NIKES SALES UP IN FOURTH QUARTER AND FULL YEAR
ON THE UPSWING
Nike, Inc. reported fourth quarter revenues up 5 percent to $8.7 billion while full-year fiscal 2017 revenues climbed 6 percent to $34.4 billion.
“Nike continues to create both near-term wins in today’s dynamic environment and a lasting foundation for future growth,” said Mark Parker, Chairman, President and CEO of Nike, Inc. “Through our Consumer Direct Offense, we’re putting even more firepower behind our greatest opportunities in Fiscal 2018. It will be a big year for Nike innovation and we’ll bring those stories to life through deeper consumer connections in key cities around the world.”
In the fourth quarter, revenues for the Nike brand reached $8.1 billion, up 7 percent, driven by double-digit growth in Western Europe, Greater China, and the Emerging Markets. Converse posted revenues of $554 million, up 10 percent compared to the same period of last year.
Nike plans to continue its push in 2018 with a flow of innovation, personalization and customer experience, especially in the women’s arena, where it believes there is a big potential for growth.
Globally, the Nike-branded apparel business grew 9 percent to $2.79 billion, while footwear sales inched up 4 percent to $5.03 billion.