- Nike press release ( NYSE: NKE ): FQ1 GAAP EPS of $0.93 beats by $0.01 .
- Revenue of $12.69B (+3.6% Y/Y) beats by $410M .
- NIKE Direct sales were $5.1 billion, up 8 percent on a reported basis and up 14 percent on a currency-neutral basis
- NIKE Brand Digital sales increased 16 percent on a reported basis, or 23 percent on a currency-neutral basis, led by 46 percent growth in EMEA
- Gross margin decreased 220 basis points to 44.3 percent
- Cash and equivalents and short-term investments were $11.9 billion, down approximately $1.8 billion from last year, as free cash flow was offset by share repurchases and cash dividends
- Inventories for NIKE, Inc. were $9.7 billion, up 44 percent compared to the prior year period, driven by elevated in-transit inventories from ongoing supply chain volatility, partially offset by strong consumer demand during the quarter.
- Dividends of $480 million, up 11 percent from the prior year.
- Share repurchases of $1.0 billion, reflecting 9.0 million retired shares.
- “Our focus continues to be the consumer, as we take action to navigate near-term dynamics while expanding long-term structural benefits through our Consumer Direct Acceleration strategy.” said said Matthew Friend, Executive Vice President and CFO.
- Shares -1.17% .
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Nike GAAP EPS of $0.93 beats by $0.01, revenue of $12.69B beats by $410M