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Nike rallies after solid guidance, Amazon pilot update

Published 06/30/2017, 07:32 AM
© Reuters.  Nike rallies after solid guidance, Amazon pilot update
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  • Nike (NYSE:NKE) confirms that it sell certain products on Amazon (NASDAQ:AMZN) under a new pilot program. The partnership will start with a small product assortment across footwear in the U.S.
  • "We're in the early stages, but we really look forward to evaluating the results of the pilot," said CEO Mark Parker on the conference call.
  • Nike guidance: The company says it expects FY18 sales growth in the mid-to-high single digit range. Global futures orders were reported as flat vs. +1.25% consensus estimate. FY18 gross margin is seen narrowing by about 50 bps.
  • Nike earnings conference call transcript
  • Previously: Nike beats by $0.10, beats on revenue (June 29)
  • Previously: Global markets help Nike fly past estimates (June 29)
  • Shares of Nike are up 6.64% in premarket action.
  • Now read: Nike: Shareholders Will Not Be Rewarded For Holding This Stock


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