Form 8-K · Current Report · Filed 2024-03-21
NIKE Reports Slight Revenue Increase and Margin Improvement Despite Restructuring Charges
NIKE, Inc. reported fiscal 2024 third-quarter results, showing a slight revenue increase to $12.4 billion, both reported and currency-neutral. Gross margin improved to 44.8%, driven by strategic pricing and lower logistics costs, partially offset by restructuring charges. Diluted earnings per share (EPS) were $0.77, including $0.21 of restructuring charges, which would have been $0.98 without these charges. The company returned approximately $1.4 billion to shareholders through dividends and share repurchases. Management remains focused on driving growth through innovation and efficiency improvements.
- Filer
- Nike Inc. NKE · NYSE
- Filed
- Accession
- 0000320187-24-000013
- CIK
- 0000320187
- Signal
- Low impactConsumer Cyclical
- Source
- Official filing on sec.gov ↗
Items reported
Results of Operations and Financial Condition
Financial Statements and Exhibits
Market reaction
Close before filing
$100.27
Next session
-6.4%
Since filing
-58.4%
Latest close
$41.71
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from NKE reporting the same item, with the next session's move:
Exhibits (1)
About Nike Inc.
Nike Inc. is a global leader in the design, development, and marketing of athletic footwear, apparel, equipment, and accessories. As a major player in the sports and lifestyle industries, Nike's primary function is to provide high-performance athletic gear that enhances athletic pursuits across various disciplines, including running, basketball, soccer, and tennis, among others. Noteworthy for its innovative product line, Nike consistently pushes the boundaries of sports technology, offering products like the Air Max and Flyknit shoes that integrate advanced materials and design for optimal performance. Beyond physical products, Nike is heavily involved in digital transformation efforts, delivering enhanced experiences through platforms like the Nike Training Club and Nike App. Serving a diverse customer base from professional athletes to everyday fitness enthusiasts, the company maintains a significant presence worldwide. With headquarters in Beaverton, Oregon, Nike also sponsors prominent sports teams and figures, reinforcing its influence on global sports culture.
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