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NIKE posts record North America earnings, surpassing expectations, revenue up 141%

Friday, Jun 25, 2021

NIKE, Inc. (NYSE:NKE) reported financial results for its fiscal 2021 fourth quarter and full year ended May 31, 2021.

“NIKE’s strong results this quarter and full fiscal year demonstrate NIKE’s unique competitive advantage and deep connection with consumers all over the world,” said John Donahoe, President & CEO, NIKE, Inc. “FY21 was a pivotal year for NIKE as we brought our Consumer Direct Acceleration strategy to life across the marketplace. Fueled by our momentum, we continue to invest in innovation and our digital leadership to set the foundation for NIKE’s long-term growth.”

Q4 Highlights

  • Fourth quarter reported revenues were $12.3 billion, up 96 percent compared to prior year and increasing 21 percent compared to the fourth quarter of 2019.
  • Full year reported revenues increased 19 percent to $44.5 billion.
  • NIKE Direct fourth quarter sales increased 73 percent to $4.5 billion.
  • Gross margin for the fourth quarter increased 850 basis points to 45.8 percent.
  • Diluted earnings per share for the fourth quarter was $0.93 and for the full year was $3.56.

North America delivered record revenues, up 141 percent on a reported basis for the fourth quarter, up 29 percent compared to the fourth quarter of 2019, including increased wholesale revenue due to delayed shipments from the previous quarter.

Source: NIKE, Inc. IR 2021-06
Photo Credit: NIKE, Inc. Store Finder

 

About NIKE, Inc.

NIKE, Inc., based near Beaverton, Oregon, is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http://investors.nike.com. Individuals can also visit http://news.nike.com and follow @NIKE.

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