Nike Inc (NYSE:NKE) is all set to post fourth quarter fiscal 2014 earnings on Thursday, June 26, 2014 after the close of regular stock market trading hours. Consensus estimate at Wall Street are forecasting earnings per share of $0.75 per share. The company sales are expected to rise by 9.6% year over year. Revenue is expected to come in at $7.34 billion, substantially above $6.7 billion last year.
Canaccord not optimistic on Nike
Analysts at iEstimate are bullish, whereas Canaccord Genuity analyst, Camilo Lyon is expecting the company’s results to be below street’s outlook. Lyon is estimating the earnings per share to be $0.72. Analyst has, also, forecasted that Nike Inc (NYSE:NKE) will not upgrade its 2015 guidance.
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Till now, the June quarter has seen the most sluggish growth in the numbers for Nike Inc (NYSE:NKE) Analysts are hoping for a marginal rise in the Q4, which has been the most challenging quarter while Canaccord is expecting another dump in the earnings.
During the third quarter, the apparel company posted a 13% rise in the revenue over the corresponding quarter of the previous year. The gross margin, also, expanded by 30 basis point.
The management has forecasted a single digit growth in the fourth quarter, and an increase of 25 basis points in the gross margin on the back of higher margin products in the sales mix and higher sales from South America.
FIFA a big boost
For the quarter, Nike Inc (NYSE:NKE) is betting heavily on the FIFA World Cup to boost the sales. Rival Adidas, who is also the official match ball and apparel sponsor, is leaving no stone unturned to leverage its position. Also, to up its chances, Nike formed a