Revenue Performance - Full year revenues were 51.4billion,up112.6 billion, down 2% on a reported basis and flat on a currency-neutral basis[2] - NIKE Direct revenues for the fourth quarter were 5.1billion,down87.1 billion, up 5% on a reported basis and up 8% on a currency-neutral basis[2] - Revenues for Converse were 480million,down1851.36 billion, showing a 0% change compared to 51.22billionin2023[14]−FootwearrevenueinNorthAmericadecreasedby63.59 billion in Q2 2024 from 3.81billioninQ22023[14]−ApparelrevenueinGreaterChinaincreasedby101.83 billion for the twelve months ended May 31, 2024, compared to 1.67 billion in 2023[14] - Equipment revenue in Europe, Middle East & Africa grew by 27% to 754 million for the twelve months ended May 31, 2024, from 592millionin2023[14]−Converserevenuedecreasedby142.08 billion for the twelve months ended May 31, 2024, from 2.43billionin2023[14]−NikeBrand′stotalrevenuesforthetwelvemonthsendedMay31,2024,were49.32 billion, showing a 1% increase compared to 48.76billionin2023[15]−NIKEBrandtotalrevenuesincreasedby149,322 million, with wholesale sales up 1% to 27,758millionanddirectsalesup121,519 million[16] - Jordan Brand revenues grew by 6% to 6,988million,thehighestgrowthamongallcategories[16]−NorthAmericarevenuesincreasedby51,462 million for the quarter and 7% to 5,822millionfortheyear[18]−GreaterChinarevenuesgrewby4548 million for the quarter and 1% to 2,309millionfortheyear[18]−GlobalBrandDivisionsrevenuesdecreasedby2245 million[16] - Converse revenues declined by 37% to 94millionforthequarterand30474 million for the year[18] Profitability and Margins - Gross margin for the fourth quarter increased 110 basis points to 44.7%[2] - Net income was 1.5billion,up451,673 million for the quarter and 6% to 6,539millionfortheyear[18]−EBITmarginimprovedto13.31.01 for the quarter and 3.95fortheyear[20]InventoryandAssets−InventoriesforNIKE,Inc.were7.5 billion, down 11% compared to the prior year[6] - Nike's total assets increased by 2% to 38.11billionin2024comparedto37.53 billion in 2023[13] - Cash and equivalents grew by 33% to 9.86billionin2024from7.44 billion in 2023[13] - Inventories decreased by 11% to 7.52billionin2024from8.45 billion in 2023[13] Shareholder Returns - The Company returned approximately 1.6billiontoshareholdersinthefourthquarter,including560 million in dividends and 1.0billioninsharerepurchases[7]EarningsPerShare−Dilutedearningspersharewas0.99 for the fourth quarter[2] - Diluted EPS excluding restructuring charges was 1.01forthequarterand3.95 for the year[20] Product Category Performance - Equipment revenue under Nike Brand increased by 20% to 2.08billionforthetwelvemonthsendedMay31,2024,from1.73 billion in 2023[15]
NIKE(NKE)2024-06-27 20:16