๐น Revenue: $11.72B (Est. $10.97B) ๐ข; +1% YoY
๐น EPS (diluted): $0.49 (Est. $0.27) ๐ข; -30% YoY
๐น Gross Margin: 42.2% (Est. 41.7%) ๐ข; -320 bps YoY
๐น Greater China EBIT: $377M (Est. $361.8M) ๐ข
Q1 Segment:
NIKE Brand
๐น Revenue: $11.36B (Est. $10.55B) ๐ข; UP +2% YoY (reported); Flat (c-neutral)
๐น NIKE Direct: $4.5B; DOWN -4% YoY (reported); DOWN -5% (c-neutral)
๐น Wholesale: $6.8B; UP +7% YoY (reported); UP +5% (c-neutral)
Converse
๐น Revenue: $366M; DOWN -27% YoY (reported); DOWN -28% (c-neutral)
Other Metrics:
๐น Selling & Administrative Expense: $4.0B; DOWN -1% YoY
๐น Demand Creation Expense: $1.2B; DOWN -3% YoY
๐น Operating Overhead: $2.8B; Flat YoY
๐น Effective Tax Rate: 21.1% (vs. 19.6% LY)
๐น Inventory: $8.11B (Est. $7.92B) ๐ก; DOWN -2% YoY
๐น Cash & ST Investments: $8.6B; โ ~$1.7B YoY
Other Ops:
๐น NIKE Brand Digital: DOWN -12% YoY
๐น NIKE-owned Retail: DOWN -1% YoY
Capital Returns:
๐น Dividends: $591M; UP +6% YoY (23 consecutive years of dividend increases)
๐น Share Repurchases: $123M (1.8M shares); $12.1B repurchased to-date under the $18B program
CEO / CFO Commentary:
๐ธ โThis quarter NIKE drove progress through our Win Now actionsโฆ we still have work ahead to get all sports, geographies, and channels on a similar path.โ โ CEO Elliott Hill
๐ธ โMomentum improved, but progress wonโt be linear as parts of the business recover on different timelines; weโre focused on what we can control.โ โ CFO Matthew Friend