Home American fashion company US-based Nike revenue increases 5% to $46.7 billion in FY22

US-based Nike revenue increases 5% to $46.7 billion in FY22

0
Nike revenue grew 5% to $46.7 billion in fiscal 2022, up 6% on a currency-neutral basis, driven by double-digit growth from Nike Direct , partially offset by a slight decline in wholesale revenues. Nike Direct revenue was $18.7 billion, up 14% on a reported basis and 15% on a currency-neutral basis.

Gross margin increased 120 basis points to 46% in fiscal 2022, primarily due to margin expansion in the Nike Direct business, higher mix of full price sales and favorable changes in net currency exchange rates, including hedging, partially offset by higher freight and logistics costs and higher inventory obsolescence reserves in Greater China in the fourth quarter, the company said. in a press release.

“Nike’s results for this fiscal year demonstrate the unparalleled strength of our brands and our deep connection to consumers,” said John Donahoe, President and CEO, Nike, Inc.. “Our competitive advantages, including our innovative product pipeline and expanding digital leadership, prove our strategy is working as we create value through our relentless drive to serve the future of sport.”

Nike revenue grew 5% to $46.7 billion in fiscal 2022, up 6% on a currency-neutral basis, driven by double-digit growth from Nike Direct , partially offset by a slight decline in wholesale revenues. Nike Direct revenue was $18.7 billion, up 14% on a reported basis and 15% on a currency-neutral basis.

In the fourth quarter, Nike Direct revenue increased 7% on a reported basis and 11% on a currency-neutral basis, driven by growth of 25% in EMEA, 43% in APLA and 5% in North America. , partially offset by a decline in Greater China. Nike Brand Digital grew 15% on a reported basis and 18% on a currency-neutral basis, driven by double-digit growth in APLA, North America and EMEA. Nike-owned stores were down 2% on a reported basis and up 1% on a currency-neutral basis.

“In this dynamic environment, Nike’s unparalleled strengths continue to fuel our momentum,” said Matt Friend, Executive Vice President and Chief Financial Officer, NikeInc. “Two years after executing our direct-to-consumer acceleration, we are better positioned than ever to drive long-term growth while serving direct consumers at scale.”

Fibre2Fashion (RR) Press Office