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Nike Q4 Earnings Highlights: Revenue Miss, EPS Beat, 'Taking Our Near-Term Challenges Head-On'

Apparel and footwear company Nike Inc (NYSE:NKE) reported fourth-quarter financial results after the market close Thursday. Here are the key highlights. What Happened: Nike reported fourth-quarter revenue of $12.6 billion, down 2% year-over-year. The revenue total missed a Street consensus estimate of $12.91 billion, according to data from Benzinga Pro. Nike Direct revenue was $5.1 billion in the fourth quarter, down 8% year-over-year. Wholesale revenues were $7.1 billion in the fourth quarter, up 5% year-over-year. Converse revenue was $480 million in the fourth quarter, down 18% year-over-year. The company said it had growth in several regions including China, but was offset by weakness in North America. Nike’s gross margin was up 110 basis points to 44.7% in the fourth quarter thanks to ...