In its fiscal 2024 first quarter conference call, Nike , Inc. (NYSE: NKE ) reported significant growth, a healthy inventory, and a strong focus on digital transformation. CEO John Donahoe and CFO Matt Friend highlighted the company’s growth from $39 billion in fiscal ’19 to over $50 billion, outpacing the industry. The company expects healthy profitable growth for the full year, with reported revenue expected to grow mid-single digits and gross margins to expand 140 to 160 basis points. Key takeaways from the call: Nike’s revenue grew 2% on a reported and currency-neutral basis in Q1. Retail sales across Nike Direct and Wholesale grew mid-single digits compared to the previous year. Nike’s inventory is healthy, with inventory dollars down 10% and total inventory units down double digits. Nike Direct led the growth, with sales up 6%. Nike Digital grew 2%. In North America, revenue declined 1%, with wholesale down 8% and Nike Direct up 7%. In EMEA, revenue grew 6%, and in Greater China, revenue grew 12%. Nike expects healthy profitable growth for the full year, with reported revenue expected to grow mid-single digits and gross margins to expand 140 to 160 basis points. The company reported growth in […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
