Nike Announces Fiscal 2022 Fourth Quarter and Full Year Financial Results
Jun 28, 2022 By MarketDepth
Nike, Inc. (NYSE: NKE) announced financial results for its fiscal 2022 fourth quarter and full year ended May 31st, 2022. Fourth quarter reported revenues were $12.2 billion, down 1 percent compared to prior year and up 3 percent on a currency-neutral basis*
Revenue up 7%
NIKE Direct reported revenues for the fourth quarter were $4.8 billion, up 7 percent compared to prior year and up 11 percent on a currency-neutral basis.
“NIKE’s results this fiscal year are a testament to the unmatched strength of our brands and our deep connection with consumers. 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.”**
John Donahoe, President and CEO, NIKE, Inc
“In this dynamic environment, NIKE’s unrivalled strengths continue to fuel our momentum,” said Matt Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “Two years into executing our Consumer Direct Acceleration, we are better positioned than ever to drive long-term growth while serving consumers directly at scale.”
Revenues for fiscal 2022 increased 5 percent to $46.7 billion, up 6 percent on a currency-neutral basis.
Double Digit Growth for Nike Direct
Revenues for the NIKE Brand were $44.4 billion, up 5 percent on a reported basis and 6 percent on a currency-neutral basis, driven by double-digit growth in NIKE Direct, partially offset by slight declines in wholesale revenues.
NIKE Direct revenues were $18.7 billion, up 14 percent on a reported basis and up 15 percent on a currency-neutral basis, led by NIKE Brand digital growth of 18 percent and NIKE-owned stores were up 10 percent.
