Nike said revenue for fiscal 2024 was $51.4 billion, up slightly from $51.2 billion in fiscal 2023. It said NIKE Direct revenue grew 1%, from $21.3 billion to $21.5 billion.

1. 01

   Nike said revenue for fiscal 2024 was $51.4 billion, up slightly from $51.2 billion in fiscal 2023. It said NIKE Direct revenue grew 1%, from $21.3 billion to $21.5 billion.

2. 02

   The company said its gross margin rose 110 basis points to 44.6% in fiscal 2024, citing strategic pricing actions and lower ocean freight rates and logistics costs as the main drivers. It said higher product input costs, lower margin in NIKE Direct and unfavorable changes in foreign currency exchange rates partially offset the gain.

3. 03

   Nike said income before income taxes in fiscal 2024 included a restructuring charge of $443 million related to streamlining the organization. It said the charge was primarily associated with employee severance costs and accelerated stock-based compensation expense.

4. 04

   The company said inventories as of May 31, 2024 were $7.5 billion, down 11% from the prior year. It also said it returned $6.4 billion to shareholders through share repurchases and dividends in fiscal 2024. Cash and short-term investments were $11.6 billion on the same date.

Key figures

Fiscal year ended May 31, 2024

Revenue

$51.4B

Net income

$5.7B

EPS

$3.73

Gross profit

$22.9B

Operating cash flow

$7.4B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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