Nike (NKE) - Get NIKE, Inc. (NKE) Report reported stronger-than-expected top line earnings following the close of Thursday trading, but warned that supply chain disruptions could impact its business more than previously anticipated.
The shoemaker reported adjusted earnings of $1.16 per share, exceeding consensus estimates of $1.11. However, revenue of $12.2 billion came in just short of an expected $12.465 billion.
Nike warned longer transit times, labor shortages and prolonged production shutdowns in Vietnam could impact revenue heading into the holiday season, lowering its sales forecast for fiscal 2022.
As much of Wall Street focuses on Nike's supply chain woes, Jim Cramer said China could prove another major headwind. Watch his full take in the video above.
Recap TheStreet Live: Everything Jim Cramer Is Watching 9/24/21