British News Agency

Nike (NKE) released its earnings report for the first quarter of fiscal year 2024 after the U.S. markets closed yesterday. The company's revenues came in at $12.94 billion, 0.47% below the expected $13 billion, while earnings per share were reported at $0.94, surpassing the expected $0.76. Revenues fell short of expectations due to weak demand in North America and the economic slowdown in China. Growth in the EMEA, Greater China, and Asia-Pacific Latin America regions partially offset the decline in North America. Sales in North America declined by 2%, while sales in China increased by 5% to $1.74 billion. The company noted that gross margin declined by 10 basis points to 44.2%, primarily due to high product costs and unfavorable currency exchange rates, and was largely offset by strategic pricing actions.

Severn Trent (SVT) announced record-level investments as part of its transformation plan. The plan, targeting a 31% real regulatory capital value increase, envisions expenditures of £12.9 billion over the next five years. The company also announced it would conduct a non-preemptive capital increase of £1 billion. The announcement states that continued financial resilience is expected to support the investments.

Source: Gedik Yatırım