Nike Improve Forecasts

Reported fiscal 2015 financial results for its fourth quarter and full year ended May 31, 2015.

The Luxonomist. 27/06/2015
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NIKE fiscal 2015 financial results for its fourth quarter and full year. (Photo: nike.com)

NIKE reported fiscal 2015 financial results for its fourth quarter and full year ended May 31, 2015. Diluted earnings per share for the quarter increased 26 percent as broad-based revenue growth, gross margin expansion and a lower tax rate more than offset increased SG&A investments.

Fiscal 2015 diluted earnings per share rose 25 percent to $3.70, reflecting 10 percent revenue growth, gross margin expansion, a lower tax rate and a lower average share count, which more than offset the impacts of higher SG&A investments.

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Laura Robson is outfitted in the Nike Pure Tennis Tank, which uses Dri-FIT fabric to help keep her dry and comfortable. The complementing Nike Flouncy Skirt has built-in shorts and a contoured waistband for a sleek fit. (Photo: nike.com)

“Fiscal 2015 was an outstanding year for NIKE,” said Mark Parker, President and CEO, NIKE, Inc. “Our consistent growth is fueled by our connection to the consumer and our ability to deliver innovation at an unprecedented pace and scale. At no time in our history has the growth potential been greater for NIKE.”

In the Fourth Quarter , revenues for NIKE rose 5 percent to$7.8 billion, up 13 percent on a currency-neutral basis. Gross margin expanded 60 basis points to 46.2 percent. The increase was primarily attributable to higher average selling prices and continued growth in the higher margin Direct to Consumer (DTC) business, partially offset by higher product input and logistics costs.

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Kevin Durant with the KD8, the most technical shoe of his career. (Photo: nike.com)

Net income increased 24 percent to $865 million while diluted earnings per share increased 26 percent to $0.98, reflecting strong revenue growth and gross margin expansion, a lower tax rate and a decrease in the weighted average diluted common shares outstanding.

In fiscal 2015,  the revenues for NIKE, rose 10 percent to$30.6 billion, up 14 percent on a currency-neutral basis. NIKE Brand sales to wholesale customers increased 10 percent on a currency-neutral basis while DTC revenues grew to $6.6 billion, up 29 percent excluding the impact of changes in foreign currency, driven by 16 percent growth in comparable store sales, a 59 percent increase in online sales and the addition of new stores. As of May 31, 2015, the NIKE Brand had 832 DTC stores in operation as compared to 768 a year ago.

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The sabertooth tiger tattoo on KD’s right leg inspired the KD8 heel counter design. (Photo: nike.com)

Net income increased 22 percent to $3.3 billion reflecting strong revenue growth, gross margin expansion and a lower tax rate. Diluted earnings per share increased 25 percent to $3.70, reflecting the growth in net income and the additional benefit of a decline in the weighted average diluted common shares outstanding.

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Roger Federer will wear a classic Nike Premier RF Henley shirt with no collar and a no-sew placket designed for a clean look and zero distraction. (Photo: nike.com)

As of the end of the quarter, worldwide futures orders for NIKE Brand athletic footwear and apparel scheduled for delivery from June through November 2015 totaled $13.5 billion, 2 percent higher than orders reported for the same period last year, and 13 percent higher on a currency neutral basis.

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