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NIKE(NKE) - 2025 Q1 - Quarterly Results
NKENIKE(NKE)2024-10-01 20:15

Revenue Performance - Q1 revenues were 11.6billion,down1011.6 billion, down 10% on a reported basis and down 9% on a currency-neutral basis[2][4] - NIKE Direct revenues were 4.7 billion, down 13% on a reported basis and down 12% on a currency-neutral basis[2][4] - Wholesale revenues were 6.4billion,down86.4 billion, down 8% on a reported basis and down 7% on a currency-neutral basis[2][4] - North America footwear revenue decreased by 14% to 3,212 million from 3,733 million[13] - Europe, Middle East & Africa total revenue declined by 13% to 3,143 million from 3,610million[13]−GreaterChinatotalrevenuedroppedby43,610 million[13] - Greater China total revenue dropped by 4% to 1,666 million from 1,735 million[13] - Asia Pacific & Latin America total revenue fell by 7% to 1,462 million from 1,572million[13]−TotalNIKEBrandrevenuedecreasedby101,572 million[13] - Total NIKE Brand revenue decreased by 10% to 11,111 million from 12,353million[13]−Converserevenuedeclinedby1512,353 million[13] - Converse revenue declined by 15% to 501 million from 588million[13]ProfitabilityandMargins−Grossmarginincreased120basispointsto45.4588 million[13] Profitability and Margins - Gross margin increased 120 basis points to 45.4%[2][4] - Diluted earnings per share was 0.70, down 26%[2][4] - Net income was 1.1billion,down281.1 billion, down 28%[4] - Total NIKE, Inc. EBIT decreased by 22% to 1,264 million from 1,614million[14]−EBITmargindroppedto10.91,614 million[14] - EBIT margin dropped to 10.9% from 12.5%[14] - North America EBIT decreased by 15% to 1,216 million from 1,434million[14]−GreaterChinaEBITdeclinedby41,434 million[14] - Greater China EBIT declined by 4% to 502 million from 525million[14]FinancialPosition−Inventorieswere525 million[14] Financial Position - Inventories were 8.3 billion, down 5% compared to the prior year[5] - Cash and equivalents and short-term investments were 10.3billion,upapproximately10.3 billion, up approximately 1.5 billion from last year[5] - The Company returned approximately 1.8billiontoshareholders,including1.8 billion to shareholders, including 558 million in dividends and $1.2 billion in share repurchases[6] Tax Rate - The effective tax rate was 19.6% compared to 12.0% for the same period last year[4]