Highlights from Nike's Q314 Earnings Conference Call
Below are some highlights from Nike's (NYSE: NKE) third-quarter earnings conference call:
- Delivered robust growth in a well balanced way across the whole portfolio
- Q3 Highlights
- Released new cleats for Super Bowl.
- Launched new collection.
- Both Canadians mens and womens hockey teams wore Nike's hockey jersey.
- When it comes to innovation we pride ourselves as being the trend setters
- Nike brand growth across all categories especially in sportswear,runwear, basketball.
- Running business showing great results with double digit growth
- Nike also drives growth by targeting its resources against the greatest opportunities
- Continued success in basketball comes from creating the best products
- Q3 jordan milestones
- Largest launch ever with the jordan 11
- First jordan store opened in NYC called flight 23
- Emerging markets show significant opportunity in the near and long term
- Consumer demand in mexico remains strong
- Across the rest of the emerging markets seven territories reported double digit growth
- Nike brand remains strong in north america
- Greater china market grew 17%
- We made changes to supply chain that are improving inventory levels in the marketplace
- Still have work to do in china but feel great about the progress
- We are setting the foundation for our long term growth in china
- Growth was broad based in western europe
- Success in western europe is no surprise our restructuring two years ago has improved the experience for our consumers and strengthened our brand
- Goal is to provide profitable growth in short term and invest so we can have profitable growth in the long term
- We expect fx headwinds will reduce our eps for the q4 and 2015
- The level of spending has been lower than expected as we shifted investment
- Cash conversion cycle continues to improve
- Significantly higher sales for nike.com
- Key objective in resetting the china market is increasing the profitability of our retail business
- Business in japan continues to generate positive momentum
- This years devaluation of emerging markets currencies will be a drag on next years margin growth
- Pricing strategy revolves around our price value with the consumer
- Strength of brand allows us to command a premium price
- Limited resistance in bringing premium to the the market
- Very bullish on the young athletes business
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