Nike Earnings + Jacquemus Launch: You Win Some, You Lose Some

Plus breaking news: StockX announces staff layoffs of 8% of staff

Jorja Smith for Nike x Jacquemus | Photo: Zoe Ghertner

Nike Q4 earnings

Nike reported Q4 earnings today that can only be described as mid. Revenues for the quarter were $12.2 billion, down 1% compared to the prior year. By region, revenue was up 20% in Europe, Middle East and Africa, down 5% in North America, down 19% in China and up 15% in Asia Pacific.

While some of these numbers may sound horrible, Wall Street is nothing if not an expectation game and results for the quarter were right around what analysts expected. The company beat on revenue ($12.23B versus expectations of $12.06B) and earnings ($0.90 versus expectations of $0.80).

Still, while its full-year guide was just fine, numbers came under the bar for Q123. Again, not the worst catastrophe, but three firms decided they’d seen enough and reduced price targets for Nike, causing the stock to drop 6.99% today. What was Nike priced a year ago? $159.74. What was it priced at close today? A very deflated $102.7

I often say that bu…