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Nike with excellent growth in revenue

Oct 2, 2014 United States
Nike with excellent growth in revenue
US sportswear maker and retailer announced 15% increase in revenue during the first quarter of the current financial year
"Fiscal year 2015 is off to a strong start. Our connection to consumers and ability to innovate, combined with our powerful global portfolio, is a complete offense”, stated Mark Parker, President and CEO of Nike, Inc. “Nike has never been better positioned to realize our tremendous growth potential.”

Nike, Inc. reported financial results for its fiscal 2015 first quarter ended 31st August characterized by strong demand for its brands, which propelled revenue growth, and diluted earnings per share to grew faster than revenue due to gross margin expansion, a lower tax rate and lower average share count.

Revenue for Nike, Inc. increased 15% on both a reported and currency neutral basis, to 8.0 billion US dollars.  Revenue for the Nike brand were 7.4 billion US dollars, up 15% on a currency neutral basis, with growth in every product type, geography and key category, except Action Sports and Golf. Revenue for Converse was 575 million US dollars, up 16% on a currency neutral basis, driven by market conversions in Europe and Asia as well as continued growth in direct distribution markets such as the United States and United Kingdom.

Footwear revenue for the Nike Brand reached 4 701 million US dollars, up by 18%, followed by apparel, growing at 11% and equipment with a more modest performance (+5%).



Net income increased 23% to 962 million US dollars, while diluted earnings per share increased 27% to 1.09 US dollars.

The company informed that: “As of the end of the quarter, worldwide futures orders for Nike brand athletic footwear and apparel scheduled for delivery from September 2014 through January 2015 were 11% higher than orders reported for the same period last year. Excluding currency changes, reported orders would have increased 14%.”

Shares of the company were last traded at 89.20 US dollars on the 30th September. Nike shot up 12% to a record high last week after its fiscal Q1 results beat on expectations.

NIKE, Inc., based near Beaverton, Oregon, is the a leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly owned NIKE, Inc. subsidiaries include Converse Inc., which designs, markets and distributes athletic lifestyle footwear, apparel and accessories, and Hurley International LLC, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories.

For more information, please visit the company’s website.

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