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Nike's 3Q Results Impress as Margins Expand

Nike (NYSE:NKE) posted fiscal third-quarter results on Thursday that beat Wall Street's expectations as the iconic apparel maker offset currency headwinds with stronger revenue and margin expansion.Shares of the Dow Industrials member rose 2% in extended trading on the earnings and revenue beat.Nike said it earned $685 million, or 76 cents per share, last quarter, compared with $866 million, or 73 cents per share, a year earlier. Analysts had called for more modest EPS of 72 cents.Revenue rose 13% to $6.97 billion, topping the Street's view of $6.81 billion. Gross margins ticked up to 44.5% from 44.2% thanks to higher average prices and growth in the higher margin direct-to-consumer business.Nike reported currency neutral futures orders growth of 14% as of the end of February, exceeding the Street's view of 11.8%. North American futures orders were up 9%, compared with estimates for 10.6%.Emerging market futures orders soared 24% as of the end of the third quarter, compared with 30% in...

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