Nike (NYSE:NKE) reports sales rose 8% in FQ2 on a constant currency basis.
Revenue by brand (ex-currency): Nike +8% to $7.7B, Converse +5% to $416M.
Apparel sales increased 4% during the quarter, while footwear sales rose 3%.
Gross margin -140 bps Y/Y to 44.2% as higher product costs and F/X factored in. Analysts expected a mark of 44.3%.
The effective tax rate was 24.4% for the period vs. 19.1% last year.
Nike is due to give out future orders guidance on the conference call. The consenus estimate is +5.3% (constant currency).
Previously: Nike beats by $0.07, beats on revenue (Dec. 20)
NKE +3.03% AH after hours to $53.36.
Fuente: Seeking Alpha
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