NIKE, Inc. (NYSE:NKE) Q3 2023 Earnings Conference Call March 21, 2023 5:00 PM ET Company Participants Paul Trussell - VP, IR and Strategic Finance John Donahoe - President and CEO Matthew Friend - CFO Conference Call Participants Matthew Boss - JPMorgan Omar Saad - Evercore ISI Paul Lejuez - Citigroup Alexandra Straton - Morgan Stanley Robert Drbul - Guggenheim Securities Aneesha Sherman - Sanford C. Bernstein Kate Fitzsimons - Wells Fargo Gabriella Carbone - Deutsche Bank Operator Good afternoon, eve ...

Financial Performance - For Q2 fiscal 2023, NIKE, Inc. revenues increased 17% to $13.3 billion compared to Q2 fiscal 2022, with a 27% increase on a currency-neutral basis [84]. - Net income for Q2 fiscal 2023 was $1,331 million, with diluted earnings per share at $0.85, compared to $1,337 million and $0.83 in Q2 fiscal 2022 [84]. - Total NIKE, Inc. revenues for the first six months of FY2023 were $26,002 million, an 18% increase compared to the same period in FY2022 [87]. - Earnings before interest and taxes (EBIT) for the total NIKE Brand in Q2 fiscal 2023 were $2.257 billion, a 17% increase from $1.927 billion in Q2 fiscal 2022 [98]. - Corporate revenues for the second quarter of fiscal 2023 showed a loss before interest and taxes of $744 million, an increase of 48% compared to a loss of $503 million in the same quarter of fiscal 2022 [113]. - For the first six months of fiscal 2023, the loss before interest and taxes increased to $1,318 million, a 26% increase from a loss of $1,048 million in the first six months of fiscal 2022 [113]. Revenue Breakdown - NIKE Brand revenues, which account for over 90% of total revenues, rose 18% in Q2 fiscal 2023, with a 28% increase on a currency-neutral basis, driven by growth in North America and EMEA [84]. - NIKE Brand footwear revenues rose 36% in Q2 FY2023, with unit sales increasing by 28% and higher average selling price contributing 8 percentage points to growth [88]. - NIKE Brand apparel revenues increased 14% in Q2 FY2023, with unit sales up 10% and higher average selling price contributing 4 percentage points to growth [88]. - NIKE Brand wholesale revenues increased 19% in Q2 FY2023 compared to the same quarter in FY2022, driven by increased product availability [88]. - The Greater China segment experienced a 3% decline in revenues for Q2 fiscal 2023, totaling $1.788 billion [96]. - The Asia Pacific & Latin America segment saw a 19% increase in revenues, reaching $1.599 billion in Q2 fiscal 2023 [96]. - APLA revenues increased 34% for Q2 fiscal 2023 on a currency-neutral basis, driven by growth in Japan (42%), Korea (37%), and Southeast Asia & India (61%) [106]. Digital and Direct Sales - NIKE Brand digital sales reached $3.4 billion in Q2 FY2023, up from $2.7 billion in Q2 FY2022, reflecting a 34% growth on a currency-neutral basis [88]. - NIKE Direct revenues increased 18%, driven by strong digital sales growth of 25% and comparable store sales growth of 6% [100]. - NIKE Direct revenues in North America rose 23%, supported by a 31% growth in digital sales and a 9% increase in comparable store sales [99]. - NIKE Direct revenues for the first six months of fiscal 2023 increased 30%, driven by digital sales growth of 32% and comparable store sales growth of 28% [107]. Cost and Margin Analysis - Gross margin for Q2 fiscal 2023 decreased by 300 basis points to 42.9%, impacted by high promotional activity and increased costs [84]. - Gross margin for Q2 FY2023 was 42.9%, a decrease of 300 basis points compared to the prior year, primarily due to higher promotional activity and unfavorable currency exchange rates [89]. - Reported EBIT increased 21% primarily due to higher revenues, despite a gross margin contraction of approximately 320 basis points [100]. - Reported EBIT for Q2 fiscal 2023 increased 25% due to higher revenues and lower selling and administrative expenses, despite a gross margin contraction of approximately 190 basis points [106]. Inventory and Supply Chain - Inventory levels decreased by 3% in Q2 fiscal 2023 compared to Q1 fiscal 2023, reflecting strong demand and increased promotional activity [83]. - Ongoing supply chain challenges and macroeconomic conditions continue to create volatility in business results, with potential impacts on consumer demand and inventory levels [84]. Tax and Other Expenses - The effective tax rate for Q2 fiscal 2023 was 19.3%, up from 10.9% in Q2 fiscal 2022, due to decreased benefits from stock-based compensation [84]. - Total selling and administrative expenses for Q2 FY2023 were $4,124 million, a 10% increase from $3,759 million in Q2 FY2022 [90]. - Demand creation expense increased 8% in Q2 FY2023, primarily due to higher advertising and marketing expenses [90]. - Other (income) expense, net for Q2 FY2023 was $(79) million, compared to $(102) million in Q2 FY2022, reflecting improved foreign currency conversion results [92]. Share Repurchase and Cash Flow - Share repurchases totaled $2.6 billion for the first six months of fiscal 2023, with an average price of $101.96 per share, compared to $1.7 billion in the same period of fiscal 2022 [121]. - The company expects funding for share repurchases to come from operating cash flows and excess cash, with timing dictated by capital needs and market conditions [121]. - Cash provided by operations was $1,358 million for the first six months of fiscal 2023, a significant decrease from $3,868 million in the same period of fiscal 2022 [119]. - The net change in working capital resulted in a decrease of $2,009 million in cash provided by operations for the first six months of fiscal 2023, driven by higher accounts receivable of $1,421 million and inventories of $1,216 million [119].

NIKE, Inc. (NYSE:NKE) Q2 2023 Earnings Conference Call December 20, 2022 5:00 PM ET Company Participants Paul Trussell - VP, IR and Strategic Finance John Donahoe - President and CEO Matthew Friend - CFO Conference Call Participants Jim Duffy - Stifel, Nicolaus & Company Bob Drbul - Guggenheim Securities Matthew Boss - JPMorgan Brooke Roach - Goldman Sachs Tom Nikic - Wedbush Securities Adrienne Yih - Barclays Abbie Zvejnieks - Piper Sandler John Kernan - Cowen and Company Michael Binetti - Credit Suisse ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Indicate by check mark: YES NO • whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. þ ☐ • whether the registrant has submitted electronically every Interactive Data File ...

NIKE, Inc. (NYSE:NKE) Q1 2023 Earnings Conference Call September 29, 2022 5:00 PM ET Company Participants Paul Trussell - VP, IR and Strategic Finance John Donahoe - President and CEO Matthew Friend - CFO Conference Call Participants Robert Drbul - Guggenheim Matthew Boss - JPMorgan Paul Lejuez - Citi Alex Straton - Morgan Stanley Brian Nagel - Oppenheimer Michael Binetti - Credit Suisse Operator Good afternoon, everyone. Welcome to NIKE, Inc.'s Fiscal 2023 First Quarter Conference Call. For those who want ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED MAY 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission File No. 1-10635 NIKE, Inc. (Exact name of Registrant as specified in its charter) Oregon 93-0584541 (State or other jurisdiction of i ...

NIKE, Inc. (NYSE:NKE) Q4 2022 Earnings Conference Call June 27, 2022 5:00 PM ET Company Participants Paul Trussell - VP, IR and Strategic Finance John Donahoe - President and CEO Matthew Friend - CFO Conference Call Participants Robert Drbul - Guggenheim Securities Michael Binetti - Credit Suisse Aneesha Sherman - Bernstein Gabriella Carbone - Deutsche Bank Lorraine Hutchinson - Bank of America Operator Good afternoon, everyone. Welcome to NIKE, Inc.'s Fiscal '22 Fourth Quarter Conference Call. For those wh ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 As of March 28, 2022, the number of shares of the Registrant's Common Stock outstanding were: Class A 305,007,252 Class B 1,268,760,217 1,573,767,469 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED FEBRUARY 28, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . ...

NIKE, Inc. (NYSE:NKE) Q3 2022 Earnings Conference Call March 21, 2022 5:00 PM ET Company Participants Paul Trussell - VP, IR and Strategic Finance John Donahoe - President and CEO Matt Friend - CFO Conference Call Participants John Kernan - Cowen and Company Katharine McShane - Goldman Sachs Jay Sole - UBS Jonathan Komp - Robert W. Baird Matthew Boss - JPMorgan Adrienne Yih - Barclays Operator Good afternoon, everyone. Welcome to NIKE, Inc.'s Fiscal 2022 Third Quarter Fiscal Conference Call. For those w ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 As of December 27, 2021, the number of shares of the Registrant's Common Stock outstanding were: Class A 305,007,252 Class B 1,276,288,021 1,581,295,273 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED NOVEMBER 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO ...