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Nike earnings beat expectations, but revenue misses

"Looking ahead to the rest of fiscal 2018, we will ignite NIKE's next horizon of global growth through the strength of our brand, the power of our innovative products and the most personal, digitally-connected experiences in our industry."

"[Nike] this quarter has become more promotional, more of its footwear platforms have slowed, and NKE-levered retailers have been crippled by negative comps," Canaccord analyst Camilo Lyon wrote in a note to clients earlier this month.

"The company has shown little in the way of progress as it relates to its stale innovation pipeline, while a resurging Adidas has taken meaningful share to the point of causing panic internally, according to our industry contacts," Lyon added.

Retailers such as Foot Locker , Dick's Sporting Goods and Finish Line, all of which stock Nike products, have watched their shares tumble in recent months, with companies warning about pricing pressure and weaker margins as a result.

Nike, which relies heavily on its wholesale business, has made strides to expand organic sales channels, launching a "Consumer Direct Offense" earlier this summer.


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Nike earnings beat expectations, but revenue misses


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