bullish
Asics (7936) | Q2 Preview; Guidance Revision
656 Views01 Aug 2023 12:10
Recent results from Nike bode well for Asics – declining inventories and strong top line performance in China. ASICS reports Q2 on 8th Aug, we expect an upward revision to full year numbers.
Boomeranged on Fri, 29 Sep 2023 05:14
Nike reported 1Q23 earnings. Revenue +2% to $12.9b (in line ).
Gross margin came in at 44.2% (better than expected 43.7%).
EPS +1% to $0.94 (far better than $0.75 expected).
My View: The real surprise comes from decline in inventory and higher gpm - the key issues that had been impacting Nike’s share price. Footwear sales in both the US/China up double-digit - the 2 key markets for ASICS. +ve
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