Beaverton, Oregon-based sporting goods maker $NKE said the company is seeing strong growth in China and western Europe. For 3Q16, nike.com delivered an impressive quarter with growth of 56%, helped by growth in both traffic and conversion.
$HRL expects improvements in its other segments to offset some of the earnings headwinds from Jennie-O Turkey Store for FY17. The company said the balanced model it has intentionally built in business will allow $HRL to overcome the challenges at Jennie-O Turkey Store.
Citing to challenging market conditions in the turkey industry, $HRL lowered its FY17 EPS guidance to $1.65-1.71 from $1.71-1.77. $HRL said it is tempering full-year outlook for the Jennie-O Turkey Store segment given shortfalls in 1Q and the expected continuation of pricing pressure due to low commodity turkey prices.
$HRL reported a rise in 1Q17 earnings driven by higher interest and investment income and lower interest expense. Net income rose to $235.3MM or $0.44 per share from $235.17MM or $0.43 per share last year. Net sales declined 1% to $2.28Bil. Adjusted sales increased 3%.
$TSLA said in terms of its $500MM cash generation outlook, part of
this will come from doing loans and cash sales of systems. As part of the
SolarCity acquisition, $TSLA committed to $150MM in synergies and some of the
cash generation will come from pursuing these synergies. The company is on
track to achieve this.
$FIT said that it will see the biggest downdraft in the US in terms of sell-in. EMEA has continued to be a strong growth market for the company and expects it to continue to grow in 2017 also. In Asia-Pac, $FIT is looking for just stability and to be somewhere in the neighborhood of flat YonY.