Nike Reports Q4 Sales Beat

Nike Inc NKE shares fell Thursday afternoon after reporting a fourth-quarter sales beat.

Fourth-quarter earnings came in at 62 cents per share, which may not compare to the 66 cent estimate. Sales came in at $10.184 billion, beating estimates by $14 million.

"FY19 was a pivotal year for NIKE as we continue to bring our Consumer Direct Offense to life throughout the marketplace," said Mark Parker, Chairman, President and CEO. "Our distinctive innovation and digital advantage led to accelerated growth across our complete portfolio, while our Brand fueled deeper relationships with consumers around the globe."

Highlights

• Revenues for Nike increased 4%
• Revenues for Converse were flat
• Effective tax rate was 20.4%

Nike's stock closed higher by 1.3% at $83.66 per share and traded down about 1% in the after-hours session at time of publication.

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