Consumer Discretionary

NIKE, INC (NYSE:NKE) Q3 2023 revenue, earnings results beats Analysts forecast

Mar. 21, 2023 — NIKE, Inc. (NYSE:NKE) today reported fiscal 2023 financial results for its third quarter ended February 28, 2023. Analyst Forecast NIKE, Inc. (NYSE:NKE)  reported fiscal Q3 earnings  of $0.79 per diluted share, down from $0.87 a year earlier. Analysts polled by Capital IQ forecast $0.54. Revenue for the quarter ended Feb. 28 was $12.39 billion, up from $10.87 billion a year earlier. Analysts polled by Capital IQ projected $11.48 billion. Financian Third quarter reported revenues were $12.4 billion, up 14 percent compared to the prior year. NIKE Direct sales were $5.3 billion, up 17 percent on a reported basis NIKE Brand Digital sales increased 20 percent on a reported basis, Gross margin decreased 330 basis points to 43.3 percent, primarily due to higher markdowns to liquidate inventory; Net income was $1.2 billion, down 11 percent compared to prior year, and Diluted earnings per share was $0.79, decreasing 9 percent. Inventories for NIKE, Inc. were $8.9

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Southwest Airlines (NYSE:LUV) Expecting Q1 2023 Net Loss, Narrows Revenue Outlook

Southwest Airlines Co. (NYSE:LUV) said in a regulatory filing Tuesday it continues to expect a net loss, ‘excluding special items,’ in Q1, and has narrowed its operating revenue outlook to be up 21% to 23% from the previously expected outlook of an increase of 20% to 24%. Southwest Airlines said in its 8-K filing with the Securities and Exchange Commission ahead of it’s investor presentation that it is still expecting a Q1 negative revenue impact of $300 million to $350 million. The airline said, however, it continues to expect a profit for full year of 2023, also ‘excluding special items.’ And it said for Q2, bookings are expected to be in line with expectations.

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