Nike Inc shares dropped -4.72% in the past 3 months , while during the preceding 30 days NKE shares improved by 3.11 %, Nike Inc shares trade only 6.4% above its 52 week low.
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In a press release shared today, Nike Inc. has unveiled its financial results for the third quarter of fiscal year 2024. The global sportswear giant reported a marginal increase in revenues, both on a reported and currency-neutral basis. However, while Nike Direct revenues saw a slight uptick, digital sales for the Nike Brand experienced a decline. Let s delve into the specifics of this report to understand the context and implications for the industry. I. Revenue Breakdown: - Nike s third quarter revenues reached $12.4 billion, reflecting a slight increase on both a reported and currency-neutral basis. - Nike Direct, the company s direct-to-consumer segment, witnessed revenues of $5.4 billion, showing a modest rise when compared to the previous year. - Contrarily, Nike Brand Digital sales witnessed a decrease of 3 percent on a reported basis and 4 percent on a currency-neutral basis. - Wholesale revenues generated $6.6 billion during this quarter, indicating a positive growth of 3 percent.
Nike, Inc., the renowned global sportswear company, has announced a significant increase in its quarterly dividend payout. The company s Board of Directors approved a cash dividend of $0.370 per share on its outstanding Class A and Class B Common Stock, representing a notable 9 percent uptick from the prior quarterly dividend rate of $0.340 per share. This announcement highlights Nike s commitment to rewarding its shareholders while further solidifying its position as a leading player in the consumer discretionary sector. The declared dividend is scheduled to be payable on January 2, 2024, to shareholders of record as of December 4, 2023. Nike s consistent track record of delivering returns to its investors is exemplified by this latest move, which aims to enhance shareholder value and attract greater investor interest. With this increase, Nike showcases its dedication to prioritizing the interests of its stakeholders and maintaining their continued support.
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