The company said revenue for Q1 ended August 31, 2024 was $11.6 billion, down 10% on a reported basis and down 9% on a currency-neutral basis. NIKE Direct revenue was $4.7 billion, down 13%, and Wholesale revenue was $6.4 billion, down 8%.

1. 01

   The company said revenue for Q1 ended August 31, 2024 was $11.6 billion, down 10% on a reported basis and down 9% on a currency-neutral basis. NIKE Direct revenue was $4.7 billion, down 13%, and Wholesale revenue was $6.4 billion, down 8%.

2. 02

   NIKE, Inc. said gross margin for Q1 rose 120 basis points to 45.4%, and net income fell 28% to $1.1 billion. It said diluted earnings per share were $0.70, down 26%.

3. 03

   The company said it returned about $1.8 billion to shareholders in Q1, including dividends of $558 million and share repurchases of $1.2 billion. It said the share repurchases reflected the retirement of 14.8 million shares.

4. 04

   The company said on September 19, 2024, its Board of Directors appointed Elliott Hill as President and CEO, effective October 14, 2024. It said that, as it transitions its CEO, it will address its approach to guidance on the conference call and that it is postponing its Investor Day.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

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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