(Photo Illustration by Rafael Henrique/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesSure, reward points and perks are a nice cost of entry. But based on consumer feedback, loyalty programs in 2024 might want to consider offering painkillers.With nearly 17 loyalty program memberships per American and smart devices that make wait times a torment only for Luddites, the 2024 consumer has a remarkably low tolerance for reward pain. And it’s eroding the competitive power that l ...

Revenue Performance - NIKE, Inc. revenues for Q3 fiscal 2024 were $12.43 billion, flat compared to $12.39 billion in Q3 fiscal 2023 on a currency-neutral basis[78][84] - NIKE, Inc. revenues for the first nine months of fiscal 2024 were $38.8 billion, a 1% increase compared to the same period in fiscal 2023, driven by growth in Greater China and APLA, each contributing approximately 1 percentage point, while Converse revenues reduced overall revenues by approximately 1 percentage point[85] - Total NIKE, Inc. revenues for the three months ended February 29, 2024, were $12.429 billion, a 0% change compared to $12.390 billion in the same period last year[97][100] - Total revenues increased by 3% to $1,647 million in February 2024 compared to $1,601 million in February 2023, with a 6% increase over the nine-month period to $5,024 million[114] NIKE Direct Revenues - NIKE Direct revenues reached $5.4 billion in Q3 fiscal 2024, representing 45% of total NIKE Brand revenues[78] - NIKE Direct revenues increased 4% to $16.5 billion for the first nine months of fiscal 2024, driven by a 6% growth in comparable store sales and new store additions[87] - NIKE Direct revenues in North America increased 2% to $2.630 billion, driven by 1% comparable store sales growth and 1% digital sales growth[103][104] - NIKE Direct revenues increased by 3% to $708 million in February 2024 compared to $688 million in February 2023, with an 8% increase over the nine-month period to $2,097 million[114] Gross Margin and Profitability - Gross margin increased by 150 basis points to 44.8% in Q3 fiscal 2024, driven by strategic pricing actions and lower logistics costs[78] - Gross margin for the first nine months of fiscal 2024 increased by 100 basis points to 44.5%, primarily due to higher NIKE Brand full-price ASP and lower other costs[88] - Reported EBIT increased 18% with gross margin expansion of 290 basis points due to higher full-price ASP and lower product costs, partially offset by higher product input costs[105] - Gross margin contracted by approximately 190 basis points in the third quarter of fiscal 2024, primarily due to unfavorable foreign currency exchange rates and lower NIKE Direct margin[116] Inventory and Cost Management - Inventories decreased by 9% to $7.7 billion as of February 29, 2024, compared to May 31, 2023[78] - Selling and administrative expenses increased by 2% in the third quarter of fiscal 2024, driven by higher demand creation and operating overhead expenses[116] - Operating overhead expense increased 3% to $9.294 billion for the first nine months of fiscal 2024, primarily due to restructuring charges, partially offset by lower technology spend and wage-related expenses[89][90] Regional Performance - North America revenues increased 3% on a currency-neutral basis to $5.070 billion, driven by growth in Kids', Men's, Women's, and Jordan Brand categories[100][104] - Greater China revenues decreased 3% on a currency-neutral basis to $2.084 billion, while Asia Pacific & Latin America revenues increased 3% to $1.647 billion[100] - Greater China revenues increased 6% on a currency-neutral basis, with Wholesale revenues up 12% and NIKE Direct revenues down 1% due to a 13% decline in digital sales[110] - APLA revenues increased by 4% on a currency-neutral basis in the third quarter of fiscal 2024, driven by growth in CASA, Mexico, Japan, and Southeast Asia & India[116] Product Category Performance - NIKE Brand footwear revenues grew 3% on a currency-neutral basis, with unit sales increasing 2% and higher ASP contributing 1 percentage point[84] - NIKE Brand apparel revenues declined 3% on a currency-neutral basis, with unit sales down 8% but higher ASP contributing 5 percentage points[84] - NIKE Brand footwear revenues increased 2% on a currency-neutral basis, with higher ASP per pair contributing approximately 4 percentage points of growth, despite a 2% decline in unit sales[85] - NIKE Brand apparel revenues decreased 2% on a currency-neutral basis, with unit sales down 12%, but higher ASP per unit contributed approximately 10 percentage points of revenue growth[85] - Footwear revenues in North America increased 4% on a currency-neutral basis to $3.460 billion, with unit sales up 7% but ASP per pair down 3%[103][104] - Apparel revenues in North America decreased 1% on a currency-neutral basis to $1.408 billion, with unit sales down 5% but ASP per unit up 4%[103][104] - Footwear revenues in Greater China increased 5% on a currency-neutral basis, with unit sales up 9% but lower ASP per pair reducing revenues by 4 percentage points[110] - Apparel revenues in Greater China increased 10% on a currency-neutral basis, with unit sales up 10% and ASP per unit flat[110] - Footwear revenues decreased by 1% on a currency-neutral basis, with unit sales down 8% but higher ASP per pair contributing 7 percentage points of revenue growth[105] - Apparel revenues decreased by 1% on a currency-neutral basis, with unit sales down 10% but higher ASP per unit contributing 9 percentage points of revenue growth[105] - Footwear revenues increased by 5% to $1,195 million in February 2024 compared to $1,141 million in February 2023, with a 10% increase over the nine-month period to $3,639 million[114] - Apparel revenues decreased by 4% to $390 million in February 2024 compared to $407 million in February 2023, with a 5% decrease over the nine-month period to $1,198 million[114] Converse Performance - Converse revenues decreased 19% to $495 million, with a 40% decline in EBIT to $98 million[100][102] - Converse revenues decreased by 20% on a currency-neutral basis in the third quarter of fiscal 2024, driven by declines in North America, Western Europe, and Asia[120] - Total revenues decreased by 19% to $495 million, with footwear revenues down 21% to $426 million and apparel revenues down 14% to $25 million[121] Shareholder Returns and Share Repurchases - The company returned $1.4 billion to shareholders in Q3 fiscal 2024 through share repurchases and dividends[78] - Repurchased 30.3 million shares of NIKE's Class B Common Stock for $3,206 million (average price of $105.70 per share) in the first nine months of fiscal 2024 under the $18 billion share repurchase plan[134] - As of February 29, 2024, repurchased 73.8 million shares at a cost of approximately $8.0 billion (average price of $108.46 per share) under the $18 billion share repurchase program[134] Financial Expenses and Taxes - Pre-tax charges of $450 million are expected for workforce reduction, with $403 million incurred in Q3 fiscal 2024[80] - Demand creation expense increased 8% to $3.194 billion for the first nine months of fiscal 2024, reflecting higher advertising, sports marketing, and digital marketing expenses[89][90] - Other (income) expense, net decreased to $101 million for the first nine months of fiscal 2024, compared to $283 million in the prior year, primarily due to unfavorable foreign currency conversion gains and losses[91] - The effective tax rate for the first nine months of fiscal 2024 was 15.6%, down from 18.5% in the prior year, primarily due to one-time benefits related to U.S. foreign tax credit regulations[93][94] - Corporate loss before interest and taxes increased by 26% to $874 million, driven by restructuring charges and unfavorable foreign currency impacts[123] Cash Flow and Financing - Cash provided by operations increased to $4,810 million for the first nine months of fiscal 2024, up from $3,588 million in the prior year, driven by favorable changes in working capital[132] - Cash used in financing activities decreased to $4,468 million for the first nine months of fiscal 2024, compared to $5,266 million in the prior year, due to lower share repurchases[132] - Entered into a 364-day committed credit facility agreement on March 8, 2024, providing up to $1 billion of borrowings, with an option to increase to $1.5 billion[135] - Cash and equivalents and Short-term investments totaled $10.6 billion as of February 29, 2024, with a weighted average days to maturity of 69 days[135] Foreign Currency and Hedging - Foreign currency fluctuations had a negative impact of $16 million on revenues and a positive impact of $20 million on income before taxes for the three months ended February 29, 2024[130] - The company's foreign exchange risk management program aims to mitigate the impact of currency fluctuations on consolidated results, with no material changes to the hedging strategy[127] - Transactional foreign currency exposures include product costs, non-functional currency denominated sales, and other costs, which are managed through currency forward and option contracts[128][129] - Translational exposures are managed by using U.S. Dollar denominated investments and hedging instruments to partially offset the impact of foreign currency translation on net earnings[131] - The company's hedging policy is designed to partially or entirely offset the impact of exchange rate changes on underlying net exposures, with no speculative use of derivative instruments[127] Corporate and Legal Matters - Obligations under endorsement contracts as of February 29, 2024, were $9.9 billion, with $1.6 billion payable within 12 months[136] - No off-balance sheet arrangements as of February 29, 2024, that have a material effect on financial condition[137] - No material changes in market risk disclosures from the Annual Report on Form 10-K for the fiscal year ended May 31, 2023[141]

Wirestock Nike, Inc. (NYSE:NKE) remains a strong brand in the athletic footwear and apparel industry. The stock has recently seen headwinds due to higher operating costs impacting bottom-line profit and reduced guidance from impacted sales. These challenges do not look like they will subside until the end of 2024 or into 2025. Nike continues to look at innovative ways to combat these market pressures and continue to deliver the sustainable growth that the company was accustomed to for its lifetime. Nike ...

The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics — strong fundamentals and a valuation that looks inexpensive. Nike presently has an excellent rank, in the top 25% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors.Start slideshow: 10 Oversold Dividend Stocks »But maki ...

The first thing Nike (NKE -0.16%) tells you on its investor relations page is that it's a growth company. Its recent results, however, say the opposite. Revenue at Nike was flat in its fiscal third quarter at $12.4 billion, and was up just 1% in the first three quarters of the year. Nike is facing a number of challenges that have led to its growth stalling. It's losing market share, especially in running, to upstart competitors like On Holding and Deckers' Hoka brand. It also said it was pulling back its su ...

Nike Inc (NYSE: NKE) is not worth owning even though its shares have lost well over 10% since the start of this year, says an RBC Capital analyst.Nike stock downgraded to sector perform Copy link to section Piral Dadhania downgraded the sportswear giant this week to “sector perform” and trimmed his price objective to $100 that suggests a 6.0% upside only.   The analyst turned dovish on Nike stock after the management said sales in China continued to lose pace in the holiday quarter.More importantly, the New ...

NIKE Inc. (NKE) reported third-quarter fiscal 2024 results, wherein the top and bottom lines beat the Zacks Consensus Estimate. Moreover, sales improved year over year. Results particularly gained from robust retail sales across Nike Direct. NKE also continued to benefit from its business strategy, compelling product innovation and digital leadership.In third-quarter fiscal 2024, the company’s earnings per share (EPS) were 98 cents, down 3% from the year-ago quarter. However, the figure beat the Zacks Conse ...

Nike (NKE -6.13%) recently announced its fiscal 2024 third-quarter earnings results (for the quarter ending Feb. 29), and the updated Wall Street opinions are starting to roll in. Several analysts covering the stock simply reiterated their forecasts after the footwear giant revealed weak sales trends. But Nike also attracted a significant downgrade from one analyst.Let's look at why the analyst sees almost no upside potential for the stock over the next year.If the shoe fitsAn analyst at RBC Capital lowered ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Nike Inc (NYSE:NKE) stock is down 7.4% to trade at $93.40, the worst Dow stock today by far, in the wake of the blue-chip apparel retailer's fiscal third-quarter quarterly report. Though Nike reported better-than-expected earnings and revenue thanks to sales and prices changes in North America, its shares are being dragged down by slowing growth in China.  No less than 12 analysts cut their price targets; RBC slashed its objective to $100 from $110 and also cut its rating to "sector perform" from "outperfor ...