Nike (NKE) 4Q Earnings Lags Estimates As Margins Shrink; Shares Tumble
Posted on June 28, 2012 at 16:13 PM EDT
Nike Inc. (NYSE:NKE) posted weaker-than-expected quarterly earnings amid drop in gross margins, and its shares tumbled 9.5 percent in extended trading on Thursday. Gross margins shrank 150 basis points to 42.8 percent from 44.3 percent, due mainly to rise in product costs and higher investments in the company's digital business. [More...]
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