25 June 2022, Mumbai:
NIKE, Inc. Reports Fiscal 2022 Fourth Quarter and Full Year Results.
NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2022 fourth quarter and full-year ended May 31, 2022.
Fourth-quarter reported revenues were $12.2 billion, down 1 percent compared to the prior year and up 3 percent on a currency-neutral basis*
NIKE Direct reported revenues for the fourth quarter were $4.8 billion, up 7 percent compared to the prior year and up 11 percent on a currency-neutral basis
Wholesale reported revenues for the fourth quarter were $6.8 billion, down 7 percent compared to the prior year and down 3 percent on a currency-neutral basis
The gross margin for the fourth quarter decreased 80 basis points to 45 percent.
Diluted earnings per share were $0.90 for the fourth quarter
The Company announced its Board of Directors has authorized a new four-year, $18 billion program to repurchase shares of NIKE's Class B Common Stock
“NIKE’s results this fiscal year are a testament to the unmatched strength of our brands and our deep connection with consumers," said John Donahoe, President, and CEO, NIKE, Inc. “Our competitive advantages, including our pipeline of innovative products and expanding digital leadership, prove that our strategy is working as we create value through our relentless drive to serve the future of the sport."**
Fourth-quarter NIKE Direct revenues grew 7 percent on a reported basis and 11 percent on a currency-neutral basis, led by 25 percent growth in EMEA, 43 percent growth in APLA, and 5 percent growth in North America, partially offset by a decline in Greater China.
NIKE Brand Digital grew 15 percent on a reported basis and 18 percent on a currency-neutral basis, driven by double-digit growth in APLA, North America, and EMEA. NIKE-owned stores declined 2 percent on a reported basis and increased 1 percent on a currency-neutral basis.
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