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The best video games of the year so far
—RG
1. The Legend of Zelda: Tears of the Kingdom
Developer: Nintendo EPD
Where to play: Nintendo Switch
Princess Zelda is missing. Ganondorf has returned, somehow, and he’s really hot. So an age-old hero in a green tunic has to step in. We all know the beats — how could you possibly make that into anything new?
Tears of the Kingdom definitely didn’t seem like it was poised to make that happen: a sequel to one of the most popular Zelda games ever made, originally conceived as DLC, and built on the same map. Yet, it is something else entirely. It’s not just that Breath of the Wild was a rough draft for Tears of the Kingdom — it’s that the entire Zelda series was a collection of stepping stones that led in winding, influential pathways to this wacky, wonderful, and thoroughly new world of Hyrule.
I mean, Ultrahand alone.
|
15701
|
The best video games of the year so far
—RG
1. The Legend of Zelda: Tears of the Kingdom
Developer: Nintendo EPD
Where to play: Nintendo Switch
Princess Zelda is missing. Ganondorf has returned, somehow, and he’s really hot. So an age-old hero in a green tunic has to step in. We all know the beats — how could you possibly make that into anything new?
Tears of the Kingdom definitely didn’t seem like it was poised to make that happen: a sequel to one of the most popular Zelda games ever made, originally conceived as DLC, and built on the same map. Yet, it is something else entirely. It’s not just that Breath of the Wild was a rough draft for Tears of the Kingdom — it’s that the entire Zelda series was a collection of stepping stones that led in winding, influential pathways to this wacky, wonderful, and thoroughly new world of Hyrule.
I mean, Ultrahand alone. Just absolutely slathering pieces of wood in what amounts to magical Gorilla Glue and watching in wonder as the game’s physics engine roars to life in response.
|
15702
|
The best video games of the year so far
Ganondorf has returned, somehow, and he’s really hot. So an age-old hero in a green tunic has to step in. We all know the beats — how could you possibly make that into anything new?
Tears of the Kingdom definitely didn’t seem like it was poised to make that happen: a sequel to one of the most popular Zelda games ever made, originally conceived as DLC, and built on the same map. Yet, it is something else entirely. It’s not just that Breath of the Wild was a rough draft for Tears of the Kingdom — it’s that the entire Zelda series was a collection of stepping stones that led in winding, influential pathways to this wacky, wonderful, and thoroughly new world of Hyrule.
I mean, Ultrahand alone. Just absolutely slathering pieces of wood in what amounts to magical Gorilla Glue and watching in wonder as the game’s physics engine roars to life in response. I went into Tears of the Kingdom thinking I wouldn’t build much — I’d just follow the story and get through it; I left feeling like a genius engineer, building all manner of bizarre contraptions (but mostly long bridges) to sail through skies and trundle over mountaintops.
|
15703
|
The best video games of the year so far
Yet, it is something else entirely. It’s not just that Breath of the Wild was a rough draft for Tears of the Kingdom — it’s that the entire Zelda series was a collection of stepping stones that led in winding, influential pathways to this wacky, wonderful, and thoroughly new world of Hyrule.
I mean, Ultrahand alone. Just absolutely slathering pieces of wood in what amounts to magical Gorilla Glue and watching in wonder as the game’s physics engine roars to life in response. I went into Tears of the Kingdom thinking I wouldn’t build much — I’d just follow the story and get through it; I left feeling like a genius engineer, building all manner of bizarre contraptions (but mostly long bridges) to sail through skies and trundle over mountaintops.
I still catch my breath remembering that first time diving deep into the darkness of the Depths — the amazement I felt upon discovering a whole other world underneath the one I knew, filled with skeleton horses and gloom-splattered Bokoblins.
|
15704
|
The best video games of the year so far
I mean, Ultrahand alone. Just absolutely slathering pieces of wood in what amounts to magical Gorilla Glue and watching in wonder as the game’s physics engine roars to life in response. I went into Tears of the Kingdom thinking I wouldn’t build much — I’d just follow the story and get through it; I left feeling like a genius engineer, building all manner of bizarre contraptions (but mostly long bridges) to sail through skies and trundle over mountaintops.
I still catch my breath remembering that first time diving deep into the darkness of the Depths — the amazement I felt upon discovering a whole other world underneath the one I knew, filled with skeleton horses and gloom-splattered Bokoblins.
And I remember when I realized where Princess Zelda really was… and then, many hours later, learning where she really was.
I never wanted to stop playing Tears of the Kingdom.
|
15705
|
The best video games of the year so far
I mean, Ultrahand alone. Just absolutely slathering pieces of wood in what amounts to magical Gorilla Glue and watching in wonder as the game’s physics engine roars to life in response. I went into Tears of the Kingdom thinking I wouldn’t build much — I’d just follow the story and get through it; I left feeling like a genius engineer, building all manner of bizarre contraptions (but mostly long bridges) to sail through skies and trundle over mountaintops.
I still catch my breath remembering that first time diving deep into the darkness of the Depths — the amazement I felt upon discovering a whole other world underneath the one I knew, filled with skeleton horses and gloom-splattered Bokoblins.
And I remember when I realized where Princess Zelda really was… and then, many hours later, learning where she really was.
I never wanted to stop playing Tears of the Kingdom. I did stop, eventually — the year of 2023 in video games has spoiled us all with hearty meals and sweet desserts — but I never stopped thinking about it.
|
15706
|
The best video games of the year so far
I went into Tears of the Kingdom thinking I wouldn’t build much — I’d just follow the story and get through it; I left feeling like a genius engineer, building all manner of bizarre contraptions (but mostly long bridges) to sail through skies and trundle over mountaintops.
I still catch my breath remembering that first time diving deep into the darkness of the Depths — the amazement I felt upon discovering a whole other world underneath the one I knew, filled with skeleton horses and gloom-splattered Bokoblins.
And I remember when I realized where Princess Zelda really was… and then, many hours later, learning where she really was.
I never wanted to stop playing Tears of the Kingdom. I did stop, eventually — the year of 2023 in video games has spoiled us all with hearty meals and sweet desserts — but I never stopped thinking about it. Every now and then, I picked my Switch back up to seek out another Lightroot, or solve another shrine’s puzzle, until there were none left.
|
15707
|
The best video games of the year so far
I still catch my breath remembering that first time diving deep into the darkness of the Depths — the amazement I felt upon discovering a whole other world underneath the one I knew, filled with skeleton horses and gloom-splattered Bokoblins.
And I remember when I realized where Princess Zelda really was… and then, many hours later, learning where she really was.
I never wanted to stop playing Tears of the Kingdom. I did stop, eventually — the year of 2023 in video games has spoiled us all with hearty meals and sweet desserts — but I never stopped thinking about it. Every now and then, I picked my Switch back up to seek out another Lightroot, or solve another shrine’s puzzle, until there were none left. And then I’d just wander, collecting ingredients, talking to Great Fairies, imagining the next adventure.
Tears of the Kingdom feels like someone holding my hands very close as they lean in to whisper, with eyes twinkling, “Can I tell you something?” The ride was wild; I laughed, I cried.
|
15708
|
The best video games of the year so far
And I remember when I realized where Princess Zelda really was… and then, many hours later, learning where she really was.
I never wanted to stop playing Tears of the Kingdom. I did stop, eventually — the year of 2023 in video games has spoiled us all with hearty meals and sweet desserts — but I never stopped thinking about it. Every now and then, I picked my Switch back up to seek out another Lightroot, or solve another shrine’s puzzle, until there were none left. And then I’d just wander, collecting ingredients, talking to Great Fairies, imagining the next adventure.
Tears of the Kingdom feels like someone holding my hands very close as they lean in to whisper, with eyes twinkling, “Can I tell you something?” The ride was wild; I laughed, I cried. And I can’t wait for the next time, when it’s completely different. —M. Myers
|
15709
|
Microsoft Activision: What does deal mean for gamers?
Microsoft Activision: What does deal mean for gamers? Published 14 October
Image source, Getty Images
Microsoft has sealed its long-awaited deal for Activision Blizzard, and it's paid $69bn (£56bn) for the privilege.
That's a lot of money, but what does the deal actually mean for people the next time they pick up a video game?
Will Call of Duty still be on PlayStation?
This is the big question fans keep asking.
Call of Duty is one of the biggest-selling video game franchises of all time, ranking behind just Mario, Tetris and Pokemon.
The good news for Sony fans is it will be 2038 before it's even possible that the game could be an Xbox exclusive.
That's because Ubisoft has signed a deal giving it "cloud gaming" rights for every Activision Blizzard game, past and future, for 15 years.
|
15710
|
Microsoft Activision: What does deal mean for gamers?
Microsoft Activision: What does deal mean for gamers? Published 14 October
Image source, Getty Images
Microsoft has sealed its long-awaited deal for Activision Blizzard, and it's paid $69bn (£56bn) for the privilege.
That's a lot of money, but what does the deal actually mean for people the next time they pick up a video game?
Will Call of Duty still be on PlayStation?
This is the big question fans keep asking.
Call of Duty is one of the biggest-selling video game franchises of all time, ranking behind just Mario, Tetris and Pokemon.
The good news for Sony fans is it will be 2038 before it's even possible that the game could be an Xbox exclusive.
That's because Ubisoft has signed a deal giving it "cloud gaming" rights for every Activision Blizzard game, past and future, for 15 years.
Image source, Getty Images Image caption, Ubisoft is perhaps best known as the developer and publisher of stealthy action-adventure franchise Assassin's Creed
Microsoft had to agree to this to get the deal past UK regulators, who were worried about the company dominating the cloud industry.
|
15711
|
Microsoft Activision: What does deal mean for gamers?
That's a lot of money, but what does the deal actually mean for people the next time they pick up a video game?
Will Call of Duty still be on PlayStation?
This is the big question fans keep asking.
Call of Duty is one of the biggest-selling video game franchises of all time, ranking behind just Mario, Tetris and Pokemon.
The good news for Sony fans is it will be 2038 before it's even possible that the game could be an Xbox exclusive.
That's because Ubisoft has signed a deal giving it "cloud gaming" rights for every Activision Blizzard game, past and future, for 15 years.
Image source, Getty Images Image caption, Ubisoft is perhaps best known as the developer and publisher of stealthy action-adventure franchise Assassin's Creed
Microsoft had to agree to this to get the deal past UK regulators, who were worried about the company dominating the cloud industry.
If you don't know - cloud gaming is when people stream games over the internet - the much-touted "Netflix for games".
|
15712
|
Microsoft Activision: What does deal mean for gamers?
Will Call of Duty still be on PlayStation?
This is the big question fans keep asking.
Call of Duty is one of the biggest-selling video game franchises of all time, ranking behind just Mario, Tetris and Pokemon.
The good news for Sony fans is it will be 2038 before it's even possible that the game could be an Xbox exclusive.
That's because Ubisoft has signed a deal giving it "cloud gaming" rights for every Activision Blizzard game, past and future, for 15 years.
Image source, Getty Images Image caption, Ubisoft is perhaps best known as the developer and publisher of stealthy action-adventure franchise Assassin's Creed
Microsoft had to agree to this to get the deal past UK regulators, who were worried about the company dominating the cloud industry.
If you don't know - cloud gaming is when people stream games over the internet - the much-touted "Netflix for games".
The big subscription services in gaming right now include Ubisoft+, as well as Sony's PlayStation Plus and Xbox Game Pass.
So, will Call of Duty be on Game Pass?
|
15713
|
Microsoft Activision: What does deal mean for gamers?
Call of Duty is one of the biggest-selling video game franchises of all time, ranking behind just Mario, Tetris and Pokemon.
The good news for Sony fans is it will be 2038 before it's even possible that the game could be an Xbox exclusive.
That's because Ubisoft has signed a deal giving it "cloud gaming" rights for every Activision Blizzard game, past and future, for 15 years.
Image source, Getty Images Image caption, Ubisoft is perhaps best known as the developer and publisher of stealthy action-adventure franchise Assassin's Creed
Microsoft had to agree to this to get the deal past UK regulators, who were worried about the company dominating the cloud industry.
If you don't know - cloud gaming is when people stream games over the internet - the much-touted "Netflix for games".
The big subscription services in gaming right now include Ubisoft+, as well as Sony's PlayStation Plus and Xbox Game Pass.
So, will Call of Duty be on Game Pass?
In a post on X on Monday, Activision Blizzard said it expects to start adding its titles to Game Pass starting next year - meaning it's quite possible the new Call of Duty, amongst other games, will be playable on Xbox from day one.
|
15714
|
Microsoft Activision: What does deal mean for gamers?
That's because Ubisoft has signed a deal giving it "cloud gaming" rights for every Activision Blizzard game, past and future, for 15 years.
Image source, Getty Images Image caption, Ubisoft is perhaps best known as the developer and publisher of stealthy action-adventure franchise Assassin's Creed
Microsoft had to agree to this to get the deal past UK regulators, who were worried about the company dominating the cloud industry.
If you don't know - cloud gaming is when people stream games over the internet - the much-touted "Netflix for games".
The big subscription services in gaming right now include Ubisoft+, as well as Sony's PlayStation Plus and Xbox Game Pass.
So, will Call of Duty be on Game Pass?
In a post on X on Monday, Activision Blizzard said it expects to start adding its titles to Game Pass starting next year - meaning it's quite possible the new Call of Duty, amongst other games, will be playable on Xbox from day one.
Prior to this deal, Sony was usually the company benefiting from exclusives with Call of Duty - often meaning early access to the game, testing, and bonus features - but now that may well be a thing of the past.
|
15715
|
Microsoft Activision: What does deal mean for gamers?
If you don't know - cloud gaming is when people stream games over the internet - the much-touted "Netflix for games".
The big subscription services in gaming right now include Ubisoft+, as well as Sony's PlayStation Plus and Xbox Game Pass.
So, will Call of Duty be on Game Pass?
In a post on X on Monday, Activision Blizzard said it expects to start adding its titles to Game Pass starting next year - meaning it's quite possible the new Call of Duty, amongst other games, will be playable on Xbox from day one.
Prior to this deal, Sony was usually the company benefiting from exclusives with Call of Duty - often meaning early access to the game, testing, and bonus features - but now that may well be a thing of the past.
And critically, Microsoft has a habit of making its big blockbuster games available to play on Game Pass, for a monthly fee, on the first day they release.
|
15716
|
Microsoft Activision: What does deal mean for gamers?
If you don't know - cloud gaming is when people stream games over the internet - the much-touted "Netflix for games".
The big subscription services in gaming right now include Ubisoft+, as well as Sony's PlayStation Plus and Xbox Game Pass.
So, will Call of Duty be on Game Pass?
In a post on X on Monday, Activision Blizzard said it expects to start adding its titles to Game Pass starting next year - meaning it's quite possible the new Call of Duty, amongst other games, will be playable on Xbox from day one.
Prior to this deal, Sony was usually the company benefiting from exclusives with Call of Duty - often meaning early access to the game, testing, and bonus features - but now that may well be a thing of the past.
And critically, Microsoft has a habit of making its big blockbuster games available to play on Game Pass, for a monthly fee, on the first day they release.
Image source, EPA-EFE Image caption, Bethesda, which is owned by Microsoft, launched its new game Starfield in 2023 - but only on Xbox and PC
It's up to gamers to decide for themselves whether it's a better deal to buy the game or pay to access it.
|
15717
|
Microsoft Activision: What does deal mean for gamers?
So, will Call of Duty be on Game Pass?
In a post on X on Monday, Activision Blizzard said it expects to start adding its titles to Game Pass starting next year - meaning it's quite possible the new Call of Duty, amongst other games, will be playable on Xbox from day one.
Prior to this deal, Sony was usually the company benefiting from exclusives with Call of Duty - often meaning early access to the game, testing, and bonus features - but now that may well be a thing of the past.
And critically, Microsoft has a habit of making its big blockbuster games available to play on Game Pass, for a monthly fee, on the first day they release.
Image source, EPA-EFE Image caption, Bethesda, which is owned by Microsoft, launched its new game Starfield in 2023 - but only on Xbox and PC
It's up to gamers to decide for themselves whether it's a better deal to buy the game or pay to access it.
But it is worth noting this concerned the UK regulator so much it made sure Activision Blizzard games couldn't be streamed exclusively on Xbox for 15 years.
|
15718
|
Microsoft Activision: What does deal mean for gamers?
Prior to this deal, Sony was usually the company benefiting from exclusives with Call of Duty - often meaning early access to the game, testing, and bonus features - but now that may well be a thing of the past.
And critically, Microsoft has a habit of making its big blockbuster games available to play on Game Pass, for a monthly fee, on the first day they release.
Image source, EPA-EFE Image caption, Bethesda, which is owned by Microsoft, launched its new game Starfield in 2023 - but only on Xbox and PC
It's up to gamers to decide for themselves whether it's a better deal to buy the game or pay to access it.
But it is worth noting this concerned the UK regulator so much it made sure Activision Blizzard games couldn't be streamed exclusively on Xbox for 15 years.
That might be because Microsoft has form here - when the hotly anticipated Starfield came out in September 2023 to critical acclaim, it was available exclusively on PC and Xbox, and playable on Game Pass from day one.
|
15719
|
Microsoft Activision: What does deal mean for gamers?
And critically, Microsoft has a habit of making its big blockbuster games available to play on Game Pass, for a monthly fee, on the first day they release.
Image source, EPA-EFE Image caption, Bethesda, which is owned by Microsoft, launched its new game Starfield in 2023 - but only on Xbox and PC
It's up to gamers to decide for themselves whether it's a better deal to buy the game or pay to access it.
But it is worth noting this concerned the UK regulator so much it made sure Activision Blizzard games couldn't be streamed exclusively on Xbox for 15 years.
That might be because Microsoft has form here - when the hotly anticipated Starfield came out in September 2023 to critical acclaim, it was available exclusively on PC and Xbox, and playable on Game Pass from day one.
If games are still on PlayStation, what's in it for Microsoft?
Even with games still able to appear on PlayStation, it's Microsoft who will be winning out.
|
15720
|
Microsoft Activision: What does deal mean for gamers?
Image source, EPA-EFE Image caption, Bethesda, which is owned by Microsoft, launched its new game Starfield in 2023 - but only on Xbox and PC
It's up to gamers to decide for themselves whether it's a better deal to buy the game or pay to access it.
But it is worth noting this concerned the UK regulator so much it made sure Activision Blizzard games couldn't be streamed exclusively on Xbox for 15 years.
That might be because Microsoft has form here - when the hotly anticipated Starfield came out in September 2023 to critical acclaim, it was available exclusively on PC and Xbox, and playable on Game Pass from day one.
If games are still on PlayStation, what's in it for Microsoft?
Even with games still able to appear on PlayStation, it's Microsoft who will be winning out.
Ubisoft may have the streaming rights to Activision Blizzard games for 15 years, but increasingly nowadays game companies make much more money from in-game purchases, also known as microtransactions.
|
15721
|
Microsoft Activision: What does deal mean for gamers?
But it is worth noting this concerned the UK regulator so much it made sure Activision Blizzard games couldn't be streamed exclusively on Xbox for 15 years.
That might be because Microsoft has form here - when the hotly anticipated Starfield came out in September 2023 to critical acclaim, it was available exclusively on PC and Xbox, and playable on Game Pass from day one.
If games are still on PlayStation, what's in it for Microsoft?
Even with games still able to appear on PlayStation, it's Microsoft who will be winning out.
Ubisoft may have the streaming rights to Activision Blizzard games for 15 years, but increasingly nowadays game companies make much more money from in-game purchases, also known as microtransactions.
According to Statista, the firm raked in $5.89bn in 2022 from microtransactions, downloadable content and royalties - more than three times the $1.6bn it made from selling the games themselves.
Sony gets around a 30% cut of purchases made in-game, though the exact figures will change between games.
|
15722
|
Microsoft Activision: What does deal mean for gamers?
That might be because Microsoft has form here - when the hotly anticipated Starfield came out in September 2023 to critical acclaim, it was available exclusively on PC and Xbox, and playable on Game Pass from day one.
If games are still on PlayStation, what's in it for Microsoft?
Even with games still able to appear on PlayStation, it's Microsoft who will be winning out.
Ubisoft may have the streaming rights to Activision Blizzard games for 15 years, but increasingly nowadays game companies make much more money from in-game purchases, also known as microtransactions.
According to Statista, the firm raked in $5.89bn in 2022 from microtransactions, downloadable content and royalties - more than three times the $1.6bn it made from selling the games themselves.
Sony gets around a 30% cut of purchases made in-game, though the exact figures will change between games. Either way - it means an in-game purchase in Call of Duty on PlayStation will now be directly funding a rival.
What do fans think?
|
15723
|
Microsoft Activision: What does deal mean for gamers?
If games are still on PlayStation, what's in it for Microsoft?
Even with games still able to appear on PlayStation, it's Microsoft who will be winning out.
Ubisoft may have the streaming rights to Activision Blizzard games for 15 years, but increasingly nowadays game companies make much more money from in-game purchases, also known as microtransactions.
According to Statista, the firm raked in $5.89bn in 2022 from microtransactions, downloadable content and royalties - more than three times the $1.6bn it made from selling the games themselves.
Sony gets around a 30% cut of purchases made in-game, though the exact figures will change between games. Either way - it means an in-game purchase in Call of Duty on PlayStation will now be directly funding a rival.
What do fans think?
BBC Newsbeat spoke to fans at gaming convention EGX this week to get their take on the deal, with Oliver, 16, saying he thought it might be good news for Call of Duty.
|
15724
|
Microsoft Activision: What does deal mean for gamers?
Even with games still able to appear on PlayStation, it's Microsoft who will be winning out.
Ubisoft may have the streaming rights to Activision Blizzard games for 15 years, but increasingly nowadays game companies make much more money from in-game purchases, also known as microtransactions.
According to Statista, the firm raked in $5.89bn in 2022 from microtransactions, downloadable content and royalties - more than three times the $1.6bn it made from selling the games themselves.
Sony gets around a 30% cut of purchases made in-game, though the exact figures will change between games. Either way - it means an in-game purchase in Call of Duty on PlayStation will now be directly funding a rival.
What do fans think?
BBC Newsbeat spoke to fans at gaming convention EGX this week to get their take on the deal, with Oliver, 16, saying he thought it might be good news for Call of Duty.
"It will just expand the market for gaming, because it's a company with more money to fund the games," he said.
|
15725
|
Microsoft Activision: What does deal mean for gamers?
Ubisoft may have the streaming rights to Activision Blizzard games for 15 years, but increasingly nowadays game companies make much more money from in-game purchases, also known as microtransactions.
According to Statista, the firm raked in $5.89bn in 2022 from microtransactions, downloadable content and royalties - more than three times the $1.6bn it made from selling the games themselves.
Sony gets around a 30% cut of purchases made in-game, though the exact figures will change between games. Either way - it means an in-game purchase in Call of Duty on PlayStation will now be directly funding a rival.
What do fans think?
BBC Newsbeat spoke to fans at gaming convention EGX this week to get their take on the deal, with Oliver, 16, saying he thought it might be good news for Call of Duty.
"It will just expand the market for gaming, because it's a company with more money to fund the games," he said.
Meanwhile Sophie, who was named Ubisoft's content creator of the year, told the BBC she "just wants the games to win".
|
15726
|
Microsoft Activision: What does deal mean for gamers?
According to Statista, the firm raked in $5.89bn in 2022 from microtransactions, downloadable content and royalties - more than three times the $1.6bn it made from selling the games themselves.
Sony gets around a 30% cut of purchases made in-game, though the exact figures will change between games. Either way - it means an in-game purchase in Call of Duty on PlayStation will now be directly funding a rival.
What do fans think?
BBC Newsbeat spoke to fans at gaming convention EGX this week to get their take on the deal, with Oliver, 16, saying he thought it might be good news for Call of Duty.
"It will just expand the market for gaming, because it's a company with more money to fund the games," he said.
Meanwhile Sophie, who was named Ubisoft's content creator of the year, told the BBC she "just wants the games to win".
"We want everyone to be able to play video games that they want to play, we want them to be accessible for everyone," she said.
|
15727
|
Microsoft Activision: What does deal mean for gamers?
Sony gets around a 30% cut of purchases made in-game, though the exact figures will change between games. Either way - it means an in-game purchase in Call of Duty on PlayStation will now be directly funding a rival.
What do fans think?
BBC Newsbeat spoke to fans at gaming convention EGX this week to get their take on the deal, with Oliver, 16, saying he thought it might be good news for Call of Duty.
"It will just expand the market for gaming, because it's a company with more money to fund the games," he said.
Meanwhile Sophie, who was named Ubisoft's content creator of the year, told the BBC she "just wants the games to win".
"We want everyone to be able to play video games that they want to play, we want them to be accessible for everyone," she said.
"Obviously, we're going to have our opinions, but if the end result is good games, that's fine with us."
This Instagram post cannot be displayed in your browser.
|
15728
|
Microsoft Activision: What does deal mean for gamers?
Either way - it means an in-game purchase in Call of Duty on PlayStation will now be directly funding a rival.
What do fans think?
BBC Newsbeat spoke to fans at gaming convention EGX this week to get their take on the deal, with Oliver, 16, saying he thought it might be good news for Call of Duty.
"It will just expand the market for gaming, because it's a company with more money to fund the games," he said.
Meanwhile Sophie, who was named Ubisoft's content creator of the year, told the BBC she "just wants the games to win".
"We want everyone to be able to play video games that they want to play, we want them to be accessible for everyone," she said.
"Obviously, we're going to have our opinions, but if the end result is good games, that's fine with us."
This Instagram post cannot be displayed in your browser. Please enable Javascript or try a different browser. View original content on Instagram The BBC is not responsible for the content of external sites.
|
15729
|
Microsoft Activision: What does deal mean for gamers?
What do fans think?
BBC Newsbeat spoke to fans at gaming convention EGX this week to get their take on the deal, with Oliver, 16, saying he thought it might be good news for Call of Duty.
"It will just expand the market for gaming, because it's a company with more money to fund the games," he said.
Meanwhile Sophie, who was named Ubisoft's content creator of the year, told the BBC she "just wants the games to win".
"We want everyone to be able to play video games that they want to play, we want them to be accessible for everyone," she said.
"Obviously, we're going to have our opinions, but if the end result is good games, that's fine with us."
This Instagram post cannot be displayed in your browser. Please enable Javascript or try a different browser. View original content on Instagram The BBC is not responsible for the content of external sites. Skip instagram post by cadaea Allow Instagram content? This article contains content provided by Instagram.
|
15730
|
Microsoft Activision: What does deal mean for gamers?
"It will just expand the market for gaming, because it's a company with more money to fund the games," he said.
Meanwhile Sophie, who was named Ubisoft's content creator of the year, told the BBC she "just wants the games to win".
"We want everyone to be able to play video games that they want to play, we want them to be accessible for everyone," she said.
"Obviously, we're going to have our opinions, but if the end result is good games, that's fine with us."
This Instagram post cannot be displayed in your browser. Please enable Javascript or try a different browser. View original content on Instagram The BBC is not responsible for the content of external sites. Skip instagram post by cadaea Allow Instagram content? This article contains content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Meta’s Instagram cookie policy, external and privacy policy, external before accepting.
|
15731
|
Microsoft Activision: What does deal mean for gamers?
Meanwhile Sophie, who was named Ubisoft's content creator of the year, told the BBC she "just wants the games to win".
"We want everyone to be able to play video games that they want to play, we want them to be accessible for everyone," she said.
"Obviously, we're going to have our opinions, but if the end result is good games, that's fine with us."
This Instagram post cannot be displayed in your browser. Please enable Javascript or try a different browser. View original content on Instagram The BBC is not responsible for the content of external sites. Skip instagram post by cadaea Allow Instagram content? This article contains content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Meta’s Instagram cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’. Accept and continue The BBC is not responsible for the content of external sites.
|
15732
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Microsoft Activision: What does deal mean for gamers?
"We want everyone to be able to play video games that they want to play, we want them to be accessible for everyone," she said.
"Obviously, we're going to have our opinions, but if the end result is good games, that's fine with us."
This Instagram post cannot be displayed in your browser. Please enable Javascript or try a different browser. View original content on Instagram The BBC is not responsible for the content of external sites. Skip instagram post by cadaea Allow Instagram content? This article contains content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Meta’s Instagram cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’. Accept and continue The BBC is not responsible for the content of external sites. End of instagram post by cadaea
But not everyone is positive.
|
15733
|
Microsoft Activision: What does deal mean for gamers?
"We want everyone to be able to play video games that they want to play, we want them to be accessible for everyone," she said.
"Obviously, we're going to have our opinions, but if the end result is good games, that's fine with us."
This Instagram post cannot be displayed in your browser. Please enable Javascript or try a different browser. View original content on Instagram The BBC is not responsible for the content of external sites. Skip instagram post by cadaea Allow Instagram content? This article contains content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Meta’s Instagram cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’. Accept and continue The BBC is not responsible for the content of external sites. End of instagram post by cadaea
But not everyone is positive.
Once upon a time, Activision games Crash Bandicoot and Spyro the Dragon were PlayStation exclusives, and some fans don't want to see a permanent switch to Microsoft somewhere down the line.
|
15734
|
Microsoft Activision: What does deal mean for gamers?
This Instagram post cannot be displayed in your browser. Please enable Javascript or try a different browser. View original content on Instagram The BBC is not responsible for the content of external sites. Skip instagram post by cadaea Allow Instagram content? This article contains content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Meta’s Instagram cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’. Accept and continue The BBC is not responsible for the content of external sites. End of instagram post by cadaea
But not everyone is positive.
Once upon a time, Activision games Crash Bandicoot and Spyro the Dragon were PlayStation exclusives, and some fans don't want to see a permanent switch to Microsoft somewhere down the line.
It's even led some fans to make petitions calling for Microsoft to keep the games playable on all consoles in perpetuity.
What does it mean for the UK?
|
15735
|
Microsoft Activision: What does deal mean for gamers?
View original content on Instagram The BBC is not responsible for the content of external sites. Skip instagram post by cadaea Allow Instagram content? This article contains content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Meta’s Instagram cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’. Accept and continue The BBC is not responsible for the content of external sites. End of instagram post by cadaea
But not everyone is positive.
Once upon a time, Activision games Crash Bandicoot and Spyro the Dragon were PlayStation exclusives, and some fans don't want to see a permanent switch to Microsoft somewhere down the line.
It's even led some fans to make petitions calling for Microsoft to keep the games playable on all consoles in perpetuity.
What does it mean for the UK?
Activision Blizzard alone has studios in London, Guildford and Warrington.
|
15736
|
Microsoft Activision: What does deal mean for gamers?
Skip instagram post by cadaea Allow Instagram content? This article contains content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Meta’s Instagram cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’. Accept and continue The BBC is not responsible for the content of external sites. End of instagram post by cadaea
But not everyone is positive.
Once upon a time, Activision games Crash Bandicoot and Spyro the Dragon were PlayStation exclusives, and some fans don't want to see a permanent switch to Microsoft somewhere down the line.
It's even led some fans to make petitions calling for Microsoft to keep the games playable on all consoles in perpetuity.
What does it mean for the UK?
Activision Blizzard alone has studios in London, Guildford and Warrington. The business also owns King, the Stockholm and London-based makers of Candy Crush Saga.
|
15737
|
Microsoft Activision: What does deal mean for gamers?
This article contains content provided by Instagram. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Meta’s Instagram cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’. Accept and continue The BBC is not responsible for the content of external sites. End of instagram post by cadaea
But not everyone is positive.
Once upon a time, Activision games Crash Bandicoot and Spyro the Dragon were PlayStation exclusives, and some fans don't want to see a permanent switch to Microsoft somewhere down the line.
It's even led some fans to make petitions calling for Microsoft to keep the games playable on all consoles in perpetuity.
What does it mean for the UK?
Activision Blizzard alone has studios in London, Guildford and Warrington. The business also owns King, the Stockholm and London-based makers of Candy Crush Saga.
Image source, Getty Images Image caption, Activision Blizzard itself owns many developers, including the maker of Candy Crush Saga
Altogether this deal means more UK studios coming under the control of Microsoft.
|
15738
|
Microsoft Activision: What does deal mean for gamers?
To view this content choose ‘accept and continue’. Accept and continue The BBC is not responsible for the content of external sites. End of instagram post by cadaea
But not everyone is positive.
Once upon a time, Activision games Crash Bandicoot and Spyro the Dragon were PlayStation exclusives, and some fans don't want to see a permanent switch to Microsoft somewhere down the line.
It's even led some fans to make petitions calling for Microsoft to keep the games playable on all consoles in perpetuity.
What does it mean for the UK?
Activision Blizzard alone has studios in London, Guildford and Warrington. The business also owns King, the Stockholm and London-based makers of Candy Crush Saga.
Image source, Getty Images Image caption, Activision Blizzard itself owns many developers, including the maker of Candy Crush Saga
Altogether this deal means more UK studios coming under the control of Microsoft.
Ukie, the body that represents games companies, told the BBC that this kind of international investment was "a crucial part" of the UK industry.
|
15739
|
Microsoft Activision: What does deal mean for gamers?
End of instagram post by cadaea
But not everyone is positive.
Once upon a time, Activision games Crash Bandicoot and Spyro the Dragon were PlayStation exclusives, and some fans don't want to see a permanent switch to Microsoft somewhere down the line.
It's even led some fans to make petitions calling for Microsoft to keep the games playable on all consoles in perpetuity.
What does it mean for the UK?
Activision Blizzard alone has studios in London, Guildford and Warrington. The business also owns King, the Stockholm and London-based makers of Candy Crush Saga.
Image source, Getty Images Image caption, Activision Blizzard itself owns many developers, including the maker of Candy Crush Saga
Altogether this deal means more UK studios coming under the control of Microsoft.
Ukie, the body that represents games companies, told the BBC that this kind of international investment was "a crucial part" of the UK industry. According to a spokesperson, 89% of the total investment in the UK games industry between January 2017 and June 2022 came from non-UK companies.
|
15740
|
Microsoft Activision: What does deal mean for gamers?
It's even led some fans to make petitions calling for Microsoft to keep the games playable on all consoles in perpetuity.
What does it mean for the UK?
Activision Blizzard alone has studios in London, Guildford and Warrington. The business also owns King, the Stockholm and London-based makers of Candy Crush Saga.
Image source, Getty Images Image caption, Activision Blizzard itself owns many developers, including the maker of Candy Crush Saga
Altogether this deal means more UK studios coming under the control of Microsoft.
Ukie, the body that represents games companies, told the BBC that this kind of international investment was "a crucial part" of the UK industry. According to a spokesperson, 89% of the total investment in the UK games industry between January 2017 and June 2022 came from non-UK companies.
So from the side of simply paying for games to be made, this kind of money makes a big difference.
What games does Microsoft now own?
|
15741
|
Microsoft Activision: What does deal mean for gamers?
It's even led some fans to make petitions calling for Microsoft to keep the games playable on all consoles in perpetuity.
What does it mean for the UK?
Activision Blizzard alone has studios in London, Guildford and Warrington. The business also owns King, the Stockholm and London-based makers of Candy Crush Saga.
Image source, Getty Images Image caption, Activision Blizzard itself owns many developers, including the maker of Candy Crush Saga
Altogether this deal means more UK studios coming under the control of Microsoft.
Ukie, the body that represents games companies, told the BBC that this kind of international investment was "a crucial part" of the UK industry. According to a spokesperson, 89% of the total investment in the UK games industry between January 2017 and June 2022 came from non-UK companies.
So from the side of simply paying for games to be made, this kind of money makes a big difference.
What games does Microsoft now own?
Image source, Getty Images Image caption, World of Warcraft now comes under the Microsoft umbrella
It expands an already massive gaming empire owned by the US company.
|
15742
|
Microsoft Activision: What does deal mean for gamers?
Activision Blizzard alone has studios in London, Guildford and Warrington. The business also owns King, the Stockholm and London-based makers of Candy Crush Saga.
Image source, Getty Images Image caption, Activision Blizzard itself owns many developers, including the maker of Candy Crush Saga
Altogether this deal means more UK studios coming under the control of Microsoft.
Ukie, the body that represents games companies, told the BBC that this kind of international investment was "a crucial part" of the UK industry. According to a spokesperson, 89% of the total investment in the UK games industry between January 2017 and June 2022 came from non-UK companies.
So from the side of simply paying for games to be made, this kind of money makes a big difference.
What games does Microsoft now own?
Image source, Getty Images Image caption, World of Warcraft now comes under the Microsoft umbrella
It expands an already massive gaming empire owned by the US company.
Gamers who grew up with the N64 will recall Microsoft's shock purchase of GoldenEye 007 developer Rare for $375m in 2002, who up until then had specialised in Nintendo games.
|
15743
|
Microsoft Activision: What does deal mean for gamers?
Ukie, the body that represents games companies, told the BBC that this kind of international investment was "a crucial part" of the UK industry. According to a spokesperson, 89% of the total investment in the UK games industry between January 2017 and June 2022 came from non-UK companies.
So from the side of simply paying for games to be made, this kind of money makes a big difference.
What games does Microsoft now own?
Image source, Getty Images Image caption, World of Warcraft now comes under the Microsoft umbrella
It expands an already massive gaming empire owned by the US company.
Gamers who grew up with the N64 will recall Microsoft's shock purchase of GoldenEye 007 developer Rare for $375m in 2002, who up until then had specialised in Nintendo games.
But modern players might be more familiar with Microsoft buying up Minecraft developer Mojang for $2.5bn in 2014 - meaning it owns the best-selling game of all time.
|
15744
|
Microsoft Activision: What does deal mean for gamers?
According to a spokesperson, 89% of the total investment in the UK games industry between January 2017 and June 2022 came from non-UK companies.
So from the side of simply paying for games to be made, this kind of money makes a big difference.
What games does Microsoft now own?
Image source, Getty Images Image caption, World of Warcraft now comes under the Microsoft umbrella
It expands an already massive gaming empire owned by the US company.
Gamers who grew up with the N64 will recall Microsoft's shock purchase of GoldenEye 007 developer Rare for $375m in 2002, who up until then had specialised in Nintendo games.
But modern players might be more familiar with Microsoft buying up Minecraft developer Mojang for $2.5bn in 2014 - meaning it owns the best-selling game of all time.
The business has used a slew of savvy acquisitions like the above to try to muster the same dominance it's had in computing in gaming.
It now owns more than 20 different gaming studios altogether.
|
15745
|
Microsoft Activision: What does deal mean for gamers?
So from the side of simply paying for games to be made, this kind of money makes a big difference.
What games does Microsoft now own?
Image source, Getty Images Image caption, World of Warcraft now comes under the Microsoft umbrella
It expands an already massive gaming empire owned by the US company.
Gamers who grew up with the N64 will recall Microsoft's shock purchase of GoldenEye 007 developer Rare for $375m in 2002, who up until then had specialised in Nintendo games.
But modern players might be more familiar with Microsoft buying up Minecraft developer Mojang for $2.5bn in 2014 - meaning it owns the best-selling game of all time.
The business has used a slew of savvy acquisitions like the above to try to muster the same dominance it's had in computing in gaming.
It now owns more than 20 different gaming studios altogether.
We've mentioned several big games already, but there's even more which are about to fall under Microsoft's umbrella.
|
15746
|
Microsoft Activision: What does deal mean for gamers?
So from the side of simply paying for games to be made, this kind of money makes a big difference.
What games does Microsoft now own?
Image source, Getty Images Image caption, World of Warcraft now comes under the Microsoft umbrella
It expands an already massive gaming empire owned by the US company.
Gamers who grew up with the N64 will recall Microsoft's shock purchase of GoldenEye 007 developer Rare for $375m in 2002, who up until then had specialised in Nintendo games.
But modern players might be more familiar with Microsoft buying up Minecraft developer Mojang for $2.5bn in 2014 - meaning it owns the best-selling game of all time.
The business has used a slew of savvy acquisitions like the above to try to muster the same dominance it's had in computing in gaming.
It now owns more than 20 different gaming studios altogether.
We've mentioned several big games already, but there's even more which are about to fall under Microsoft's umbrella.
It's a long list, but some of the big names include:
Tony Hawk's Pro Skater
World of Warcraft
Diablo
Overwatch
Candy Crush Saga
|
15747
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Nike reported revenue Thursday that fell short of Wall Street's sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading.
Here's how the sneaker giant performed during its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:
Earnings per share: 94 cents vs. 75 cents expected
Revenue: $12.94 billion vs. $12.98 billion expected
The company's reported net income for the three-month period that ended August 31 was $1.45 billion, or 94 cents per share, compared with $1.47 billion, or 93 cents per share, a year earlier.
Sales rose to $12.94 billion, up about 2% from $12.69 billion a year earlier.
|
15748
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Nike reported revenue Thursday that fell short of Wall Street's sales expectations for the first time in two years, but it beat on earnings and gross margin estimates, sending its stock soaring in after-hours trading.
Here's how the sneaker giant performed during its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:
Earnings per share: 94 cents vs. 75 cents expected
Revenue: $12.94 billion vs. $12.98 billion expected
The company's reported net income for the three-month period that ended August 31 was $1.45 billion, or 94 cents per share, compared with $1.47 billion, or 93 cents per share, a year earlier.
Sales rose to $12.94 billion, up about 2% from $12.69 billion a year earlier. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG.
|
15749
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Here's how the sneaker giant performed during its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:
Earnings per share: 94 cents vs. 75 cents expected
Revenue: $12.94 billion vs. $12.98 billion expected
The company's reported net income for the three-month period that ended August 31 was $1.45 billion, or 94 cents per share, compared with $1.47 billion, or 93 cents per share, a year earlier.
Sales rose to $12.94 billion, up about 2% from $12.69 billion a year earlier. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG.
Nike shares rose about 8% in extended trading Thursday.
|
15750
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Here's how the sneaker giant performed during its fiscal first quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refinitiv:
Earnings per share: 94 cents vs. 75 cents expected
Revenue: $12.94 billion vs. $12.98 billion expected
The company's reported net income for the three-month period that ended August 31 was $1.45 billion, or 94 cents per share, compared with $1.47 billion, or 93 cents per share, a year earlier.
Sales rose to $12.94 billion, up about 2% from $12.69 billion a year earlier. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG.
Nike shares rose about 8% in extended trading Thursday.
The retailer maintained its full-year guidance of revenue growth in the mid-single digits and gross margin expansion of 1.4 to 1.6 percentage points.
|
15751
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
75 cents expected
Revenue: $12.94 billion vs. $12.98 billion expected
The company's reported net income for the three-month period that ended August 31 was $1.45 billion, or 94 cents per share, compared with $1.47 billion, or 93 cents per share, a year earlier.
Sales rose to $12.94 billion, up about 2% from $12.69 billion a year earlier. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG.
Nike shares rose about 8% in extended trading Thursday.
The retailer maintained its full-year guidance of revenue growth in the mid-single digits and gross margin expansion of 1.4 to 1.6 percentage points.
"We're closely monitoring the operating environment, including foreign currency exchange rates, consumer demand over the holiday season, and our second half wholesale order book," said finance chief Matthew Friend on a call with analysts.
|
15752
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
$12.98 billion expected
The company's reported net income for the three-month period that ended August 31 was $1.45 billion, or 94 cents per share, compared with $1.47 billion, or 93 cents per share, a year earlier.
Sales rose to $12.94 billion, up about 2% from $12.69 billion a year earlier. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG.
Nike shares rose about 8% in extended trading Thursday.
The retailer maintained its full-year guidance of revenue growth in the mid-single digits and gross margin expansion of 1.4 to 1.6 percentage points.
"We're closely monitoring the operating environment, including foreign currency exchange rates, consumer demand over the holiday season, and our second half wholesale order book," said finance chief Matthew Friend on a call with analysts.
"We are cautiously planning for modest markdown improvements for the balance of the year, given the promotional environment," he added.
|
15753
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Sales rose to $12.94 billion, up about 2% from $12.69 billion a year earlier. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG.
Nike shares rose about 8% in extended trading Thursday.
The retailer maintained its full-year guidance of revenue growth in the mid-single digits and gross margin expansion of 1.4 to 1.6 percentage points.
"We're closely monitoring the operating environment, including foreign currency exchange rates, consumer demand over the holiday season, and our second half wholesale order book," said finance chief Matthew Friend on a call with analysts.
"We are cautiously planning for modest markdown improvements for the balance of the year, given the promotional environment," he added.
For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year.
|
15754
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Sales rose to $12.94 billion, up about 2% from $12.69 billion a year earlier. Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG.
Nike shares rose about 8% in extended trading Thursday.
The retailer maintained its full-year guidance of revenue growth in the mid-single digits and gross margin expansion of 1.4 to 1.6 percentage points.
"We're closely monitoring the operating environment, including foreign currency exchange rates, consumer demand over the holiday season, and our second half wholesale order book," said finance chief Matthew Friend on a call with analysts.
"We are cautiously planning for modest markdown improvements for the balance of the year, given the promotional environment," he added.
For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year.
Investors have been laser focused on Nike's recovery in China, its relationship with its wholesale partners and how the resumption of student loan payments will impact sales.
|
15755
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Revenue for the quarter was just shy of the $12.98 billion analysts had expected, according to LSEG.
Nike shares rose about 8% in extended trading Thursday.
The retailer maintained its full-year guidance of revenue growth in the mid-single digits and gross margin expansion of 1.4 to 1.6 percentage points.
"We're closely monitoring the operating environment, including foreign currency exchange rates, consumer demand over the holiday season, and our second half wholesale order book," said finance chief Matthew Friend on a call with analysts.
"We are cautiously planning for modest markdown improvements for the balance of the year, given the promotional environment," he added.
For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year.
Investors have been laser focused on Nike's recovery in China, its relationship with its wholesale partners and how the resumption of student loan payments will impact sales.
They're also keen to see Nike's margins recover after bloated inventories, high promotions and supply chain woes contributed to lower profits over the last few quarters.
|
15756
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
The retailer maintained its full-year guidance of revenue growth in the mid-single digits and gross margin expansion of 1.4 to 1.6 percentage points.
"We're closely monitoring the operating environment, including foreign currency exchange rates, consumer demand over the holiday season, and our second half wholesale order book," said finance chief Matthew Friend on a call with analysts.
"We are cautiously planning for modest markdown improvements for the balance of the year, given the promotional environment," he added.
For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year.
Investors have been laser focused on Nike's recovery in China, its relationship with its wholesale partners and how the resumption of student loan payments will impact sales.
They're also keen to see Nike's margins recover after bloated inventories, high promotions and supply chain woes contributed to lower profits over the last few quarters.
During the quarter, Nike's gross margin fell about 0.1 percentage points to 44.2%, but it was higher than the 43.7% analysts had expected, according to StreetAccount.
|
15757
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"We are cautiously planning for modest markdown improvements for the balance of the year, given the promotional environment," he added.
For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year.
Investors have been laser focused on Nike's recovery in China, its relationship with its wholesale partners and how the resumption of student loan payments will impact sales.
They're also keen to see Nike's margins recover after bloated inventories, high promotions and supply chain woes contributed to lower profits over the last few quarters.
During the quarter, Nike's gross margin fell about 0.1 percentage points to 44.2%, but it was higher than the 43.7% analysts had expected, according to StreetAccount. The company attributed the gross margin drop to higher product costs and currency exchange rates, but those trends were offset by price increases, which contributed to the earnings beat.
|
15758
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"We are cautiously planning for modest markdown improvements for the balance of the year, given the promotional environment," he added.
For the second quarter, Nike expects revenue growth to be up slightly versus the prior year and gross margins to grow by about 1 percentage point versus the prior year.
Investors have been laser focused on Nike's recovery in China, its relationship with its wholesale partners and how the resumption of student loan payments will impact sales.
They're also keen to see Nike's margins recover after bloated inventories, high promotions and supply chain woes contributed to lower profits over the last few quarters.
During the quarter, Nike's gross margin fell about 0.1 percentage points to 44.2%, but it was higher than the 43.7% analysts had expected, according to StreetAccount. The company attributed the gross margin drop to higher product costs and currency exchange rates, but those trends were offset by price increases, which contributed to the earnings beat.
Sales in China grew by 5% compared to the year-ago period to $1.7 billion, which fell short of the $1.8 billion analysts had expected, according to StreetAccount.
|
15759
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Investors have been laser focused on Nike's recovery in China, its relationship with its wholesale partners and how the resumption of student loan payments will impact sales.
They're also keen to see Nike's margins recover after bloated inventories, high promotions and supply chain woes contributed to lower profits over the last few quarters.
During the quarter, Nike's gross margin fell about 0.1 percentage points to 44.2%, but it was higher than the 43.7% analysts had expected, according to StreetAccount. The company attributed the gross margin drop to higher product costs and currency exchange rates, but those trends were offset by price increases, which contributed to the earnings beat.
Sales in China grew by 5% compared to the year-ago period to $1.7 billion, which fell short of the $1.8 billion analysts had expected, according to StreetAccount.
During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period.
|
15760
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
They're also keen to see Nike's margins recover after bloated inventories, high promotions and supply chain woes contributed to lower profits over the last few quarters.
During the quarter, Nike's gross margin fell about 0.1 percentage points to 44.2%, but it was higher than the 43.7% analysts had expected, according to StreetAccount. The company attributed the gross margin drop to higher product costs and currency exchange rates, but those trends were offset by price increases, which contributed to the earnings beat.
Sales in China grew by 5% compared to the year-ago period to $1.7 billion, which fell short of the $1.8 billion analysts had expected, according to StreetAccount.
During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. But the numbers were against easy comparisons because the region was still under Covid-related lockdown orders during the prior year.
|
15761
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
They're also keen to see Nike's margins recover after bloated inventories, high promotions and supply chain woes contributed to lower profits over the last few quarters.
During the quarter, Nike's gross margin fell about 0.1 percentage points to 44.2%, but it was higher than the 43.7% analysts had expected, according to StreetAccount. The company attributed the gross margin drop to higher product costs and currency exchange rates, but those trends were offset by price increases, which contributed to the earnings beat.
Sales in China grew by 5% compared to the year-ago period to $1.7 billion, which fell short of the $1.8 billion analysts had expected, according to StreetAccount.
During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. But the numbers were against easy comparisons because the region was still under Covid-related lockdown orders during the prior year.
While Nike remains bullish on China, the region's economic recovery has so far been a mixed bag.
|
15762
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
During the quarter, Nike's gross margin fell about 0.1 percentage points to 44.2%, but it was higher than the 43.7% analysts had expected, according to StreetAccount. The company attributed the gross margin drop to higher product costs and currency exchange rates, but those trends were offset by price increases, which contributed to the earnings beat.
Sales in China grew by 5% compared to the year-ago period to $1.7 billion, which fell short of the $1.8 billion analysts had expected, according to StreetAccount.
During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. But the numbers were against easy comparisons because the region was still under Covid-related lockdown orders during the prior year.
While Nike remains bullish on China, the region's economic recovery has so far been a mixed bag. Following a sluggish July, retail sales picked up during the month of August to rise 4.6% compared to the prior year, beating expectations of a 3% growth forecast by Reuters.
|
15763
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
The company attributed the gross margin drop to higher product costs and currency exchange rates, but those trends were offset by price increases, which contributed to the earnings beat.
Sales in China grew by 5% compared to the year-ago period to $1.7 billion, which fell short of the $1.8 billion analysts had expected, according to StreetAccount.
During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. But the numbers were against easy comparisons because the region was still under Covid-related lockdown orders during the prior year.
While Nike remains bullish on China, the region's economic recovery has so far been a mixed bag. Following a sluggish July, retail sales picked up during the month of August to rise 4.6% compared to the prior year, beating expectations of a 3% growth forecast by Reuters.
"We feel good about the market there and our position," said CEO John Donahoe, adding he's traveled to China twice in the last four months.
|
15764
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Sales in China grew by 5% compared to the year-ago period to $1.7 billion, which fell short of the $1.8 billion analysts had expected, according to StreetAccount.
During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. But the numbers were against easy comparisons because the region was still under Covid-related lockdown orders during the prior year.
While Nike remains bullish on China, the region's economic recovery has so far been a mixed bag. Following a sluggish July, retail sales picked up during the month of August to rise 4.6% compared to the prior year, beating expectations of a 3% growth forecast by Reuters.
"We feel good about the market there and our position," said CEO John Donahoe, adding he's traveled to China twice in the last four months. "Frankly, a couple things stand out.
|
15765
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Sales in China grew by 5% compared to the year-ago period to $1.7 billion, which fell short of the $1.8 billion analysts had expected, according to StreetAccount.
During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. But the numbers were against easy comparisons because the region was still under Covid-related lockdown orders during the prior year.
While Nike remains bullish on China, the region's economic recovery has so far been a mixed bag. Following a sluggish July, retail sales picked up during the month of August to rise 4.6% compared to the prior year, beating expectations of a 3% growth forecast by Reuters.
"We feel good about the market there and our position," said CEO John Donahoe, adding he's traveled to China twice in the last four months. "Frankly, a couple things stand out. One, sport is back in China, you can just feel it, and that gives us great confidence about the future and the Chinese consumer in our segment, regardless of the macroeconomic outlook there."
|
15766
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
During the previous quarter ended May 31, Nike saw China sales jump 16% compared to the year-ago period. But the numbers were against easy comparisons because the region was still under Covid-related lockdown orders during the prior year.
While Nike remains bullish on China, the region's economic recovery has so far been a mixed bag. Following a sluggish July, retail sales picked up during the month of August to rise 4.6% compared to the prior year, beating expectations of a 3% growth forecast by Reuters.
"We feel good about the market there and our position," said CEO John Donahoe, adding he's traveled to China twice in the last four months. "Frankly, a couple things stand out. One, sport is back in China, you can just feel it, and that gives us great confidence about the future and the Chinese consumer in our segment, regardless of the macroeconomic outlook there."
Nike saw sales jumps in every region besides North America, its largest market by revenue.
|
15767
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
But the numbers were against easy comparisons because the region was still under Covid-related lockdown orders during the prior year.
While Nike remains bullish on China, the region's economic recovery has so far been a mixed bag. Following a sluggish July, retail sales picked up during the month of August to rise 4.6% compared to the prior year, beating expectations of a 3% growth forecast by Reuters.
"We feel good about the market there and our position," said CEO John Donahoe, adding he's traveled to China twice in the last four months. "Frankly, a couple things stand out. One, sport is back in China, you can just feel it, and that gives us great confidence about the future and the Chinese consumer in our segment, regardless of the macroeconomic outlook there."
Nike saw sales jumps in every region besides North America, its largest market by revenue. Sales in North America fell 2% from the year-ago period to $5.42 billion, just above the $5.39 billion analysts had expected, according to StreetAccount.
|
15768
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
While Nike remains bullish on China, the region's economic recovery has so far been a mixed bag. Following a sluggish July, retail sales picked up during the month of August to rise 4.6% compared to the prior year, beating expectations of a 3% growth forecast by Reuters.
"We feel good about the market there and our position," said CEO John Donahoe, adding he's traveled to China twice in the last four months. "Frankly, a couple things stand out. One, sport is back in China, you can just feel it, and that gives us great confidence about the future and the Chinese consumer in our segment, regardless of the macroeconomic outlook there."
Nike saw sales jumps in every region besides North America, its largest market by revenue. Sales in North America fell 2% from the year-ago period to $5.42 billion, just above the $5.39 billion analysts had expected, according to StreetAccount.
In Europe, the Middle East and Africa, sales were up 8% at $3.61 billion.
|
15769
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Following a sluggish July, retail sales picked up during the month of August to rise 4.6% compared to the prior year, beating expectations of a 3% growth forecast by Reuters.
"We feel good about the market there and our position," said CEO John Donahoe, adding he's traveled to China twice in the last four months. "Frankly, a couple things stand out. One, sport is back in China, you can just feel it, and that gives us great confidence about the future and the Chinese consumer in our segment, regardless of the macroeconomic outlook there."
Nike saw sales jumps in every region besides North America, its largest market by revenue. Sales in North America fell 2% from the year-ago period to $5.42 billion, just above the $5.39 billion analysts had expected, according to StreetAccount.
In Europe, the Middle East and Africa, sales were up 8% at $3.61 billion. That compared with the $3.51 billion analysts had expected.
|
15770
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"We feel good about the market there and our position," said CEO John Donahoe, adding he's traveled to China twice in the last four months. "Frankly, a couple things stand out. One, sport is back in China, you can just feel it, and that gives us great confidence about the future and the Chinese consumer in our segment, regardless of the macroeconomic outlook there."
Nike saw sales jumps in every region besides North America, its largest market by revenue. Sales in North America fell 2% from the year-ago period to $5.42 billion, just above the $5.39 billion analysts had expected, according to StreetAccount.
In Europe, the Middle East and Africa, sales were up 8% at $3.61 billion. That compared with the $3.51 billion analysts had expected. Sales in its Latin America and Asia Pacific unit came in 2% higher at $1.57 billion, just shy of the $1.59 billion analysts had expected, according to StreetAccount.
|
15771
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"Frankly, a couple things stand out. One, sport is back in China, you can just feel it, and that gives us great confidence about the future and the Chinese consumer in our segment, regardless of the macroeconomic outlook there."
Nike saw sales jumps in every region besides North America, its largest market by revenue. Sales in North America fell 2% from the year-ago period to $5.42 billion, just above the $5.39 billion analysts had expected, according to StreetAccount.
In Europe, the Middle East and Africa, sales were up 8% at $3.61 billion. That compared with the $3.51 billion analysts had expected. Sales in its Latin America and Asia Pacific unit came in 2% higher at $1.57 billion, just shy of the $1.59 billion analysts had expected, according to StreetAccount.
The Converse brand, on the other hand, fell well short of expectations for a second quarter in a row.
|
15772
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
One, sport is back in China, you can just feel it, and that gives us great confidence about the future and the Chinese consumer in our segment, regardless of the macroeconomic outlook there."
Nike saw sales jumps in every region besides North America, its largest market by revenue. Sales in North America fell 2% from the year-ago period to $5.42 billion, just above the $5.39 billion analysts had expected, according to StreetAccount.
In Europe, the Middle East and Africa, sales were up 8% at $3.61 billion. That compared with the $3.51 billion analysts had expected. Sales in its Latin America and Asia Pacific unit came in 2% higher at $1.57 billion, just shy of the $1.59 billion analysts had expected, according to StreetAccount.
The Converse brand, on the other hand, fell well short of expectations for a second quarter in a row. Sales came in at $588 million, down 9% compared to the year-ago period.
|
15773
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Nike saw sales jumps in every region besides North America, its largest market by revenue. Sales in North America fell 2% from the year-ago period to $5.42 billion, just above the $5.39 billion analysts had expected, according to StreetAccount.
In Europe, the Middle East and Africa, sales were up 8% at $3.61 billion. That compared with the $3.51 billion analysts had expected. Sales in its Latin America and Asia Pacific unit came in 2% higher at $1.57 billion, just shy of the $1.59 billion analysts had expected, according to StreetAccount.
The Converse brand, on the other hand, fell well short of expectations for a second quarter in a row. Sales came in at $588 million, down 9% compared to the year-ago period. Analysts had expected sales to be about $660 million, according to StreetAccount.
|
15774
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Nike saw sales jumps in every region besides North America, its largest market by revenue. Sales in North America fell 2% from the year-ago period to $5.42 billion, just above the $5.39 billion analysts had expected, according to StreetAccount.
In Europe, the Middle East and Africa, sales were up 8% at $3.61 billion. That compared with the $3.51 billion analysts had expected. Sales in its Latin America and Asia Pacific unit came in 2% higher at $1.57 billion, just shy of the $1.59 billion analysts had expected, according to StreetAccount.
The Converse brand, on the other hand, fell well short of expectations for a second quarter in a row. Sales came in at $588 million, down 9% compared to the year-ago period. Analysts had expected sales to be about $660 million, according to StreetAccount.
Nike's direct channel, which includes its owned stores and its digital channel, led the retailer's growth during the quarter and was up 6% compared to the prior year.
|
15775
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
In Europe, the Middle East and Africa, sales were up 8% at $3.61 billion. That compared with the $3.51 billion analysts had expected. Sales in its Latin America and Asia Pacific unit came in 2% higher at $1.57 billion, just shy of the $1.59 billion analysts had expected, according to StreetAccount.
The Converse brand, on the other hand, fell well short of expectations for a second quarter in a row. Sales came in at $588 million, down 9% compared to the year-ago period. Analysts had expected sales to be about $660 million, according to StreetAccount.
Nike's direct channel, which includes its owned stores and its digital channel, led the retailer's growth during the quarter and was up 6% compared to the prior year. In June, the company noticed that shoppers were shifting towards its stores over its digital channels, signaling consumers are getting closer to pre-pandemic shopping habits.
|
15776
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
That compared with the $3.51 billion analysts had expected. Sales in its Latin America and Asia Pacific unit came in 2% higher at $1.57 billion, just shy of the $1.59 billion analysts had expected, according to StreetAccount.
The Converse brand, on the other hand, fell well short of expectations for a second quarter in a row. Sales came in at $588 million, down 9% compared to the year-ago period. Analysts had expected sales to be about $660 million, according to StreetAccount.
Nike's direct channel, which includes its owned stores and its digital channel, led the retailer's growth during the quarter and was up 6% compared to the prior year. In June, the company noticed that shoppers were shifting towards its stores over its digital channels, signaling consumers are getting closer to pre-pandemic shopping habits.
"We continue to see that consumers want to connect directly and personally with our brands and in fact, member engagement within our direct business is up double digits versus the prior year with increasing average order values," said Friend.
|
15777
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
The Converse brand, on the other hand, fell well short of expectations for a second quarter in a row. Sales came in at $588 million, down 9% compared to the year-ago period. Analysts had expected sales to be about $660 million, according to StreetAccount.
Nike's direct channel, which includes its owned stores and its digital channel, led the retailer's growth during the quarter and was up 6% compared to the prior year. In June, the company noticed that shoppers were shifting towards its stores over its digital channels, signaling consumers are getting closer to pre-pandemic shopping habits.
"We continue to see that consumers want to connect directly and personally with our brands and in fact, member engagement within our direct business is up double digits versus the prior year with increasing average order values," said Friend.
"Our stores delivered an especially strong quarter with traffic up double digits from last year, and members driving an increasing share of our business as consumers shifted from our digital to physical channels... Our team was nimble in transitioning inventory to capture higher full-price sales across our entire store fleet," he said.
|
15778
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Analysts had expected sales to be about $660 million, according to StreetAccount.
Nike's direct channel, which includes its owned stores and its digital channel, led the retailer's growth during the quarter and was up 6% compared to the prior year. In June, the company noticed that shoppers were shifting towards its stores over its digital channels, signaling consumers are getting closer to pre-pandemic shopping habits.
"We continue to see that consumers want to connect directly and personally with our brands and in fact, member engagement within our direct business is up double digits versus the prior year with increasing average order values," said Friend.
"Our stores delivered an especially strong quarter with traffic up double digits from last year, and members driving an increasing share of our business as consumers shifted from our digital to physical channels... Our team was nimble in transitioning inventory to capture higher full-price sales across our entire store fleet," he said.
When it comes to its wholesale revenues, Nike's relationship with those partners have been rocky.
|
15779
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Nike's direct channel, which includes its owned stores and its digital channel, led the retailer's growth during the quarter and was up 6% compared to the prior year. In June, the company noticed that shoppers were shifting towards its stores over its digital channels, signaling consumers are getting closer to pre-pandemic shopping habits.
"We continue to see that consumers want to connect directly and personally with our brands and in fact, member engagement within our direct business is up double digits versus the prior year with increasing average order values," said Friend.
"Our stores delivered an especially strong quarter with traffic up double digits from last year, and members driving an increasing share of our business as consumers shifted from our digital to physical channels... Our team was nimble in transitioning inventory to capture higher full-price sales across our entire store fleet," he said.
When it comes to its wholesale revenues, Nike's relationship with those partners have been rocky. As the company has pivoted to a direct-to-consumer model, it has focused on driving sales online and in its stores at the expense of its wholesale accounts.
|
15780
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
In June, the company noticed that shoppers were shifting towards its stores over its digital channels, signaling consumers are getting closer to pre-pandemic shopping habits.
"We continue to see that consumers want to connect directly and personally with our brands and in fact, member engagement within our direct business is up double digits versus the prior year with increasing average order values," said Friend.
"Our stores delivered an especially strong quarter with traffic up double digits from last year, and members driving an increasing share of our business as consumers shifted from our digital to physical channels... Our team was nimble in transitioning inventory to capture higher full-price sales across our entire store fleet," he said.
When it comes to its wholesale revenues, Nike's relationship with those partners have been rocky. As the company has pivoted to a direct-to-consumer model, it has focused on driving sales online and in its stores at the expense of its wholesale accounts.
However, as Nike grappled with excess inventories throughout 2023, it relied on those partners to move through that merchandise.
|
15781
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"We continue to see that consumers want to connect directly and personally with our brands and in fact, member engagement within our direct business is up double digits versus the prior year with increasing average order values," said Friend.
"Our stores delivered an especially strong quarter with traffic up double digits from last year, and members driving an increasing share of our business as consumers shifted from our digital to physical channels... Our team was nimble in transitioning inventory to capture higher full-price sales across our entire store fleet," he said.
When it comes to its wholesale revenues, Nike's relationship with those partners have been rocky. As the company has pivoted to a direct-to-consumer model, it has focused on driving sales online and in its stores at the expense of its wholesale accounts.
However, as Nike grappled with excess inventories throughout 2023, it relied on those partners to move through that merchandise. It has now restored its relationship with both Macy's and DSW – accounts that it previously cut in favor of its DTC strategy.
|
15782
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"Our stores delivered an especially strong quarter with traffic up double digits from last year, and members driving an increasing share of our business as consumers shifted from our digital to physical channels... Our team was nimble in transitioning inventory to capture higher full-price sales across our entire store fleet," he said.
When it comes to its wholesale revenues, Nike's relationship with those partners have been rocky. As the company has pivoted to a direct-to-consumer model, it has focused on driving sales online and in its stores at the expense of its wholesale accounts.
However, as Nike grappled with excess inventories throughout 2023, it relied on those partners to move through that merchandise. It has now restored its relationship with both Macy's and DSW – accounts that it previously cut in favor of its DTC strategy.
Some analysts expected Nike's wholesale revenue to be sluggish during the quarter because excess inventories have been a problem throughout the retail industry – and some wholesalers are being more particular in what they order to avoid another backlog.
|
15783
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
When it comes to its wholesale revenues, Nike's relationship with those partners have been rocky. As the company has pivoted to a direct-to-consumer model, it has focused on driving sales online and in its stores at the expense of its wholesale accounts.
However, as Nike grappled with excess inventories throughout 2023, it relied on those partners to move through that merchandise. It has now restored its relationship with both Macy's and DSW – accounts that it previously cut in favor of its DTC strategy.
Some analysts expected Nike's wholesale revenue to be sluggish during the quarter because excess inventories have been a problem throughout the retail industry – and some wholesalers are being more particular in what they order to avoid another backlog.
Wholesale revenue during the quarter was flat compared to the year-ago period at $7 billion.
Both Donahoe and Friend made it clear to analysts that Nike is ready to meet customers in all channels — including through wholesalers and directly.
|
15784
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
When it comes to its wholesale revenues, Nike's relationship with those partners have been rocky. As the company has pivoted to a direct-to-consumer model, it has focused on driving sales online and in its stores at the expense of its wholesale accounts.
However, as Nike grappled with excess inventories throughout 2023, it relied on those partners to move through that merchandise. It has now restored its relationship with both Macy's and DSW – accounts that it previously cut in favor of its DTC strategy.
Some analysts expected Nike's wholesale revenue to be sluggish during the quarter because excess inventories have been a problem throughout the retail industry – and some wholesalers are being more particular in what they order to avoid another backlog.
Wholesale revenue during the quarter was flat compared to the year-ago period at $7 billion.
Both Donahoe and Friend made it clear to analysts that Nike is ready to meet customers in all channels — including through wholesalers and directly. The retailer shouted out Dick's Sporting Goods as one of its key partners and noted that it's still in the process of resetting its business with Footlocker , which has seen two quarters in a row of plunging sales and profits.
|
15785
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
However, as Nike grappled with excess inventories throughout 2023, it relied on those partners to move through that merchandise. It has now restored its relationship with both Macy's and DSW – accounts that it previously cut in favor of its DTC strategy.
Some analysts expected Nike's wholesale revenue to be sluggish during the quarter because excess inventories have been a problem throughout the retail industry – and some wholesalers are being more particular in what they order to avoid another backlog.
Wholesale revenue during the quarter was flat compared to the year-ago period at $7 billion.
Both Donahoe and Friend made it clear to analysts that Nike is ready to meet customers in all channels — including through wholesalers and directly. The retailer shouted out Dick's Sporting Goods as one of its key partners and noted that it's still in the process of resetting its business with Footlocker , which has seen two quarters in a row of plunging sales and profits.
Despite the shift in how it's working with wholesalers, Nike insisted that direct sales will pave the way to its future growth.
|
15786
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
It has now restored its relationship with both Macy's and DSW – accounts that it previously cut in favor of its DTC strategy.
Some analysts expected Nike's wholesale revenue to be sluggish during the quarter because excess inventories have been a problem throughout the retail industry – and some wholesalers are being more particular in what they order to avoid another backlog.
Wholesale revenue during the quarter was flat compared to the year-ago period at $7 billion.
Both Donahoe and Friend made it clear to analysts that Nike is ready to meet customers in all channels — including through wholesalers and directly. The retailer shouted out Dick's Sporting Goods as one of its key partners and noted that it's still in the process of resetting its business with Footlocker , which has seen two quarters in a row of plunging sales and profits.
Despite the shift in how it's working with wholesalers, Nike insisted that direct sales will pave the way to its future growth.
"Ultimately, we have a segmented portfolio of strong partners across price points and channels.
|
15787
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Some analysts expected Nike's wholesale revenue to be sluggish during the quarter because excess inventories have been a problem throughout the retail industry – and some wholesalers are being more particular in what they order to avoid another backlog.
Wholesale revenue during the quarter was flat compared to the year-ago period at $7 billion.
Both Donahoe and Friend made it clear to analysts that Nike is ready to meet customers in all channels — including through wholesalers and directly. The retailer shouted out Dick's Sporting Goods as one of its key partners and noted that it's still in the process of resetting its business with Footlocker , which has seen two quarters in a row of plunging sales and profits.
Despite the shift in how it's working with wholesalers, Nike insisted that direct sales will pave the way to its future growth.
"Ultimately, we have a segmented portfolio of strong partners across price points and channels. With no single partner representing more than a mid-single digit of Nike's total business," said Friend.
|
15788
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Some analysts expected Nike's wholesale revenue to be sluggish during the quarter because excess inventories have been a problem throughout the retail industry – and some wholesalers are being more particular in what they order to avoid another backlog.
Wholesale revenue during the quarter was flat compared to the year-ago period at $7 billion.
Both Donahoe and Friend made it clear to analysts that Nike is ready to meet customers in all channels — including through wholesalers and directly. The retailer shouted out Dick's Sporting Goods as one of its key partners and noted that it's still in the process of resetting its business with Footlocker , which has seen two quarters in a row of plunging sales and profits.
Despite the shift in how it's working with wholesalers, Nike insisted that direct sales will pave the way to its future growth.
"Ultimately, we have a segmented portfolio of strong partners across price points and channels. With no single partner representing more than a mid-single digit of Nike's total business," said Friend.
"While the ultimate landing spot of digital and direct isn't as clear, we do believe we're going to be a more direct and a more digital company, and a more profitable company," he said.
|
15789
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Wholesale revenue during the quarter was flat compared to the year-ago period at $7 billion.
Both Donahoe and Friend made it clear to analysts that Nike is ready to meet customers in all channels — including through wholesalers and directly. The retailer shouted out Dick's Sporting Goods as one of its key partners and noted that it's still in the process of resetting its business with Footlocker , which has seen two quarters in a row of plunging sales and profits.
Despite the shift in how it's working with wholesalers, Nike insisted that direct sales will pave the way to its future growth.
"Ultimately, we have a segmented portfolio of strong partners across price points and channels. With no single partner representing more than a mid-single digit of Nike's total business," said Friend.
"While the ultimate landing spot of digital and direct isn't as clear, we do believe we're going to be a more direct and a more digital company, and a more profitable company," he said. "And there's a channel mix and channel profitability opportunity that comes with that as well."
|
15790
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Both Donahoe and Friend made it clear to analysts that Nike is ready to meet customers in all channels — including through wholesalers and directly. The retailer shouted out Dick's Sporting Goods as one of its key partners and noted that it's still in the process of resetting its business with Footlocker , which has seen two quarters in a row of plunging sales and profits.
Despite the shift in how it's working with wholesalers, Nike insisted that direct sales will pave the way to its future growth.
"Ultimately, we have a segmented portfolio of strong partners across price points and channels. With no single partner representing more than a mid-single digit of Nike's total business," said Friend.
"While the ultimate landing spot of digital and direct isn't as clear, we do believe we're going to be a more direct and a more digital company, and a more profitable company," he said. "And there's a channel mix and channel profitability opportunity that comes with that as well."
Meanwhile, inventories fell 10% to $8.7 billion.
|
15791
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
The retailer shouted out Dick's Sporting Goods as one of its key partners and noted that it's still in the process of resetting its business with Footlocker , which has seen two quarters in a row of plunging sales and profits.
Despite the shift in how it's working with wholesalers, Nike insisted that direct sales will pave the way to its future growth.
"Ultimately, we have a segmented portfolio of strong partners across price points and channels. With no single partner representing more than a mid-single digit of Nike's total business," said Friend.
"While the ultimate landing spot of digital and direct isn't as clear, we do believe we're going to be a more direct and a more digital company, and a more profitable company," he said. "And there's a channel mix and channel profitability opportunity that comes with that as well."
Meanwhile, inventories fell 10% to $8.7 billion. The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
|
15792
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Despite the shift in how it's working with wholesalers, Nike insisted that direct sales will pave the way to its future growth.
"Ultimately, we have a segmented portfolio of strong partners across price points and channels. With no single partner representing more than a mid-single digit of Nike's total business," said Friend.
"While the ultimate landing spot of digital and direct isn't as clear, we do believe we're going to be a more direct and a more digital company, and a more profitable company," he said. "And there's a channel mix and channel profitability opportunity that comes with that as well."
Meanwhile, inventories fell 10% to $8.7 billion. The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
"On the whole, we're very comfortable with the level of inventory in the marketplace in relation to the retail sales that we're seeing as we begin increasing levels of wholesale sell in our second half," said Friend.
|
15793
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Despite the shift in how it's working with wholesalers, Nike insisted that direct sales will pave the way to its future growth.
"Ultimately, we have a segmented portfolio of strong partners across price points and channels. With no single partner representing more than a mid-single digit of Nike's total business," said Friend.
"While the ultimate landing spot of digital and direct isn't as clear, we do believe we're going to be a more direct and a more digital company, and a more profitable company," he said. "And there's a channel mix and channel profitability opportunity that comes with that as well."
Meanwhile, inventories fell 10% to $8.7 billion. The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
"On the whole, we're very comfortable with the level of inventory in the marketplace in relation to the retail sales that we're seeing as we begin increasing levels of wholesale sell in our second half," said Friend.
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear.
|
15794
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"Ultimately, we have a segmented portfolio of strong partners across price points and channels. With no single partner representing more than a mid-single digit of Nike's total business," said Friend.
"While the ultimate landing spot of digital and direct isn't as clear, we do believe we're going to be a more direct and a more digital company, and a more profitable company," he said. "And there's a channel mix and channel profitability opportunity that comes with that as well."
Meanwhile, inventories fell 10% to $8.7 billion. The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
"On the whole, we're very comfortable with the level of inventory in the marketplace in relation to the retail sales that we're seeing as we begin increasing levels of wholesale sell in our second half," said Friend.
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear. With the resumption of student loan payments looming ahead, some analysts expect those sectors to take an even greater hit.
|
15795
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
With no single partner representing more than a mid-single digit of Nike's total business," said Friend.
"While the ultimate landing spot of digital and direct isn't as clear, we do believe we're going to be a more direct and a more digital company, and a more profitable company," he said. "And there's a channel mix and channel profitability opportunity that comes with that as well."
Meanwhile, inventories fell 10% to $8.7 billion. The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
"On the whole, we're very comfortable with the level of inventory in the marketplace in relation to the retail sales that we're seeing as we begin increasing levels of wholesale sell in our second half," said Friend.
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear. With the resumption of student loan payments looming ahead, some analysts expect those sectors to take an even greater hit.
Jefferies conducted a survey on U.S.
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15796
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Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"While the ultimate landing spot of digital and direct isn't as clear, we do believe we're going to be a more direct and a more digital company, and a more profitable company," he said. "And there's a channel mix and channel profitability opportunity that comes with that as well."
Meanwhile, inventories fell 10% to $8.7 billion. The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
"On the whole, we're very comfortable with the level of inventory in the marketplace in relation to the retail sales that we're seeing as we begin increasing levels of wholesale sell in our second half," said Friend.
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear. With the resumption of student loan payments looming ahead, some analysts expect those sectors to take an even greater hit.
Jefferies conducted a survey on U.S. consumer spending and found 54% of respondents plan to spend less on apparel and accessories.
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15797
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Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"And there's a channel mix and channel profitability opportunity that comes with that as well."
Meanwhile, inventories fell 10% to $8.7 billion. The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
"On the whole, we're very comfortable with the level of inventory in the marketplace in relation to the retail sales that we're seeing as we begin increasing levels of wholesale sell in our second half," said Friend.
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear. With the resumption of student loan payments looming ahead, some analysts expect those sectors to take an even greater hit.
Jefferies conducted a survey on U.S. consumer spending and found 54% of respondents plan to spend less on apparel and accessories. Meanwhile, 46% plan to spend less on footwear, which doesn't bode well for Nike.
|
15798
|
Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
"And there's a channel mix and channel profitability opportunity that comes with that as well."
Meanwhile, inventories fell 10% to $8.7 billion. The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
"On the whole, we're very comfortable with the level of inventory in the marketplace in relation to the retail sales that we're seeing as we begin increasing levels of wholesale sell in our second half," said Friend.
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear. With the resumption of student loan payments looming ahead, some analysts expect those sectors to take an even greater hit.
Jefferies conducted a survey on U.S. consumer spending and found 54% of respondents plan to spend less on apparel and accessories. Meanwhile, 46% plan to spend less on footwear, which doesn't bode well for Nike.
It's still too early to gauge the impact of student loan payments on Nike.
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15799
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Nike misses revenue expectations for the first time in two years, beats on earnings and gross margin
Meanwhile, inventories fell 10% to $8.7 billion. The drop was driven by a decrease in units but offset by product mix and higher manufacturing and production costs.
"On the whole, we're very comfortable with the level of inventory in the marketplace in relation to the retail sales that we're seeing as we begin increasing levels of wholesale sell in our second half," said Friend.
Amid decades-high inflation rates, consumers have been pulling back on apparel and footwear. With the resumption of student loan payments looming ahead, some analysts expect those sectors to take an even greater hit.
Jefferies conducted a survey on U.S. consumer spending and found 54% of respondents plan to spend less on apparel and accessories. Meanwhile, 46% plan to spend less on footwear, which doesn't bode well for Nike.
It's still too early to gauge the impact of student loan payments on Nike. Its first quarter ended in late August, and payments aren't set to resume until October.
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