NIKE’s full year revenue touches $39.1-bn

NIKE, Inc. has reported financial results for fourth quarter of its fiscal 2019 and full year ended May 31, 2019. Its fourth quarter revenue increased to $10.2 billion, up 4% on a reported basis and up 10% on a currency-neutral basis.

The brand’s full year revenue rose to $39.1 billion, up 7% on a reported basis and 11% on a currency-neutral basis, as strategic investments in innovation and digital drove global consumer demand led by NIKE Direct in both periods.

Commenting on the results, Mark Parker, chairman, president and CEO of NIKE, Inc, said, “FY19 was a pivotal year for NIKE as we continue to bring our Consumer Direct Offense to life throughout the marketplace. Our distinctive innovation and digital advantage led to accelerated growth across our complete portfolio, while our brand fuelled deeper relationships with consumers around the globe.

“Reflecting on our FY19 performance, it is clear that growth is paramount at NIKE, and that our strong growth is being driven by strategic transformation,” added Andy Campion, executive vice president and CFO, NIKE, Inc. “Amid foreign exchange volatility, our double-digit currency-neutral revenue growth and expanding ROIC showcase NIKE’s unrivalled ability to create extraordinary value for consumers and shareholders over the long term.”

To read more: https://news.nike.com/news/nike-inc-reports-fiscal-2019-fourth-quarter-and-full-year-results