Rising costs and slowdown hit Nike profits

By The Value Investor: Shares of Nike (NKE) are rallying in a response to a strong set of results, released after the market close on Thursday. The global developer, marketer and seller of athletic footwear, sporting equipment, apparel and accessories reported strong third quarter results. Third Quarter Results

By Aaron Murdoch:Nike Inc. (NKE) released earnings after the bell on Thursday, June 28th, missing expectations by twenty cents per share. EPS dropped 6% year-over-year on revenue that increased 12%, 14% excluding currency changes, to $6.5 billion.

Pre-holiday sales and profit tumbled at Sears Canada Inc., according to a report from parent company Sears Holdings Corp., which reported the sudden exit of its chief executive late Monday. Sears Canada acknowledged that its fourth-quarter adjusted earnings before taxes, depreciation and amortization will be about half the level of last year’s fourth quarter of US$97-million. Same-store sales, a key measure of retail performance, slid 5.8% in the nine weeks ended Dec. 29.

By Valuentum: Nike (NKE) is one of the most recognizable brands on earth. With sales of over $20 billion in fiscal year 2011, it’s easily the largest athletic retailer on the planet. After growing revenues 9% in a tough retail environment, and on an enormous base of $19 billion, we think Nike is a best-in-class company, and we are initiating coverage with a fair value of $95.