NIKE, Inc. reports company developments tied to its global athletic footwear, apparel, equipment and accessories business. Recurring updates include quarterly financial results, NIKE Brand performance, NIKE Direct and wholesale channel trends, inventory commentary, currency-neutral revenue measures, and geographic activity across markets such as North America, EMEA and Greater China.
News also covers cash dividends on the company's Class A and Class B common stock, brand and retail campaigns involving Nike, Jordan Brand and Converse, and organizational changes affecting senior leadership and geographic management. Converse is a wholly owned NIKE subsidiary brand focused on athletic lifestyle footwear, apparel and accessories.
NIKE (NYSE:NKE) reported its fiscal 2024 fourth quarter and full-year results. Full-year revenues were $51.4 billion, a slight increase from the prior year's $51.2 billion. However, fourth-quarter revenues declined by 2% to $12.6 billion. NIKE Direct revenues dropped by 8% in Q4, while wholesale revenues increased by 5%. The gross margin for the fourth quarter rose by 110 basis points to 44.7%, primarily due to strategic pricing and reduced logistics costs. Selling and administrative expenses decreased by 7%, while net income surged by 45% to $1.5 billion, resulting in a diluted EPS of $0.99. For the full year, net income rose by 12% to $5.7 billion, with a diluted EPS of $3.73. NIKE returned $6.4 billion to shareholders through dividends and share repurchases in fiscal 2024.
NIKE (NYSE: NKE) will release its financial results for the fourth quarter of fiscal 2024 on June 27, 2024, at 1:15 p.m. PT. A conference call to review these results will follow at 2:00 p.m. PT, and it will be broadcast live on their investor website. An archived version of the call will be accessible until July 18, 2024.
The company is a global leader in designing, marketing, and distributing athletic footwear, apparel, and accessories. Additionally, its subsidiary, Converse, specializes in athletic lifestyle products.
For further details, visit NIKE's investor relations website or follow NIKE on social media platforms like LinkedIn, Instagram, and YouTube.
DICK'S Sporting Goods and Nike have announced their fourth annual It's Her Shot tour, stopping in six cities across the US, featuring WNBA players and basketball figures. The events aim to empower young female athletes and promote sports participation. The tour includes practice drills, skills clinics, and product giveaways.
NIKE, Inc. (NYSE: NKE) declares a quarterly cash dividend of $0.370 per share on its outstanding Class A and Class B Common Stock. The dividend is payable on July 1, 2024, to shareholders of record as of June 3, 2024.
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