NIKE, Inc. Announces Target of $50 Billion in Revenue by End of FY20*
October 14, 2015
NIKE, Inc. (NYSE: NKE) today will provide an overview of its progress on key strategic initiatives to achieve sustainable, profitable long- term growth. During an investor meeting at its world headquarters near Beaverton, Ore., the Company announced a revenue target of $50 billion by the end of fiscal year 2020.
“Today, we’re showing how NIKE is built for growth – now and for years to come,” said Mark Parker, NIKE, Inc. President and CEO. “We lead because we serve the athlete and consumer completely – through breakthrough product and personal experiences, all around the world. As we look toward 2020, we are accelerating the pace of innovation across every area of our business to deliver the very best to athletes everywhere – when and where they want it.”
NIKE is also announcing further investments and partnerships leveraging digital to accelerate innovation end-to-end, across design, manufacturing and product creation. A new facility at NIKE’s world headquarters was unveiled, the Advanced Product Creation Center, which will house some of the Company’s most advanced manufacturing and design capabilities under one roof. The Center will bring together engineers, material scientists and designers to work together with advanced manufacturing methods to develop the next breakthrough technology, following the multisport success of Flyknit.
Throughout the day, NIKE will provide added dimension to its growth plan through category and geographic business opportunities, digital investments, integrated marketplace strategies, new innovation partnerships and long-term financial objectives. Mark Parker is followed by Trevor Edwards, President, NIKE Brand; Jeanne Jackson, President, Product and Merchandising; Jayme Martin, Vice President and GM, Global Categories; Elliott Hill, President of Geographies and Sales; Christiana Shi, President, Direct to Consumer; Eric Sprunk, Chief Operating Officer; and Andy Campion, Executive Vice President and Chief Financial Officer.
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. subsidiary brands include Converse, which designs, distributes and licenses casual sneakers, apparel and accessories; and Hurley, which designs and distributes a line of action sports and youth lifestyle apparel and accessories. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http://investors.nike.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.