This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Nike, Micron: After-Hours Trading (Update 1)

Updated from 5:12 p.m. ET to include latest share prices, additional information on Wet Seal and Cost Plus.

NEW YORK ( TheStreet) -- Shares of Nike (NKE - Get Report) ticked up in late trades Thursday after the sneaker maker reported an above-consensus profit for its fiscal third quarter as it kept a tight lid on expenses in order to counter margin pressure from higher product costs.

The Beaverton, Ore.-based company posted a profit of $560 million, or $1.20 a share, on revenue of $5.85 billion for the quarter ended Feb. 29, beating the average estimate of analysts polled by Thomson Reuters for earnings of $1.17 a share on revenue of $5.82 billion in the period.

Gross margin came in at 43.8% for the quarter, down from 45.8% a year earlier, but selling, general and administrative expenses grew slower than revenue, totaling $1.8 billion for the period, or 30.8% of revenue. In the same period a year earlier, Nike said SG&A expenses totaled $1.64 billion, or 32.2% of revenue.

The stock was last quoted at $112.26, up 1.1%, on volume of nearly 500,000, according to Based on Thursday's regular-session close at $110.99, the shares were up 14.6% so far in 2012 and 44% over the past year, hitting a 52-week high of $112.97 earlier this week.

"Our relentless focus on innovation delivered powerful new products and services for athletes and consumers, and continues to drive value to our shareholders," said Mark Parker, the company's president and CEO, in a statement. "The environment remains volatile, but I'm optimistic about the future. We're starting a great season of major sports events and we have a pipeline full of innovation to fuel growth over the long term."

Nike said inventories stood at $3.36 billion as of Feb. 29, up 32% from $2.54 billion at the same time last year. Worldwide futures orders -- those slated for delivery in the March-July timeframe -- totaled $9.4 billion, up 15% from a year ago.

Check out TheStreet's quote page for Nike for year-to-date share performance, analyst ratings, earnings estimates and much more.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
NKE $58.94 0.00%
MU $10.75 0.00%
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs