3Mon·

21.03.2025

Nike exceeds forecasts despite declines + Fedex lowers business outlook + Micron Technology surprisingly optimistic about the third quarter + Xiaomi 2024 with record sales


Nike $NKE (-0.34%)exceeds forecasts despite declines

  • The sporting goods giant Nike continues to struggle with declining sales even under a new boss.
  • In the third quarter (to the end of February) of the 2024/25 financial year, revenue fell by nine percent year-on-year to 11.3 billion US dollars (10.4 billion euros).
  • Nike thus slightly exceeded the expectations of analysts, who had expected an average of just over eleven billion dollars.
  • On balance, the quarterly profit fell by 32 percent to 794 million dollars.
  • However, Nike's earnings per share of 54 US cents clearly exceeded the analysts' forecast of 29 cents.
  • In an initial reaction, the share price rose by more than three percent in US after-hours trading.
  • One trigger for the decline in turnover was a slump in business in China.
  • In October, former top manager Elliott Hill returned to Nike from retirement to take over the top job.
  • Part of his predecessor John Donahoe's strategy was to focus more on direct sales.
  • The downside, however, was that the shelf space given up by Nike in stores was filled by products from competitors.
  • This made the rivals more visible to consumers.


Fedex $FDX (+0.26%)lowers business outlook

  • Weak demand is making the US logistics group Fedex more cautious for the 2024/25 financial year, which runs until the end of May.
  • According to a statement issued on Thursday evening, Group CEO Raj Subramaniam now expects stable to slightly declining sales, after previously assuming a roughly stable development.
  • According to the manager, the revised outlook reflects the ongoing weakness and uncertainty in the US industry.
  • Demand for shipping services among business customers is suffering as a result.
  • Adjusted for special effects, earnings per share are expected to reach 18.00 to 18.60 US dollars instead of 19 to 20 dollars.
  • The average analyst estimate is above the upper end of the new target - and the rival of DHL Group and UPS now intends to invest less money in the business than previously planned.
  • In the third quarter of the past financial year, Fedex increased its turnover by a good two percent to 22.2 billion US dollars (20.4 billion euros).
  • Adjusted earnings per share grew by 17 percent to 4.51 dollars.
  • On average, analysts had expected slightly higher earnings per share.


Micron Technology $MU (+0.77%)is surprisingly optimistic about the third quarter

  • The manufacturer of DRAM and NAND memory chips Micron Technology is more optimistic than expected about the current third financial quarter due to AI-driven demand from data center operators.
  • The company is also confident about demand from consumer electronics manufacturers.
  • Sales in the third financial quarter should therefore reach 8.80 billion US dollars plus/minus 200 million dollars, the company stated on Thursday evening after the US stock exchange closed.
  • Adjusted for special effects, earnings per share are expected to reach 1.57 dollars - plus or minus 10 cents.
  • The Micron share price rose by almost five percent in US after-hours trading.
  • The outlook could signal an upturn in demand from smartphone and PC manufacturers, which has been rather sluggish across the industry for some time.
  • During the coronavirus pandemic, these manufacturers had filled their warehouses as full as possible due to a shortage of parts, but were then left with excessively high inventories after the end of the pandemic, which first had to be reduced.
  • This also affected manufacturers of semiconductor wafers such as the German Siltronic Group.
  • The wafers are the starting product for computer chips.
  • In the second quarter (ending February 27), Micron increased its turnover by 38 percent year-on-year to 8.05 billion dollars (7.4 billion euros).
  • The bottom line profit doubled to just under 1.6 billion dollars.


Xiaomi $1810 (+2%)2024 with record turnover of RMB 365.9 billion

  • Record year for Xiaomi
  • Total sales in 2024 increased by 35 percent to RMB 365.9 billion
  • Q4 over RMB 100 billion for the first time
  • Adjusted net profit grows by 41.3 percent to RMB 27.2 billion.
  • Strong growth in key areas: smartphone sales increase to RMB 191.8 billion (+21.8%)
  • Electric vehicles and new initiatives generate RMB 32.8 billion in sales
  • IoT and lifestyle products grow by 30% to RMB 104.1 billion
  • Successful push into the ultra-premium segment: Xiaomi 15 Ultra and SU7 Ultra with strong sales figures, secured orders for SU7 Ultra exceed 10,000 units - annual target achieved ahead of schedule.
  • Technological innovation and AI integration: R&D investments increase by 25.9% to RMB 24.1 billion, over 42,000 patents worldwide
  • HyperOS 2 strengthens networking and AI applications in the "Human x Car x Home" ecosystem.


Friday: Stock market dates, economic data, quarterly figures


  • ex-dividend of individual stocks
  • BB Biotech CHF 1.80
  • Walmart 0.24 USD


  • Quarterly figures / company dates Europe
  • 07:00 Fuchs annual result
  • 07:30 Salzgitter annual result
  • 10:00 Fuchs | Salzgitter PK
  • 11:00 Salzgitter Analysts' Conference
  • 12:00 Fuchs Analyst Conference
  • No time specified: BASF Annual Report


  • Economic data

01:50 JP: Nationwide consumer prices February Forecast: n/a previous: +4.0% yoy Core consumer prices (ex food) Forecast: n/a previous: +3.2% yoy

08:45 FR: Business Climate Index March PROGNOSE: 97 previous: 97

10:00 EU: ECB, current account euro area January

16:00 EU: Eurozone Consumer Confidence Index (flash estimate) March FORECAST: -13.0 previous: -13.6

Untimed: BE: EU Summit, Brussels

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13 Comments

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The current development at Nike is worrying. When can we expect a turnaround? Does an investment in this share still make sense at present? 🫡
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Nike is boycotted just like Starbugs. I wouldn't buy it
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@CashflowG Really? I'll have to do some research
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My money is more likely to go to $DECK. I just have to take a look at the supply chain first. In my opinion, this analysis could be a game changer in the retail sector.
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My buy is 85€. I remain relaxed
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Rightly so. Not too expensive. 🫰 Consumption will continue to fall
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