NIKE, INC (NYSE:NKE) Q3 2023 revenue, earnings results beats Analysts forecast

/ / Consumer Discretionary /

Mar. 21, 2023 — NIKE, Inc. (NYSE:NKE) today reported fiscal 2023 financial results for its third quarter ended February 28, 2023. Analyst Forecast NIKE, Inc. (NYSE:NKE)  reported fiscal Q3 earnings  of $0.79 per diluted share, down from $0.87 a year earlier. Analysts polled by Capital IQ forecast $0.54. Revenue for the quarter ended Feb. 28 was $12.39 billion, up from $10.87 billion a year earlier. Analysts polled by Capital IQ projected $11.48 billion. Financian Third quarter reported revenues were $12.4 billion, up 14 percent compared to the prior year. NIKE Direct sales were $5.3 billion, up 17 percent on a reported basis NIKE Brand Digital sales increased 20 percent on a reported basis, Gross margin decreased 330 basis points to 43.3 percent, primarily due to higher markdowns to liquidate inventory; Net income was $1.2 billion, down 11 percent compared to prior year, and Diluted earnings per share was $0.79, decreasing 9 percent. Inventories for NIKE, Inc. were $8.9

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Southwest Airlines (NYSE:LUV) Expecting Q1 2023 Net Loss, Narrows Revenue Outlook

/ / Consumer Discretionary /

Southwest Airlines Co. (NYSE:LUV) said in a regulatory filing Tuesday it continues to expect a net loss, ‘excluding special items,’ in Q1, and has narrowed its operating revenue outlook to be up 21% to 23% from the previously expected outlook of an increase of 20% to 24%. Southwest Airlines said in its 8-K filing with the Securities and Exchange Commission ahead of it’s investor presentation that it is still expecting a Q1 negative revenue impact of $300 million to $350 million. The airline said, however, it continues to expect a profit for full year of 2023, also ‘excluding special items.’ And it said for Q2, bookings are expected to be in line with expectations.

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Tyson Foods (NYSE:TSN) will close two U.S. chicken plants involving nearly 1,700 employees

/ / Consumer Staples /

Tyson Foods (TSN. US) said Tuesday that it will close two U.S. chicken plants on May 12, involving nearly 1,700 employees combined. The closures of those plants show that the nation’s largest meat company is still grappling with how to improve its chicken business, which has struggled for years. According to a statement, Tyson Foods will close a plant in Glen Allen, Virginia, which employs 692 people, and a plant in Van Buren, Arkansas, which employs 969 people. The company said chicken demand will shift to other plants as part of a strategy to tap into each plant’s full capacity. “The current size and inability to improve operations economically led to the difficult decision to close these facilities,” Tyson Foods said. ”

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