🔹 Revenue: $11.72B (Est. $10.97B) 🟢; +1% YoY
🔹 EPS (diluted): $0.49 (Est. $0.27) 🟢; -30% YoY
🔹 Gross Margin: 42.2% (Est. 41.7%) 🟢; -320 bps YoY
🔹 Greater China EBIT: $377M (Est. $361.8M) 🟢
Q1 Segment:
NIKE Brand
🔹 Revenue: $11.36B (Est. $10.55B) 🟢; UP +2% YoY (reported); Flat (c-neutral)
🔹 NIKE Direct: $4.5B; DOWN -4% YoY (reported); DOWN -5% (c-neutral)
🔹 Wholesale: $6.8B; UP +7% YoY (reported); UP +5% (c-neutral)
Converse
🔹 Revenue: $366M; DOWN -27% YoY (reported); DOWN -28% (c-neutral)
Other Metrics:
🔹 Selling & Administrative Expense: $4.0B; DOWN -1% YoY
🔹 Demand Creation Expense: $1.2B; DOWN -3% YoY
🔹 Operating Overhead: $2.8B; Flat YoY
🔹 Effective Tax Rate: 21.1% (vs. 19.6% LY)
🔹 Inventory: $8.11B (Est. $7.92B) 🟡; DOWN -2% YoY
🔹 Cash & ST Investments: $8.6B; ↓ ~$1.7B YoY
Other Ops:
🔹 NIKE Brand Digital: DOWN -12% YoY
🔹 NIKE-owned Retail: DOWN -1% YoY
Capital Returns:
🔹 Dividends: $591M; UP +6% YoY (23 consecutive years of dividend increases)
🔹 Share Repurchases: $123M (1.8M shares); $12.1B repurchased to-date under the $18B program
CEO / CFO Commentary:
🔸 “This quarter NIKE drove progress through our Win Now actions… we still have work ahead to get all sports, geographies, and channels on a similar path.” — CEO Elliott Hill
🔸 “Momentum improved, but progress won’t be linear as parts of the business recover on different timelines; we’re focused on what we can control.” — CFO Matthew Friend