Home / Knowledge / News / Textiles / Nike Q4 2017 revenue rises 5 per cent
Nike Q4 2017 revenue rises 5 per cent
03
Jul '17
For the fourth quarter of 2017, Nike's revenue has gone up 5 per cent to $8.7 billion. On currency neutral basis, the company has achieved 7 per cent growth. For 2017, revenue went up 6 per cent to $34.4 billion. International geographies and the Direct-to-Consumer (DTC) businesses globally led strong revenue growth in the fourth quarter and full year.

Revenue for Nike brand was $8.1 billion, up 7 per cent on a currency-neutral basis driven by double-digit growth in Western Europe, Greater China, and the emerging markets, and strong growth in sportswear and running. The company's net income increased 19 per cent to $1.0 billion primarily due to global revenue growth, lower selling and administrative expense and a lower tax rate which were slightly offset by a gross margin decline, while diluted earnings per share increased 22 per cent to $0.60 reflecting a nearly 3 per cent decline in the weighted average diluted common shares outstanding.

"Nike continues to create both near-term wins in today’s dynamic environment and a lasting foundation for future growth," said Mark Parker, chairman, president and CEO, Nike. "Through our consumer direct offense, we are putting even more firepower behind our greatest opportunities in fiscal 2018. It will be a big year for Nike innovation and we’ll bring those stories to life through deeper consumer connections in our key cities around the world."

The company's gross margin declined 180 basis points to 44.1 per cent as higher average selling prices were more than offset by unfavourable changes in foreign currency exchange rates and higher product costs. Its selling and administrative expense decreased 4 per cent to $2.7 billion. Demand creation expense was $789 million, down 10 per cent, as fiscal 2017 spend was weighted towards the beginning of the year due to significant investments around the Olympics and the European Football Championship. Operating overhead expense decreased 1 per cent to $1.9 billion, as continued investments in DTC were offset by administrative cost efficiencies. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: European Commission/European Union

Textiles | On 26th May 2018

EU set to negotiate FTAs with Australia & New Zealand

The European Union is all set to begin negotiations for free trade...

US bans import of cotton goods from Turkmenistan

Textiles | On 26th May 2018

US bans import of cotton goods from Turkmenistan

The US Customs and Border Protection (CBP) has issued a Withhold...

FPCCI prepares report on Pakistan's export issues

Textiles | On 26th May 2018

FPCCI prepares report on Pakistan's export issues

Federation of Pakistan Chambers of Commerce and Industry (FPCCI)’s...

Interviews View All

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Victor Chao
Esmetex

‘In future, clothing boundary lines will become increasingly blurred.’

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search