-====Nike (NKE) reported earnings on Tue 28 June 2016 (a/h)

NIKE beats by $0.01, reports revs in-line with gross margin below guidance; futures orders growth slows :

• Reports Q4 (May) earnings of $0.49 per share, $0.01 better than the Capital IQ Consensus of $0.48; revenues rose 6.0% year/year to $8.24 bln vs the $8.28 bln Capital IQ Consensus. up 9% on a currency-neutral basis.
• Revenues for the NIKE Brand were $7.7 billion, up 8 percent on a currency-neutral basis driven by double-digit growth in Western Europe, Greater China, Emerging Markets and Japan, including strong growth in Sportswear, Global Football and the Jordan Brand.
• Gross margin declined 30 basis points to 45.9% ( below guidance for GM flat to up slightly Y/Y) as higher average selling prices were more than offset by higher product costs, the negative impact of clearing excess inventory in North America and unfavorable changes in foreign currency exchange rates.
• Worldwide futures orders up 8%; 11% growth excluding currency changes vs. ests. near low teens.
  • Futures ex-FX by region: North America +6%, W. Eur. +11%, C&E Eur. +7%, Greater China +24%; Japan +15%; Emerging mkts +13%.
• During the fourth quarter, NIKE, Inc. repurchased a total of 9.0 million shares for ~$540 million as part of the four-year, $12 billion program approved by the Board of Directors in November 2015.
• Co will guide on the call: Previously guided for FY17 EPS growth in the low teens with high single digit revenue growth.
• Related: UA, DKS, FL, FINL, HIBB, SPWH.