Nike Earnings Set To Drop

Sat., Aug. 20, 1994

From Staff

Nike Inc. says its first-quarter earnings for fiscal 1995 likely will fall below forecasts because of low inventories and increased spending.

Nike predicted Thursday that earnings for the first quarter of $1.35 to $1.45 per share, down from analysts’ estimates of $1.45 to $1.75 per share.

Phil Knight, chairman of the athletic shoe and apparel company, said Nike agreed with analysts who forecast full-year earnings of $4.30 to $4.75 per share.

“The company believes any downward revisions in first-quarter earnings expectations will be recovered over the course of the year,” Knight said, but added, “we felt our shareholders should be alerted in advance to avoid any surprises.”

Nike earned $1.49 per share in the first quarter of the previous fiscal year, but had reached $3.96 per share by the end of the year on May 31.

The company will announce its first-quarter results Sept. 19.

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Nike Earnings Set To Drop

Jesse Tinsley

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