2011年6月25日星期六

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  and price-sensitive consumers, profit growth could be elusive in the next quarter. For Nike (NKE), expanding profits will depend
one piece bathing suit heavily on increasing sales, Goldman Sachs analyst Michelle Tan writes in a note today previewing Nike’s fourth quarter earnings release on Monday.
Nike’s US footwear sales are likely to be strong this quarter, but tough comparisons to last year’s healthy World Cup sales in Europe and slow sales in Japan due to March’s nuclear crisis will most likely balance the U.S. sales acceleration, according to Tan, who rates shares at Neutral.
While Goldman is above consensus for the quarter ($1.21 versus consensus of $1.16) and expects Nike’s positive sales trends to continue in the U.S., Burberry Handbags they believe rising costs and a tough global sales environment could hurt the stock price beyond this quarter.
“Shares tend to perform best when gross profit dollar growth is accelerating or stably robust, and track/underperform the S&P in periods of weak/weakening gross profit growth,” lead analyst Michelle Tan writes.
Goldman also expects that the company’s 2012 outlook could come under pressure.
“Beyond the current quarter, Tiffany Rings     we also see some risk in the fiscal 2012 outlook, as the market seems to have discounted management’s comments that the operating margin will be down as continuing gross margin ed hardy bathing suit  pressures more than offset SG&A leverage,” Tan writes.
Nike’s earnings came in below estimates last quarter, as it reported net income of $1.08 per share versus the 

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