Nike Q4 Earnings Highlights: Sales And EPS Beat, Nike Direct Sales Up 7%, New Share Buyback And More

Zinger Key Points
  • Nike reported fourth quarter revenue of $12.2 billion, a decline of 1% year-over-year.
  • Nike shares have traded between $103.46 and $179.10 over the last 52-weeks.

Apparel and footwear company Nike Inc NKE reported fourth-quarter and full fiscal year earnings Monday after the market close. Here are the key highlights for investors.

What Happened: Nike reported fourth-quarter revenue of $12.2 billion, a decline of 1% year-over-year. The revenue total came in ahead of a Street consensus estimate of $12.07 billion, according to data from Benzinga Pro.

Fourth-quarter earnings per share for Nike totaled 90 cents, beating a consensus estimate of 81 cents.

Nike Direct saw sales of $4.8 billion in the fourth quarter, up 7% year-over-year. Wholesale sales hit $6.8 billion in the fourth quarter, a drop of 7% year-over-year. Sales in the Converse division were $593 million in the fourth quarter, down 1% year-over-year.

Sales in North America were up 5% in the fourth quarter, with sales up 25% for the EMEA region and up 43% for the APLA region. Nike said the China division saw a decline in the fourth quarter. 

Nike-owned stores posted a same-store sales decline of 2% in the fourth quarter.

“Nike’s results this fiscal year are a testament to the unmatched strength of our brands and our deep connection with consumers,” Nike CEO John Donahoe said.

For the full fiscal year, Nike’s sales hit $46.7 billion, up 5% year-over-year. Full-year sales for Nike Direct were $18.7 billion in the full fiscal year, up 14% year-over-year.

Related Link: How Nike Stock Looks Heading Into Its Q4 Earnings Print 

What’s Next: Nike announced the authorization of a new $18-billion share buyback plan over the next four years.

Nike has retired 77.4 million shares worth $8.7 billion under its most recent buyback plan. The company bought back $4 billion in shares in fiscal 2022.

“Our competitive advantages, including our pipeline of innovative product and expanding digital leadership, prove that our strategy is working as we create value through our relentless drive to serve the future of sport,” Donahoe said.

NKE Price Action: Nike shares, which lost 2.13% in Monday's regular session, were gaining back 0.65% in after-hours trading to $111.22.

Nike shares have traded between $103.46 and $179.10 over the last 52-weeks.

Photo courtesy of Nike. 

Posted In: apparel stocksConversefootwear stocksJohn DonahoeEarningsNewsBuybacks

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