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Nike revenue gains 4% in Q4FY19

29
Jun '19

Pic: Nike

In the fourth quarter of fiscal 2019, the revenue of Nike improved to $10.2 billion, up 4 per cent on a reported basis and up 10 per cent on a currency-neutral basis. Full year revenue rose to $39.1 billion, up 7 per cent on a reported basis, as strategic investments in innovation and digital drove global consumer demand led by Nike Direct in both periods.

In the fourth quarter, revenue for the Nike Brand was $9.7 billion, up 10 per cent on a currency-neutral basis, driven by growth across Nike Direct and wholesale, key categories including Sportswear, Jordan and Basketball, and continued growth across footwear and apparel.

Revenue for Converse was posted at $491 million in the reported quarter, flat to prior year on a currency-neutral basis, mainly driven by double-digit growth in Asia and digital which was offset by declines in the US and Europe.

“FY19 was a pivotal year for Nike as we continue to bring our Consumer Direct Offense to life throughout the marketplace,” said Mark Parker, chairman, president and CEO, Nike, Inc. “Our distinctive innovation and digital advantage led to accelerated growth across our complete portfolio, while our brand fueled deeper relationships with consumers around the globe.”

During fiscal 2019, revenue for the Nike Brand was $37.2 billion, up 11 per cent on a currency-neutral basis driven by growth across Nike Direct and wholesale, key categories including Sportswear, Jordan and Running, and double-digit growth across footwear and apparel.

Nike Direct revenues was $11.8 billion, up 16 per cent on a currency-neutral basis, driven by a 35 percent increase in digital commerce sales, 6 per cent growth in comparable store sales as well as the addition of new stores. Sales to wholesale customers increased 10 per cent.

Revenue for Converse was $1.9 billion, up 3 per cent on a currency-neutral basis, mainly driven by double-digit growth in Asia and digital which was partially offset by declines in the US and Europe.

“Reflecting on our FY19 performance, it is clear that growth is paramount at Nike, and that our strong growth is being driven by strategic transformation,” said Andy Campion, executive vice president and CFO, Nike, Inc. “Amid foreign exchange volatility, our double-digit currency-neutral revenue growth and expanding Roic showcase Nike’s unrivaled ability to create extraordinary value for consumers and shareholders over the long term.” (RR)

Fibre2Fashion News Desk – India

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