Nike Inc

NKE

Equity

ISIN US6541061031 / Valor 957150

New York Stock Exchange, Inc (2024-09-18)

USD 80.90+0.32%

Nike Inc
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About company

Nike Inc is a multinational corporation that designs, develops, and sells athletic footwear, apparel, equipment, and accessories. The company's regional operations for the Americas, Asia-Pacific, and United States are located at its World Headquarters. Nike Inc is known for its Nike Brand and serves customers globally through various channels. With a focus on innovation and performance, Nike Inc has established itself as a leading player in the sports apparel industry, catering to athletes and fitness enthusiasts worldwide.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Revenue Performance

Nike Inc. reported its financial results for the fiscal 2024 fourth quarter and full year ended May 31, 2024. The company's full-year revenues were $51.4 billion, a slight increase from $51.2 billion in the prior year, marking a 1 percent growth on a currency-neutral basis. However, fourth-quarter revenues were $12.6 billion, reflecting a 2 percent decline on a reported basis and remaining flat on a currency-neutral basis.

NIKE Direct and Wholesale Revenues

For the fourth quarter of fiscal 2024, Nike Inc.'s NIKE Direct revenues were $5.1 billion, showing an 8 percent decrease on a reported basis and a 7 percent decrease on a currency-neutral basis. In contrast, wholesale revenues for the same period were $7.1 billion, which represents a 5 percent increase on a reported basis and an 8 percent increase on a currency-neutral basis.

Gross Margin and Earnings

Nike Inc. saw an improvement in its gross margin for the fourth quarter of fiscal 2024, which increased by 110 basis points to 44.7 percent. The company's diluted earnings per share for the fourth quarter were $0.99, including $0.02 of restructuring charges, net of tax benefit. Excluding these charges, diluted earnings per share would have been $1.01.

Net Income and Tax Rate

In the fourth quarter of fiscal 2024, Nike Inc. reported a net income of $1.5 billion, which is a significant 45 percent increase compared to the same period last year. The effective tax rate for the quarter was 13.1 percent, down from 17.3 percent in the previous year, primarily due to changes in earnings mix and decreased benefits from stock-based compensation.

Shareholder Returns

During the fourth quarter of fiscal 2024, Nike Inc. returned approximately $1.6 billion to shareholders. This included dividends of $560 million, up 7 percent from the prior year, and share repurchases of $1.0 billion, reflecting 11.1 million shares retired as part of the four-year, $18 billion program approved by the Board of Directors in June 2022.

Summarized from source with an LLMView Source

Key figures

-15.3%1Y

-48.3%3Y

-8.15%5Y

Performance

35.7%1Y

34.9%3Y

34.8%5Y

Volatility