nike earnings call 2023

All three NIKE Rise stores use real-time shopping insight and the community focus to deliver tailored in-store experiences for consumers. The key is building meaningful, direct, lifelong relationships with consumer. And we're confident that to the extent that something more significant happens, we're taking some of the right actions now in order to position us well in that scenario. And so, we're seeing strong demand as we go back into our wholesale partners with available supply that's enabling us to increase our open to buy in that channel. We can't completely predict it. Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. And -- and as inventory supply becomes available on a -- on a -- on a greater basis than it was, we continue to see our partners pulling on the available inventory. NIKE, inc (NKE) Q2 2022 Earnings Call Transcript Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Welcome to NIKE, Inc.'s fiscal 2023 third quarter conference call. Thank you, Mr. As the operator indicated, participants on today's call may discuss non-GAAP financial measures. Our dance pack, they hyper-localized. In Greater China, our brand and business momentum continued as Q2 revenue grew 6% on a currency-neutral basis, and EBIT declined 10% on a reported basis. NIKE, inc ( NKE -3.46%) Q1 2022 Earnings Call Sep 23, 2021, 5:00 p.m. Over this past year, no matter what we have faced, our teammates have continued to come together and deliver. Information presented was current only as of the date of the conference call and may have subsequently changed materially. Partners enable us to serve consumers with expanded access, choice and convenience, and above all, letting us know and serve these consumers across the full marketplace. Our next question comes from the line of Paul Lejuez with Citi. Hi, everybody. It's directly connecting with consumers, is critical to serve consumers going forward to have that direct connection, use our membership program to translate what has been a transactional relationship into a lifetime relationship of value, whether it's through directly or through our partners. The -- you know, one of the phrases we've been using repeatedly, frankly, for the last two and a half years is, "In times of turbulence, strong brands can get stronger." NIKE's brand momentum with our youngest Chinese consumers continues to grow as well. And during the exciting World Cup over the last several weeks, the new Mercurial scored more goals than any other boot, led by Kylian Mbapp who won the Golden Boot as the tournament's top scorer. But given the size of the transitory impacts that we've dealt with over the past two years, it's really important that we drive focus and attention on -- on -- on recovery of -- of some of those elements. And then, Matt, you can comment on some of the details. 1 ever. Thank you, operator. Forward's being introduced in hoodies and crewnecks for men and women that feature raw cut pockets, minimal seams and a modern silhouette. As 18,000 runners joined in the return of the Shanghai Marathon, our brand presence was deeply felt, not only as the title sponsor, but also as NIKE dominated the shoe count and local NIKE athlete, Zhang Deshun, topped the podium. NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. First quarter diluted earnings per share was $0.93. It starts with price value of our products and how we create value for consumers in the products that we make. Following their prepared remarks, we will take your questions. And the AJ 11's Varsity Red shock drop highlighted Jordan brand's momentum. 1 cool and No. Leading today's call is. Running delivered solid growth with strong consumer response to the Pegasus 39, Invincible 2 and the Peg Trail 4. It allows our wholesale partners to -- to have the same advantages that we have by knowing who the consumer is, what they've bought, and being able to serve them in a more personalized way. News, Events & Reports - NIKE, Inc. - Investor Relations Third, the composition of our inventory is improving. This outlook reflects our strong performance in Q2, mostly offset by an additional 25 basis points of negative foreign exchange impact, now totaling 95 basis points for the full year. Hello, everyone, and thank you for joining us today to discuss NIKE, Inc.'s fiscal 2023 first quarter results. And I referenced the door closures that we saw at the end of -- at the end of the quarter. Our brand momentum is strong. And today, we're seeing results that are beneficial for everyone. The exact timing of those, I think we're a little bit out of the game. But we're going to keep our -- keep focused on the consumer. We'll move next now to Abbie Zvejnieks at Piper Sandler. And then, down to the bottom of the funnel, it's making sure we're getting them, as I say repeatedly, what they want, when they want it, how they want it, knowing -- knowing what -- what products they want, making sure they have the best possible experiences, making sure that repeat buying is made easy and convenient. NIKE digital grew 23% with double-digit growth across EMEA, North America and APLA, fueled by increasing traffic, higher conversion and growth in average order value. And this quarter, I'd like to highlight an important part of our culture of innovation: our constant pursuit to improve on our most popular platforms. NIKE Q1 2023 Earnings Call Transcript - MarketBeat In addition, we have now transitioned our businesses in Argentina, Chile and Uruguay to a distributor model. Nike shares fall as overstocked inventory weighs on earnings Published Thu, Sep 29 20224:26 PM EDT Updated Fri, Sep 30 202211:00 AM EDT Lillian Rizzo @Lilliannnn Key Points Nike first fiscal. And that will continue for quarters and years to come. In Greater China, as an example, our inventory was down 3% versus the prior year, and we feel quite confident about our inventory levels in EMEA and APLA. At the end of Q2, we are tracking in line with our plan, and we are pleased with the progress we have made over the last 90 days. We continue to see strong month-to-date sales in EMEA and APLA as well. We saw stronger retail sales across the marketplace than we had planned. | June 21, 2023 Product innovation remains a key differentiator with strong sell-through from the Alphafly Next% 2, the Pegasus 39, the G.T. The reason I ask, you talked about it qualitatively. Third-quarter revenue growth is expected to be higher than the fourth quarter due to timing of wholesale shipments. Nike Looks Expensive; Some REITs Look Cheap, Cumulative Growth of a $10,000 Investment in Stock Advisor, Join Over Half a 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. Full-price realization remains strong after strategic pricing increases, especially for our top innovation products in our largest footwear franchises. Friend. The same consumers shop online and offline. As I mentioned earlier, our Q2 results speak to the continued success of our strategy. 1. And after nearly two years of unprecedented disruptions, Greater China grew 6% on a currency-constant basis, translated to -3% on a reported basis due to foreign exchange. Simply put, we have a roster of athletes, teams, leagues and federations that represents the very best in sport, creating inspiration for consumers worldwide. For those who want to reference today's press release, you'll find it at investors.nike.com. Stock Advisor list price is $199 per year. Your next question comes from Brian Nagel with Oppenheimer. 3 Passive Income Stocks to Hold for the Next 20 Years. I'm proud of our results this quarter as our brand momentum, culture of innovation and proven operational playbook delivered yet another quarter of strong revenue growth. And to give you an example, we've seen double-digit growth in retail sales in EMEA in Q1 and in -- sorry, not in Q1, in September season to date. And, trust me, our teams are focused on it, and we believe those will be value drivers for us in the near term. But I wouldn't -- I wouldn't want you to miss the -- the importance of the funnel and the way that we're converting active members to buying members and increasing member buying frequency because our growth in apps actually over-indexed our overall digital growth, really referencing that -- that strength of -- of the consumer coming in. Thanks for your cooperation on this. 1 store on Tmall's kid's footwear channel, plus, our top kids lifestyle footwear franchise is growing double digits in Q2, we are more excited than ever about NIKE's opportunity to serve the next generation. 1 brand shopping app, we're more encouraged than ever about NIKE's opportunity to serve Chinese consumers with distinct, premium and localized experiences. *Stock Advisor returns as of December 1, 2022, John Donahoe -- President and Chief Executive Officer. Thank you. We expect second quarter gross margins to decline approximately 350 to 400 basis points versus the prior year, the largest impact across the fiscal year as we discount out-of-season product more aggressively in a largely promotional marketplace. Thank you, Paul. Factors Likely to Influence NIKE's (NKE) Earnings in Q2 - Yahoo Finance Nike (NKE) Q3 earnings 2023 - CNBC Our current headwinds, such as foreign exchange and inventory challenges, are transitory, but our tailwinds are structural, like the expanding definition of sport, the consumers' move toward digital, and the cultural shifts toward comfort and health and wellness. Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. And it's kind of a balance. I know you moved the mountain, but you know, you have a big wholesale business. We have a great basketball portfolio coming. So, there's -- you know, we have good full price realization. NIKE Direct grew 20% on a currency-neutral basis and NIKE Digital grew 46%. NIKE, Inc. (NKE) Q3 2023 Earnings Call Transcript You know, we set a goal two quarters ago to be clean by the end of the second quarter. In fact, more than 50% of store demand comes from members. But we're seeing some softness in the U.K., and it's being more than offset by strength across the rest of the EMEA portfolio, in France, Germany, Italy, Spain, etc. We expect that total inventory in North America peaked in Q1, and we anticipate seeing sequential improvement over the year as we rebalance supply and continue serving strong consumer demand. Yeah, Tom, well, maybe I'll take a piece of it. We're supercharging how we serve consumers with innovation, direct connection and experiences that create lifelong relationships with our brands. We now expect gross margin to decline between 200 to 250 basis points versus the prior year. Thanks so much for taking my question. But we will -- we are focused on ensuring that the holiday product at the starting season that's arriving on time is going to be set in the marketplace in our strategic partners so that we can put our best foot forward with the consumer. Q2 was our biggest member demand quarter ever. Over this period, NIKE Direct gross margins expanded through the combination of rapid digital growth and improvements in channel margin profitability, ultimately fueling NIKE's overall gross margin expansion despite being partially offset by transitory headwinds experienced through the pandemic. However, our brand and business momentum gives us increasing confidence that NIKE's unique value proposition will fuel long-term growth in Greater China. Thanks so much for taking my question. NIKE, Inc. Announces Third Quarter Fiscal 2023 Earnings and Conference Call In EMEA, we saw record results. And so, we expect the spread of inventory growth to revenue growth to continue to narrow over the second half. We deepen consumer connections across territories with member days fueling robust growth. Hi. That wasn't for China. Yes. We do expect that there will be some residual liquidation that takes place in the third quarter. Well, as it relates to inventory, Michael, the answer -- you don't usually get a yes or no question, but the answer to your first question is yes. 1 favorite brand, further extending our lead among teams. We created a first-of-its kind China-specific member journey with Tmall, which saw a significant uplift in new member recruitment and demand per member. Yeah, and I just would comment on inventory. Thanks. And so, it's that combination that that certainly, and as we come out of more and more COVID, we're being able to to pull together time and time again. So when we look at our overall inventory, we think that there's about 10% of the inventory that we're focused on in terms of trying to drive more accelerated liquidation. And then, most recently, this quarter, we saw a significant improvement in transit times after we and many others had made the strategic decision to buy the holiday season earlier because of the longer transit times. Serena doesn't like to use the word retired, so I won't either. The energy extended into double-digit growth for our running business led by Zoom Fly and Vaporfly, as well as the Pegasus and Winflo. These advantages, along with our scale, the strength of our portfolio of brands and the right strategy, renew our confidence in a more populated competitive landscape. And so, I don't know if there's quantitative. Your last question comes from the line of Michael Binetti with Credit Suisse. Image source: The Motley Fool. For instance, in July, we opened our first NIKE Rise store in EMEA, NIKE West London, following the success of NIKE Rise in China and Korea. Last quarter, I highlighted another franchise in another sport getting an upgrade, the Mercurial, which added Zoom airbag to create NIKE's fastest football boot ever. So from performance to sportswear sustainability, NIKE has always married the art and science of product creation as we use innovation and design to connect with and inspire consumers all over the globe. Yeah, and I just would say on this -- on this -- on the comment about market share and confidence, really, you know, you saw the balanced growth we delivered this quarter across channels. NIKE's authenticity as the champion for athletes and sport has always been one of our greatest strengths. NIKE's innovation can also be felt with our rich and powerful storytelling and our deep brand engagement, particularly in global sport moments like the World Cup. Our ability to expand the world of sport and our ability to create the future of sport itself is why I wouldn't trade NIKE's position with anyone. BEAVERTON, Ore., Sept. 29, 2022 NIKE, Inc. (NYSE:NKE) today reported fiscal 2023 financial results for its first quarter ended August 31, 2022. I guess the first thing I'd say is, you know, our prior-year comparisons on inventory are really distorting the progress that we made this quarter because, a year ago, we were undergoing 15 weeks of lost production capacity from our factories being closed in Vietnam. Final Trades: Abbvie, Broadcom . What I said last quarter is still true, though, which is that we -- we were concerned about the macro uncertainty and the indicators that we're seeing more broadly for the consumer. And as John mentioned, it really does start with digital with that 34% growth. We continue to expect gross margin to decline between 200 to 250 basis points versus the prior year, reflecting ongoing liquidation actions in the second half. Nike (NKE) Q2 2023 Earnings Call Transcript | The Motley Fool And then, our digital growth I think is a function of having the best apps in the industry or on the home screen of people's mobile apps, which is, you know, that scarce and valuable real estate. And both those dimensions were down mid-teens from a unit perspective versus -- versus the prior quarter. NIKE's growth is strengthened quarter by quarter by the expanded definition of sport, by the societal movement toward comfort and health and wellness and by the fundamental shift in consumer behavior toward digital. NKE earnings call for the period ending June 30, 2022. For us, the decisions we take and the commitments we make to inventory end up mattering most in the context of the way that we look at the Forward plan. And those specifically relate to two successive years of elevated transit and freight costs, and then, secondarily, the costs to liquidate some of the excess inventory in North America. We think it puts us in a position of strength relative to the marketplace to be clean and to be ready to face whatever uncertainties are in front of us. Along with Frances Tiafoe and Jannik Sinner, the future of men's tennis was on full display, with NIKE proud to represent this next generation of exciting players. And this innovative product is warm and yet lightweight with a future-forward look that consumers have responded to since its unveiling last week. BEAVERTON, Ore.-- (BUSINESS WIRE)-- NIKE, Inc. (NYSE: NKE) plans to release its second quarter fiscal 2023 financial results on Tuesday, December 20, 2022, at approximately 1:15 p.m. PT, following the close of regular stock market trading hours. 1 in member demand penetration. The Motley Fool recommends the following options: long January 2025 $47.50 calls on Nike. This quarter, it became clear to us that conditions in North America are shifting once again. NIKE, Inc. Learn More, Nike(NKE -0.83%)Q12023 Earnings CallSep 29, 2022, 5:00 p.m. Welcome to NIKE, Inc.'s Fiscal 2023 First Quarter Conference Call. We're now starting to see the product that reflects our shift two years ago to our new consumer construct of men's, women's and kids, and the impact it's had is remarkable. The expected . Returns as of 06/28/2023. Q1 revenue grew 17% on a currency-neutral basis. And, you know, with that growth, did you enter or reenter any new doors, or was this growth mainly within those current partners you've already talked about? I guess just on the inventory, Matt, is there a number -- as you think through the next few quarters, you know, could you give us an idea of where you think you'll land in terms of, you know, the inventory levels or when you might have, sort of, a more normalized number, you know, either in North America, you know, or overall? Theyjust revealed what they believe are thetenbest stocksfor investors to buy right now and Nikewasn't one of them! As you heard me say before, at NIKE, it all starts with product innovation. With that, let's open up the call for questions. Wednesday's top Wall Street analyst calls includes Nvidia - CNBC Individuals can also visit http://news.nike.com and follow @NIKE. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. At NIKE, our focus remains not only to grow market share but also to invest to grow the entire market. And so, you know, the first thing I'll say about that I think is a -- is a really important dimension of membership, is membership is no longer just something that happens in NIKE channels. September 29, 2022 04:15 PM Eastern Daylight Time. So, should we think that, you know, you're kind of back to a pull market in China, you know, you should be able to sort of build off the momentum you've you've had this quarter, or just -- just how do we kind of think about the path forward in China from here? Making the world smarter, happier, and richer. NIKE brand ASP is up year over year across our geographies even with higher discounts to liquidate excess inventory. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. We also continue to strengthen local connections through our express lane with launches, such as our Somos Familia collection. The second quarter also compares to last year's record level of full price realization and includes headwinds from freight, logistics and other supply chain costs, as well as foreign exchange. So we see strong consumer demand in North America currently, right? And when we need to move things, we move it through discounting. At our core, NIKE is a growth company, built on a passion for serving athletes. Just talk about some of the assumptions regarding the macro. NIKE, Inc. Reports Fiscal 2023 Second Quarter Results And then, perhaps more near-term, how much of the strength of NIKE Digital that you're seeing today is due to underlying full-price selling, and how much of that may be driven by increased step-up promotions driving the consumer to convert at a higher rate? Jim Cramer's game plan for the week ahead: Nike & Walgreens to - CNBC And then, Air Max Scorpion was the starting point in the lifestyle basis, we have a strong Air Max pipeline over the next six to 12 months. For those who want to reference today's press release, you'll find it at investors.nike.com. And we're watching traffic closely. Earlier, I mentioned this landmark 18 months for global football we've got coming up. Earnings Previews: Constellation Brands, Nike - 24/7 Wall St. NIKE Direct grew 30% on a currency-neutral basis, led by 29% growth in NIKE Digital and 31% growth from NIKE-owned stores. And so, it obviously varies by product category and varies by time. And we mentioned last quarter, we had our -- our wholesale partners on campus in September for the first time in three years and expose them to our product innovation pipeline and just talked about how working together we can really serve that consumer through connected membership. NIKE's unique ability to bring together products, storytelling, and the world's best athletes has once again created something that only NIKE can. See strong catalyst path over next 6-12 mos. Nike earnings: Here's what to expect next week. For those who want to reference today's press release you'll find it at investors.nike.com. There are some very specific things we're doing with regards to excess inventory in North America. I'll now -- I'll now turn the call over to NIKE, Inc. president and CEO, John Donahoe. Meanwhile, NIKE dominated shoe and apparel counts at the Berlin and London marathons as Alphafly drove strong sell-through. As of today, we expect approximately 700 basis points of foreign exchange headwinds, resulting in full-year reported revenue growth of mid-single digits. NIKE continues to lead as the No. But as it relates to our performance this quarter and how we're planning for the second half of this year, we've obviously been monitoring the China marketplace very carefully given the COVID-related disruptions that we've been experiencing. And so, we continue to take a cautious approach to the second half. Nike, Inc. is estimated to report earnings on 03/20/2023. These trends give us confidence that we have a strong and loyal member foundation to drive digital growth ahead. The Motley Fool has positions in and recommends Nike. First, inventory dollars and units are down sequentially. To make the world smarter, happier, and richer. The summit was a great opportunity for us to accelerate into the future together with a unified vision and belief in partnership and collaboration.

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