- NIKE, Inc design, development and worldwide marketing and selling of athletic footwear, apparel, equipment, accessories and service.
- NIKE is the largest seller of athletic footwear and apparel in the world.
NIKE, Inc (NYSE: NKE) design, development and worldwide marketing and selling of athletic footwear, apparel, equipment, accessories and services. NIKE is the largest seller of athletic footwear and apparel in the world.
Fiscal 2023 Second Quarter Results
12/20/2022; NIKE, Inc. reported fiscal 2023 financial results for its second quarter ended November 30, 2022.
- Second quarter reported revenues were $13.3 billion, up 17 percent compared to the prior year and up 27 percent on a currency-neutral basis.
- NIKE Direct sales were $5.4 billion, up 16 percent on a reported basis and up 25 percent on a currency-neutral basis.
- NIKE Brand Digital sales increased 25 percent on a reported basis, or 34 percent on a currency-neutral basis.
- Wholesale revenues grew 19 percent on a reported basis and 30 percent on a currency-neutral basis.
- Gross margin decreased 300 basis points to 42.9 percent.
- Diluted earnings per share for the quarter was $0.85, up 2 percent.
Fiscal 2022 Result
In fiscal 2022, NIKE, Inc. achieved record Revenues of $46.7 billion, which increased 5% and 6% on a reported and currency neutral basis, respectively, driven by higher revenues in EMEA, North America and APLA, partially offset by declines in Greater China. The NIKE Brand, which represents over 90% of NIKE, Inc.
Revenues, increased 5% and 6% on a reported and currency neutral basis, respectively, compared to fiscal 2021. NIKE Direct grew 14% and 15%, on a reported and currency-neutral basis, respectively, driven by an increase of 18% in NIKE Brand Digital, as growth in North America, APLA and EMEA was partially offset by a decline in Greater China. Consolidated gross profit increased 8% to $21,479 million compared to $19,962 million for fiscal 2021.
NIKE Brand product offerings are aligned around its consumer construct focused on Men’s, Women’s and Kids’. The company also design products specifically for the Jordan Brand and Converse.
NIKE’s athletic footwear products are designed primarily for specific athletic use, although a large percentage of the products are worn for casual or leisure purposes. The company also sell sports apparel, which features the same trademarks and are sold predominantly through the same marketing and distribution channels as athletic footwear.
|NIKE Brand factory stores||209||597|
|NIKE Brand in-line stores (including employee-only stores)||48||47|
|Converse stores (including factory stores)||87||58|
The company sell a line of performance equipment and accessories under the NIKE Brand name, including bags, socks, sport balls, eyewear, timepieces, digital devices, bats, gloves, protective equipment and other equipment designed for sports activities. The company also sell small amounts of various plastic products to other manufacturers through its wholly-owned subsidiary, NIKE IHM, Inc., doing business as Air Manufacturing Innovation. Jordan Brand designs, distributes and licenses athletic and casual footwear, apparel and accessories predominantly focused on basketball performance and culture using the Jumpman trademark.
|Air Force 1||All Shoes||All Clothing||Infant & Toddler Shoes|
|Jordan 1||Jordan Shoes||Tops & T-Shirts||Kids' Shoes|
|Air Max 2090||Running Shoes||Shorts||Kids' Basketball Shoes|
|Air Max 270||Basketball Shoes||Hoodies & Pullovers||Kids' Running Shoes|
|Air Max 97||Tennis Shoes||Joggers & Sweatpants||Kids' Jordan Shoes|
|Air Max 90||Training Shoes||Sports Bras||Kids' Clothing|
|Blazer||Custom Shoes||Pants & Tights||Kids' Backpacks|
|React||Sale Shoes||Socks||Kids' Socks|
|Pegasus||Soccer Cleats||Yoga||Kids' Sale|
|Big & Tall|
Nike was supplied by 120 finished goods footwear contract factories located in 11 countries. For fiscal 2022, contract factories in Vietnam, Indonesia and China manufactured approximately 44%, 30% and 20% of total NIKE Brand footwear, respectively.
Nike was supplied by 279 finished goods apparel contract factories located in 33 countries. For fiscal 2022, contract factories in Vietnam, China and Cambodia manufactured approximately 26%, 20% and 16% of total NIKE Brand apparel, respectively.