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Short-Term Investor Stock NKE Gains 10.3%

The stock, NIKE Inc. (NKE), featured on our 'Short-Term Investor' on September 25, 2019, at an opening price of $91.78. On December 19, 2019, the stock touched a new 52-week high of $101.27, representing a gain of 10.3%. The stock closed yesterday's trade at $101.15.

Why we published this stock?

Nike Inc. reported stellar Q1 results.

First-quarter profit was $1.37 billion or $0.86 per share, compared with last year's profit of $1.09 billion or $0.67 per share. On average, 25 analysts polled by Thomson Reuters expected earnings of $0.70 per share for the quarter.

The company said profit growth was driven largely by strong revenue growth and gross margin expansion.

Revenues for the quarter rose 7% to $10.66 billion from $9.95 billion last year. Analysts had a consensus revenue estimate of $10.44 billion for the quarter.

Gross margin rose to 150 basis points to 45.7%, driven mainly by higher average selling prices and margin expansion in Nike direct.

"Our strong start to FY20 highlighted the depth and balance of NIKE's complete offense," said Mark Parker, Chairman, President and CEO, NIKE Inc. "NIKE's strong product innovation, combined with our industry-leading digital experiences, continue to deepen our consumer relationships around the world."

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