achieved largely on the strength of recovering U.S. footwear sales, the increase nevertheless failed to impress Wall Street where shares in the company fell 4% – the consensus being that the 6% increase posted in worldwide futures orders was below expectations.
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