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Nike’s Fiscal 2019 Second-Quarter Bottom Line Is Impressive

Nike’s Fiscal 2019 Second-Quarter Bottom Line Is Impressive

As we’ve mentioned, Nike’s (NKE) adjusted EPS rose 13% YoY (year-over-year) to $0.52 in the second quarter of fiscal 2019, beating analysts’ consensus estimate of $0.46. To compare, analysts expect Under Armour’s (UAA) adjusted EPS to be $0.04 in the fourth quarter of fiscal 2018, much better than the break-even earnings it reported in the fourth quarter of fiscal 2017. They expect Skechers’s (SKX) adjusted EPS to grow 9.5% YoY to $0.23. Nike’s higher revenue expanded its gross margin by 80 basis points to 43.8% in the second quarter. Nike expects its margins to improve in fiscal 2019, cushioned by Nike Direct and product innovations. In fiscal 2019, Nike now expects its gross margin to expand 70 basis points (versus its previous expectation of 50 basis points).