NIKE clocks US $ 1 bil­lion net in­come in Q4

Apparel Online - - Retail Current -

Amer­i­can sports­wear com­pany NIKE Inc. has re­ported fi­nan­cial re­sults for the fourth quar­ter and full year end­ing

May 31, 2017. Dur­ing the pe­riod un­der re­view, in­ter­na­tional ge­ogra­phies and the Di­rect-toCon­sumer (DTC) busi­nesses glob­ally led strong rev­enue growth for the re­tailer.

The re­tailer noted 5% in­crease in fourth quar­ter rev­enue to US $ 8.7 bil­lion, up 7% on a cur­ren­cyneu­tral ba­sis.

“NIKE con­tin­ues to cre­ate both near-term wins in to­day’s dy­namic en­vi­ron­ment and a last­ing foun­da­tion for fu­ture growth. Through our Con­sumer Di­rect Of­fense, we’re 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,” said Mark Parker, Chair­man, Pres­i­dent and CEO, NIKE Inc.

Dur­ing the pe­riod, rev­enues for the NIKE brand were US $ 8.1 bil­lion, driven by dou­ble-digit growth in Western Europe, Greater China and the Emerg­ing Mar­kets and strong growth in Sports­wear and Run­ning. Rev­enues from the Con­verse brand stood at US $ 554 mil­lion, up 10% on a cur­ren­cyneu­tral ba­sis, pri­mar­ily driven by the mar­ket tran­si­tion in Italy and growth in DTC, the com­pany said. Net in­come for the quar­ter in­creased by 19% to US $ 1.0 bil­lion due to global rev­enue growth, lower sell­ing and ad­min­is­tra­tive ex­penses and a lower tax rate which were slightly off­set by a gross mar­gin de­cline. Rev­enues for NIKE Inc. in fis­cal 2017 zoomed 6% to US $ 34.4 bil­lion, up 8% on a cur­ren­cyneu­tral ba­sis, while net in­come dur­ing the year in­creased by 13% to US $ 4.2 bil­lion.

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