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nike q1 earnings 2021

And I’d also love your — an updated kind of view on outlook on the return of team in organized sports, the NBA playoffs, NFL is back, do you think this is going to continue to build over time even at the youth and collegiate level as well? Nike stock rose late. As we look ahead to Q2, Bob, our margin will continue to be a function of supply and demand management because our top priority is to normalize inventory by the end of the second quarter. We know the digital is a new normal. References to constant dollar revenue are intended to provide context as to the performance of the business eliminating foreign exchange fluctuations. Performance footwear resonated with consumers in APLA this quarter, as we saw strong results from the Alphafly NEXT% and the Pegasus 37. To the extent, non-public financial and statistical information is discussed, presentations of comparable GAAP measures and quantitative reconciliations will be made available at NIKE’s website, http://investors.nike.com. NIKE is staying on the offense and looking to extend our leadership position. Revenue of $10.59 billion beat the $9.11 billion estimate. Our size, our incredible product, our brand strength and infinity, the direct consumer relationships we deepen each day and our ability to create seamless and differentiated shopping experiences, that is how we drive continued separation. As I mentioned in the last call, we believe that the consumer direct acceleration is clearly a tailwind or a fuel to our long-term financial model. First quarter reported revenues were $10.6 billion, down 1 percent on a reported basis and flat to prior year on a currency-neutral basis*, NIKE Direct sales were $3.7 billion, up 12 percent on a reported basis, and up 13 percent on a currency-neutral basis, with growth across all geographies, NIKE Brand digital sales increased 82 percent, or 83 percent on a currency-neutral basis, with double-digit increases across North America, Greater China, and APLA and triple-digit growth in EMEA, Diluted earnings per share for the quarter was $0.95, up 10 percent, Inventory rose 15 percent versus prior year but decreased 9 percent versus prior quarter, “Our results this quarter continue to demonstrate NIKE’s full competitive advantage, as we strengthen our position in the midst of disruption,” said John Donahoe, President and CEO, NIKE, Inc. “In this dynamic environment, no one can match our pace of launching innovative product and our Brand’s deep connection to consumers. What’s even more important though is that we can see several strategic and financial benefits from accelerating our digital transformation. We are accelerating investments in capabilities and services that will create value for the consumer, while simultaneously accelerating productivity. BEAVERTON, Ore., Sept. 22, 2020 — NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its first quarter ended August 31, 2020. And as we drive continued separation in the market through connected, seamless and modern consumer experiences, we will fuel growth and profitability. And the nice thing about that is, in almost every case, you can define measurable benefits, whether it’s enhanced growth, deeper connection with consumers, or improved efficiency with automation and use of — intelligent use of technology. Find the latest Earnings Report Date for Nike, Inc. Common Stock (NKE) at Nasdaq.com. Terrific rebound in the business. So, I’m wondering, as you think about the business from here, Matt, you talked a lot about continuing to invest, are there particular areas where you feel like you need to invest further? I just love the Venus and Serena spot, it just celebrates the power sport has in connecting with consumers. Nike (NKE) delivered earnings and revenue surprises of 97.92% and 15.49%, respectively, for the quarter ended August 2020. Joining us on today’s call will be NIKE, Inc. President and CEO, John Donahoe; and our Chief Financial Officer, Matt Friend. By the way, that’s continuous. A quick clarification on the digital trends. Wedbush currently has a “Outperform” rating and a $107.00 target price on the stock. Got you. Let me take a few minutes to walk through each of these points. Safe Harbor Certain statements contained in this presentation are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 . Obviously, right now, we’re in the middle of a quite an uncertain moment and pandemic. Act 0.78 Est 0.59 Q3 2020 Nike Inc Earnings Call 03/24/2020 05:00 PM (EDT) NKE. First quarter diluted earnings per share was $0.95, up 10% versus prior year. Express Lane drove revenue growth and generated higher full price realization in the quarter. Now, we know this is a multi-year journey and we have a bright future and lots of opportunity, but in many ways, we’re just getting started. And so, we’re simply accelerating that transition. These risks and uncertainties are detailed in the reports filed with the SEC, including the Annual Report filed on Form 10-K. The stock went up almost 9% due to impressive earnings beats. Building on our foundational strengths, there are three structural tailwinds that play to NIKE’s advantage. Next question is from Jim Duffy with Stifel. We now expect SG&A will be flat versus prior year, including approximately $200 million to $250 million of non-recurring execution costs incurred in the first half associated with simplifying our organizational structure. Our latest film celebrates sport as a source of inspiration from Serena and Venus Williams and You Can’t Stop Sisters to a sport — a spot [Phonetic] celebrating Kobe Bryant who continues to inspire athletes all over the world on and off the court. And so that’s how we’re looking at the first half of the year. First, by leveraging data to enhance membership, personalization and consumer-oriented O2O services across the marketplace, we can drive greater inventory efficiency and unlock accelerated growth in key opportunities like women’s and apparel. NIKE's (NKE) first-quarter fiscal 2021 results beat expectations on a robust digital showdown as well as strength across all regions. Third, I continue to be excited by the opportunity I see for NIKE in digital. And again, that’s where the scale competitive advantage comes from in our supply chain because we’ll be able to forecast demand, get the right inventory in the right places to get it to consumers quickly both for ourselves and maybe even over time as an added benefit for our strategic wholesale partners. I’ll now turn the call over to NIKE. I guess, just — and just a follow-up, quick question is, have you guys considered with the Cactus Jack maybe some sort of collaboration with McDonald’s in terms of like do the happy meal with the Cactus Jack and you can get a pair of shoes or anything like that, is that in the pipeline at all? Stocks. And we believe that by running that offense, we will see more productivity in our demand creation spend and a higher return on our demand creation spend. As I reflect on the first quarter, there are three key strategic and financial themes that stand out. Download the PDF of the FY21 Q1 Press Release and Schedules. So if you add that back, you get to a gross margin that’s down roughly 145 basis points versus the prior year and that’s driven by markdown activity to work through and normalize our supply. And while we continue to navigate through uncertain dynamics, sport has returned; interest in activity and health, fitness and wellness has never been greater; consumer connection and engagement with our brands is growing; and NIKE is transforming the way we operate to better serve all consumers. Despite the continued uncertainties, we now expect revenue to be up high single-digits to low double-digits versus prior year, stronger than anticipated demand for our brands will be constrained in the near-term due to supply decisions we took in the face of the pandemic with growth in the second half to be up significantly versus prior year. Presentation: Operator. According to Piper Sandler analysts, Nike, Inc. (NYSE: NKE) is now expected to announce $0.54 as earnings per share for the 1 st quarter of 2021 as per their report issued on the 14 th of December. Coach, as many of us called him, was a beloved member of the NIKE family, having served on our Board of Directors for over 30 years. And the more you get in a distributed environment and a less controlled environment, obviously, the more challenging that is. Thank you. Do the numbers hold clues to what lies ahead for the stock? Our goals and our principles related to how we financially manage the business are really unchanged to deliver sustainable, profitable and capital efficient growth over time. Thanks very much and nice quarter guys. And then beyond that, where I think we still have huge opportunity is we now have one integrated technology roadmap and we’re applying that across our entire company end-to-end. The Operator indicated, participants on today ’ s fiscal 2021 results earnings conference.! 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