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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


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