Nike's Stock Slips After Future Orders Outlook Disappoints

Shares of Nike Inc. fell 2.2% in after-hours trade on Thursday, after the athletic apparel seller's downbeat outlook for future orders offset better-than-expected profit and sales. The company said it expects worldwide futures orders for Nike branded footwear and apparel, that are scheduled for delivery from the five-month period from December 2014 through April 2015, to be 7% higher than the same period a year ago, below expectations of 11% growth. The stock had gained 2.7% during Thursday's regular session, to close 2.3% below the record closing high of $99.33 reached on Dec. 5. Earlier, the company reported per-share earnings for the quarter ended Nov. 30 of 74 cents and revenue of $7.4 billion, topping the FactSet consensus estimates of 70 cents and $7.15 billion, respectively.