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Nike's sales in the first quarter rose, and the North American market continued its growth momentum

2018-10-31

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 Nike CEO Mark Parker said that Nike's "Consumer Direct Offense (CDO)" strategy combined with its deep-seated innovation technology is driving the strong growth and balanced growth of the entire enterprise. </div>

In the first quarter, earnings rose 15% to $1.1 billion.
The Group's total revenue grew 10% to $9.9 billion.
̇ North America continued to grow as a growth driver, with sales in the region achieving 6% growth.
Due to the success of strategies such as consumer direct experience (CDO) and digital capabilities, Nike Inc's stock fell by 2.58% before the stock market opened, but US sports giants announced that their first quarter earnings and revenues were both The growth of the number of digits.
Net income for the three months ending August (2018) increased 15% to $1.1 billion from $9.5 billion in the same period in 2017 (2017), benefiting mainly from strong global revenue growth, gross margin expansion, and sales and administration.Expenditure leverage results. At the same time, gross margins rose by 50 basis points to 44.2% due to higher average selling prices, favorable full-price sales mix and Nike Direct's profit margin expansion, partially offset by rising product costs.
The Group's overall revenue continued to be driven by the success of the Consumer Direct Experience (CDO) strategy, growing 10% to a total of $9.9 billion, growing 9% on a currency neutral basis, promoting all regions and wholesale operations and leading Nike by digital The growth of Direct.
Sales of the Nike brand also grew by 10% to $9.4 billion, driven mainly by the strong development of the international market and Nike Direct in the North American market, and the growth of almost all sportswear categories, resulting in double-digit performance. growing up.
At the same time, driven by growth in Europe and Asia, Converse's sales reached $527 million, a 7% increase on a currency-neutral basis.
The group's North American operations grew 6% to $4.15 billion, while sales in Europe, the Middle East and Africa grew 9% to $2.61 billion. At the same time, sales in Greater China grew by 20% to $1.38 billion, while sales in Asia Pacific and Latin America grew 14% to $1.27 billion.
CEO Mark Parker said: "Nike's Consumer Direct Experience (CDO) strategy, combined with deep-seated innovation and technology, is driving the strong growth and balanced growth of our overall business. The digitalization capabilities we are expanding are accelerating. Our complete product portfolio creates value across all levels and connects with consumers and provides a full range of services."
Chief Financial Officer Andy Campion added: "We are committed to achieving stronger performance than our expectations in achieving our global results and earnings. We have seen an increase in foreign exchange volatility, but as we change the way Nike operates, we are pushing As the group grows and creates value for our shareholders, the basic development momentum of our currency neutrality continues to build."
Co analyst Susan Anderson pointed out: "We like Nike's innovation pipeline, international access, long-term profit catalysis, and we see continuous growth in the North American market - but we are still waiting to see the valuation."

Source: Textile Federation

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