NIKE Down 5% In Pre-Market As Future Orders Disappoint (NKE)

NIKE, Inc. NKE is down over 5% in pre-market trading this morning, despite beating earnings estimates yesterday. This is due to future orders from the Oregon-based company coming in lower than Wall Street expected. To combat rising input costs, Nike said it might undertake some targeted price increases. Future orders according to the company rose 11%, whereas Wall Street was expecting 12-13%. "They didn't beat rising expectations for future orders and that's why the stock's down," said Jon Fisher, portfolio manager with Fifth Third Asset Management, which owns Nike shares. "As supply and demand find a new normal in the recovering economy, our industry is going to experience margin pressure due to rising input costs," Nike CEO Mark Parker said during the conference call. Nike reported earnings of 94 cents a share on revenues of $4.84 billion. Wall Street expected 88 cents on $4.81 billion. Breaking down the numbers, Nike said revenue in North America rose 14% to $1.7 billion, while sales in emerging markets and greater China rose 24% and 20%, respectively.