Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at firstname.lastname@example.org in case you need any other additional information.
Revenue for Converse totaled $463 million, down 2 per cent on currency-neutral basis, mainly driven by double-digit growth in Asia and digital which was more than offset by declines in the US and Europe. Revenue growth was driven by broad-based strength across all geographies as well as Nike Direct, led by digital.
Gross margin increased 130 basis points to 45.1 per cent primarily driven by higher average selling prices, favourable changes in foreign currency exchange rates and growth in NIike Direct, partially offset by higher product costs.
“In Q3, our team once again drove strong, healthy growth across NIKE’s complete portfolio,” said Mark Parker, chairman, president and CEO, Nike, Inc. “Our business momentum is being accelerated by our ability to scale innovation at a faster pace and expand new digital consumer experiences around the world.”
Diluted earnings per share for the quarter were $0.68 driven by strong revenue growth and gross margin expansion, partially offset by higher selling and administrative expenses. In the prior year period, diluted loss per share reflected the enactment of the US Tax Cuts and Jobs Act which has impacted comparability with the current period.
Net income was $1.1 billion in the third quarter and diluted earnings per share was $0.68 driven by strong revenue growth, gross margin expansion, the lower effective tax rate and a lower average share count, which were slightly offset by higher selling and administrative expenses.
“The Consumer Direct Offense is delivering broad-based growth across all four of our geographies, led by continued momentum in China,” said Andy Campion, executive vice president and chief financial officer, Nike, Inc. “We will continue investing in key capabilities to drive Nike’s digital transformation and fuel strong profitable growth into next fiscal year and beyond." (RR)
Fibre2Fashion News Desk – India
| On 15th Jul 2020
PolyOne Corporation, a global provider of specialised polymer...
| On 15th Jul 2020
Japan’s imports of clothing and accessories decreased by 1.5 per cent ...
A multi-vertical platform supporting the intricacies and nuances...
Orange O Tec
Contemporary industry is paying more and more attention to the...
‘Online economy has changed the whole dynamics of buying habits.’
‘France had a reputation of being big in new ideas, but poor in marketing...
Italtex is a leading studio publishing fabric trend-books since 1959....
Breya is a brand of Indo-Western clothes for women owned by ABP Apparels...
Karan Behal, founder and chief executive of top-selling brand...
Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...
<div>RocketLife, an award-winning developer of breakthrough visual...
Investkonsult Sweden AB
Investkonsult Sweden AB are consultants in the nonwoven and absorbent...
A Humming Way
A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...
Usha Social Services
The Usha Silai label from Usha International is all set for a retail...
Rupa Sood and Sharan Apparao
Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.