Home / Knowledge / News / Results/Reports / Nike revenue climbs 10% in Q2FY19

Nike revenue climbs 10% in Q2FY19

24
Dec '18
Courtesy: Nike
Courtesy: Nike
The revenue for Nike during the second quarter of fiscal 2018 has increased 10 per cent to $9.4 billion, up 14 per cent on a currency- neutral basis. For the quarter, double-digit revenue growth was driven by strategic execution of the Consumer Direct Offense across all dimensions of the portfolio globally. Gross margin increased to 43.8 per cent.

"Nike’s ambitious digital transformation is driving strong results and momentum in North America and in our international geographies," said Mark Parker, chairman, president and CEO, Nike, Inc. "We’re incredibly energized about 2019 – with a full innovation pipeline; the most personal, responsive retail experiences in the industry; and a supply chain that’s delivering speed at scale."

Diluted earnings per share for the quarter were $0.52, an increase of 13 per cent driven by double-digit revenue growth, gross margin expansion and a lower average share count, partially offset by higher selling and administrative expenses and a higher effective tax rate.

"Amidst an increasingly dynamic macro environment, what is certain is that Nike’s execution of the Consumer Direct Offense is driving consistently strong growth across our diverse, global portfolio," said Andy Campion, executive vice president and chief financial officer, Nike, Inc. “As we continue to invest in digital transformation, we are driving consumer-centric disruption in our industry and unlocking new opportunities for growth."

During the second quarter, Nike, Inc. repurchased a total of 16.1 million shares for approximately $1.3 billion as part of the four-year, $12 billion program approved by the Board of Directors in November 2015. As of November 30, 2018, a total of 183.3 million shares had been repurchased under this program for approximately $11.3 billion. In June 2018, the board of directors authorised a new four-year $15 billion share repurchase program that will commence upon the completion of the current programme. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Textiles | On 19th Jan 2021

EU strategy for textiles roadmap published

A roadmap setting out the European Union (EU) strategy for...

Pic: Shutterstock

Retail | On 19th Jan 2021

Retailers may need to alter European supply chains: Fitch

Pan-European retailers may need to adapt supply chains due to the...

Pic: Messe Frankfurt

Textiles | On 19th Jan 2021

Heimtextil, Techtextil & Texprocess postponed until 2022

Messe Frankfurt, the trade fair organiser, has announced that after...

Interviews View All

Cindy McNaull, Cordura

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Subhashini Srinivasan, The S Studio

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Divyesh Mashruwala, Akshar Industries

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Arup Chakraborty,

Arup Chakraborty

Mirrorsize is a US-based start-up that provides artificial intelligence...

Luca Formentini,

Luca Formentini

From the very beginning, Loris Bellini's aim was to produce dyeing...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani, Corman S.p.A

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan, Biax Fiberfilm

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Robert Brunner, Devereux

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

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


January 2021

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


Advanced Search