NIKE Brand expected to deliver nearly $10 billion in incremental revenue by FY17; Key growth areas highlighted include Apparel, Women’s and e-commerce.
BEAVERTON, Ore., October 9, 2013 – NIKE, Inc. (NYSE: NKE) today hosted investors at its world headquarters and announced its goal to deliver $36 billion in revenue by fiscal year 2017. The company also stated it expects to deliver revenues of $30 billion by fiscal year 2015, at the top end of its previously announced target range of $28-30 billion.
"NIKE, Inc. is designed to win. We’ve never been better positioned to capitalize on the opportunities ahead of us,” said NIKE, Inc. President and CEO Mark Parker. “We have a strong management team and we are accelerating our innovation agenda to create products and services that drive growth in the marketplace, deliver exciting retail experiences globally and expand the capabilities of our powerful supply chain.”
The Company expects NIKE Brand growth across its business portfolio of geographical business units, product types, businesses and categories. Some of the NIKE Brand fiscal 2017 growth targets highlighted at the meeting included:
Apparel to grow from $7.5 billion to $10 billion
Women’s business to grow from $4 billion to $7 billion**
Direct to Consumer e-commerce business to grow from nearly $550 million to $2 billion
Investors and media are invited to view the replay of the webcast and slides from the event at http://investors.nikeinc.com. The transcript and other event materials will also be available approximately 24 hours after the event and accessible for approximately a year after the event.
About NIKE, Inc.
NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly-owned NIKE, Inc. subsidiaries include Converse Inc., which designs, markets and distributes athletic lifestyle footwear, apparel and accessories and Hurley International LLC, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories. For more information, NIKE’s earnings releases and other financial information are available on the Internet at http://investors.nikeinc.com and individuals can follow @Nike.
* This press release contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE, Inc. with the Securities and Exchange Commission, including Forms 8-K, 10-Q, and 10-K.
** Expressed as wholesale equivalent revenues, a non-GAAP financial measure. NIKE Brand wholesale equivalent revenues consist of (1) sales to external wholesale customers and (2) internal sales from the Company’s wholesale operations to its Direct to Consumer operations, which are charged at prices that are comparable to prices charged to external wholesale customers. NIKE Brand wholesale equivalent revenues are intended to provide context as to the total size of the market footprints of the Company’s NIKE Brand running category and women’s business if the Company had no Direct to Consumer operations and should not be relied upon as financial measures of actual results.