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Nike, Inc. Message Board

  • futureripplemovers futureripplemovers Dec 19, 2013 5:11 PM Flag

    NIKE, Inc. Reports Fiscal 2014 Second Quarter Results

    NIKE, Inc. Reports Fiscal 2014 Second Quarter Results

    •Revenues from continuing operations up 8 percent to $6.4 billion
    •Diluted earnings per share from continuing operations up 4 percent to $0.59
    •Worldwide futures orders up 12 percent, 13 percent growth excluding currency changes
    •Inventories as of November 30, 2013 up 11 percent 

    BEAVERTON, Ore., December 19, 2013 – NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2014 second quarter ended November 30, 2013. Earnings per share for the quarter were up 4 percent due to higher revenues as a result of strong demand for NIKE, Inc. brands, gross margin expansion, and a lower tax rate partially offset by the impact of higher SG&A investments in NIKE, Inc. brands and business capabilities. 

    "Our strong second quarter results show why NIKE leads the industry,” said Mark Parker, President and CEO of NIKE, Inc. “Our powerful portfolio fuels growth across our categories and geographies. Because we never stop innovating, we enhance our ability to serve the athlete, inspire consumers and elevate the marketplace. We will continue to seize the best opportunities to drive sustainable, profitable growth for our shareholders.”* 

    Second Quarter Continuing Operations Income Statement Review
    •Revenues for NIKE, Inc. increased 8 percent to $6.4 billion, up 9 percent on a currency neutral basis. ◦Revenues for the NIKE Brand were $6.1 billion, up 9 percent on a currency neutral basis, with growth in every product type, geography and key category.
    ◦Revenues for Converse were $360 million, up 11 percent on a currency neutral basis, driven by strong performance in our largest owned markets: North America, the United Kingdom, and China.

    •Gross margin increased 140 basis points to 43.9 percent. Gross margin benefitted from a shift in the mix of the Company’s revenues to higher margin products and businesses, higher average prices, easing raw materials product input costs and continued strength in the hi

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