;
Home / Knowledge / News / Textiles / Nike revenue grows 13% in Q4FY18
Nike revenue grows 13% in Q4FY18
03
Jul '18
Courtesy: Nike
Courtesy: Nike
The fourth quarter revenue of the US headquartered Nike for fiscal 2018 has gone up13 per cent to a total of $9.8 billion driven by strong double-digit revenue growth in international markets and Nike Direct globally, and a return to growth in North America. Revenue for the Nike Brand for full year 2018 was posted at $34.5 billion, up 5 per cent.

Diluted earnings per share for the fourth quarter rose 15 per cent to $0.69, primarily due to strong revenue growth, gross margin expansion, a lower tax rate and a lower average share count, which were partially offset by higher selling and administrative expense. While for fiscal 2018, diluted earnings per share decreased 53 per cent to $1.17, which includes a decline in the weighted average diluted common shares outstanding.

In the fourth quarter, net income rose 13 per cent to $1.1 billion primarily due to strong global revenue growth, gross margin expansion and a lower tax rate, which were partially offset by higher selling and administrative expense, while diluted earnings per share increased 15 per cent to $0.69 reflecting a 2 percent decline in the weighted average diluted common shares outstanding. However, for full year, the net income decreased 54 per cent to $1.9 billion primarily related to the impact of the Tax Act, which offset strong revenue growth.

Selling and administrative expense soared 17 per cent in the fourth quarter to $3.1 billion. Demand creation expense was $983 million, up 25 per cent, primarily driven by sports marketing investments, new product launch and brand campaigns, and unfavourable changes in foreign currency exchange rates. Operating overhead expense increased 14 per cent to $2.1 billion, largely due to investments in global operations and capabilities to drive the Consumer Direct Offense, and, to a lesser extent, unfavorable changes in foreign currency exchange rates.

"Our new innovation is winning with consumers, driving significant momentum in our international geographies and a return to growth in North America," said Mark Parker, chairman, president and CEO, Nike, Inc. "Fueled by a complete digital transformation of our company end-to-end, this year set the foundation for Nike’s next wave of long-term, sustainable growth and profitability."

Cash and equivalents and short-term investments were $5.2 billion in 2018, $934 million lower than last year as share repurchases, dividends and investments in infrastructure more than offset net income and proceeds from employee exercises of stock options.

The company also announced that its board of directors has authorised a new four-year, $15 billion programme to repurchase shares of Nike’s Class B Common Stock. The company anticipates that the current $12 billion share repurchase programme will be completed within fiscal 2019, and the new programme will commence upon the completion of the current programme. (RR)

Fibre2Fashion News Desk – India


Must ReadView All

Anthesis Group takes over key assets of Made-By

Apparel/Garments | On 20th Jan 2019

Anthesis Group takes over key assets of Made-By

Anthesis Group, the global sustainability and solutions provider, has ...

ZDHC signatory brands share tools on screened chemistry

Apparel/Garments | On 20th Jan 2019

ZDHC signatory brands share tools on screened chemistry

ZDHC signatory brands - Levi Strauss & Co, Nike, H&M and C&A – are...

Courtesy: Global fashion agenda

Apparel/Garments | On 20th Jan 2019

ASOS, PVH become partners to Global Fashion Agenda

ASOS and PVH Corp are becoming part of the Global Fashion Agenda’s...

Interviews View All

Headhonchos, Textiles & allied industry

Headhonchos
Textiles & allied industry

Textiles industry is always in the forefront in accepting latest technology

Janak Dhamanwala & Sunil Dhamanwala, Jansun

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Manfred Mentges, Sedo Treepoint GmbH

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Harmeet Singh,

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Erik Sy,

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

John Kelley,

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Suresh Patel, Sidwin Fabric

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Paolo Ocleppo, Sandvik Hyperion

Paolo Ocleppo
Sandvik Hyperion

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

Karl Zelik, Vanderbilt University

Karl Zelik
Vanderbilt University

A team of engineers at the Vanderbilt University has designed a smart...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sandeep and Sarah Shaikh Gonsalves, SS Homme

Sandeep and Sarah Shaikh Gonsalves
SS Homme

SS Homme celebrates the craft of traditional tailoring through the bespoke ...

Priya Somaiya, Usha Social Services

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


January 2019

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

news category


Related Categories:

Advanced Search