Investor Ideas, Trading Ideas and Stocks to Watch : #PlaybyPlay #Podcast: NIKE (NYSE: $NKE) Posts Full Year Results, and SIGNA Sports United (NYSE: 4SSU) Reports Results for H1 FY23

Friday, June 30, 2023

#PlaybyPlay #Podcast: NIKE (NYSE: $NKE) Posts Full Year Results, and SIGNA Sports United (NYSE: 4SSU) Reports Results for H1 FY23

#PlaybyPlay #Podcast: NIKE (NYSE: $NKE) Posts Full Year Results, and SIGNA Sports United (NYSE: 4SSU) Reports Results for H1 FY23

New Women’s Pro Hockey League to Launch in January, and James Harden Picks Up $35.6M Contract Option for Next Season with 76ers

Vancouver, Kelowna, Delta, BC, June 30, 2023 Investorideas.com, a global investor news source issues today’s edition of Play by Play covering what’s new in sports and esports headlines plus recent news from publicly traded companies..

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https://www.investorideas.com/Audio/Podcasts/2023/063023-Sports.mp3

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https://www.investorideas.com/news/2023/play-by-play/06301NKE-SSU.asp

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NIKE (NYSE:NKE) has reported its financial results for its fiscal 2023 fourth quarter and full year ended May 31, 2023. Highlights include a full year revenue of $51.2 billion – up ten percent compared to the year prior, and a Q4 revenue of $12.8 billion. John Donahoe, President & CEO, NIKE, Inc., said:

"NIKE’s strong results make clear that our strategy is working. FY23 was a milestone year for NIKE as our unique advantages continue to drive competitive separation. Our investment in innovation and our digital leadership are fueling broad-based growth across our portfolio of brands, as we create value by serving the future of sport."

SIGNA Sports United (NYSE:SSU) has reported its results for H! FY23. Highlights include a net revenue of €441 million EUR ($481 million USD), and 6.1 million active customers. Stephan Zoll, the company’s CEO, explained:

“In response to the demand outlook in the near-term, we have conducted a comprehensive strategic repositioning of the business with the aim of enabling a return to profitable growth and positive cash flow. In addition, I am pleased to welcome key hires across our Bike and Tennis segments with the experience and industry insight needed to deliver the next chapter of SSU’s growth story. Though our results in H1 FY23 have suffered as the market navigates another period of disruption, I am confident that the worst distortions are behind us and we remain fully aligned behind our renewed operating approach with a clear course toward long-term value creation."

New Women’s Pro Hockey League to Launch in January, and James Harden Picks Up $35.6M Contract Option for Next Season with 76ers

The Associated Press reports that a new women’s pro hockey league will launch in January of 2024 following a deal brokered between rival factions in the sport. According to the article, Los Angeles Dodgers co-owner Mark Walter, his wife Kimbra, team president Stan Kasten, and tennis legend Billie Jean King will help to run the league “after Walter’s firm purchased unspecified “assets” of the Professional Hockey Federation (PHF).”

The PHF will cease to be, as the new league brings together “North America’s most accomplished female players and would likely include the more talented players from Europe and Asia who are already competing in the PHF.”

The AP also reports that NBA star James Harden has picked up his $35.6 million contract option for next season with the Philadelphia 76ers, and the franchise is exploring trades to move him. An unnamed source told the AP that it wasn’t definite Harden would be traded, but that he had “a desire to win a championship …in Philadelphia or with another contender.” Fellow 76er Tobias Harris commented on Harden’s return:

“There’s not many guys that can go out and drop 40 in a playoff game. I think that goes under the radar a little bit too much. I think James is a phenomenal player, somebody who works his tail off, and somebody’s who’s an overall great leader. Of course I want him back.”

Sam Mowers, Investorideas.com

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