\nNIKE, Inc. (NYSE:NKE) today reported fiscal 2025 financial results for its second quarter ended November 30, 2024.<\/p>\n
- \n
- \nSecond quarter revenues were $12.4 billion, down 8 percent on a reported basis compared to the prior year and down 9 percent on a currency-neutral basis*<\/p>\n<\/li>\n
- \nNIKE Direct revenues were $5.0 billion, down 13 percent on a reported basis and down 14 percent on a currency-neutral basis<\/p>\n<\/li>\n
- \nWholesale revenues were $6.9 billion, down 3 percent on a reported basis and down 4 percent on a currency-neutral basis<\/p>\n<\/li>\n
- \nGross margin decreased 100 basis points to 43.6 percent<\/p>\n<\/li>\n
- \nDiluted earnings per share was $0.78<\/p>\n<\/li>\n<\/ul>\n
\n“After an energizing 60 days of being back with my NIKE teammates, our clear priority is to return sport to the center of everything we do,” said Elliott Hill, President & CEO, NIKE, Inc. “We’re taking immediate action to reposition our business, so we can get back to driving long-term shareholder value. Our team is ready to go, and I’m confident you will see more moments of NIKE being NIKE again.”<\/p>\n
\n“NIKE’s second-quarter financial performance largely met our expectations, as we continue to make progress in shifting our portfolio,” said Matthew Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “Under Elliott’s leadership, we are accelerating our pace and reigniting brand momentum through sport.”<\/p>\n
Second Quarter Income Statement Review<\/b><\/p>\n
- \n
- Revenues<\/i><\/b>for NIKE, Inc. were $12.4 billion, down 8 percent on a reported basis compared to the prior year and down 9 percent on a currency-neutral basis.\n
- \n
- \nNIKE Brand revenues were $12.0 billion, down 7 percent on a reported basis and down 8 percent on a currency-neutral basis, driven by declines across all geographies.<\/p>\n<\/li>\n
- \nNIKE Direct revenues were $5.0 billion, down 13 percent on a reported basis and down 14 percent on a currency-neutral basis, primarily due to a 21 percent decrease in NIKE Brand Digital and a 2 percent decrease in NIKE-owned stores.<\/p>\n<\/li>\n
- \nWholesale revenues were $6.9 billion, down 3 percent on a reported basis and down 4 percent on a currency-neutral basis.<\/p>\n<\/li>\n
- \nRevenues for Converse were $429 million, down 17 percent on a reported basis and down 18 percent on a currency-neutral basis, due to declines across all territories.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n
- Gross margin<\/i><\/b> decreased 100 basis points to 43.6 percent, primarily due to higher discounts and changes in channel mix, partially offset by lower product input costs as well as lower warehousing and logistics costs.\n<\/li>\n
- Selling and administrative expense<\/i><\/b> decreased 3 percent to $4.0 billion.\n
- \n
- \nDemand creation expense was $1.1 billion, up 1 percent, primarily due to an increase in sports marketing expense offset by a decrease in brand marketing expense.<\/p>\n<\/li>\n
- \nOperating overhead expense decreased 5 percent to $2.9 billion, due to lower wage-related expenses and lower other administrative costs.<\/p>\n<\/li>\n<\/ul>\n<\/li>\n
- \nThe effective tax rate<\/i><\/b> was 17.9 percent compared to 17.9 percent for the same period last year.<\/p>\n<\/li>\n
- Net income<\/i><\/b> was $1.2 billion, down 26 percent, and Diluted earnings per share<\/i><\/b> was $0.78, a decrease of 24 percent.\n<\/li>\n<\/ul>\n
November 30, 2024 Balance Sheet Review<\/b><\/p>\n
- \n
- Inventories <\/i><\/b>for NIKE, Inc. were $8.0 billion, flat compared to the prior year, reflecting an increase in units offset by lower product input costs and product mix shifts.\n<\/li>\n
- Cash and equivalents and short-term investments<\/i><\/b> were $9.8 billion, down approximately $0.2 billion from last year, as cash generated by operations was more than offset by share repurchases, cash dividends and capital expenditures.\n<\/li>\n<\/ul>\n
Shareholder Returns<\/b><\/p>\n
\nNIKE continues to have a strong track record of consistently increasing returns to shareholders, including 23 consecutive years of increasing dividend payouts.<\/p>\n
\nIn the second quarter, the Company returned approximately $1.6 billion to shareholders, including:<\/p>\n
- \n
- Dividends<\/i><\/b> of $557 million, up 7 percent from the prior year.\n<\/li>\n
- Share repurchases<\/i><\/b> of $1.1 billion, reflecting 13.1 million shares retired as part of the Company\u2019s four-year, $18 billion program approved by the Board of Directors in June 2022.\n<\/li>\n<\/ul>\n
\nAs of November 30, 2024, a total of 112.8 million shares have been repurchased under the program for a total of approximately $11.3 billion.<\/p>\n
Conference Call<\/b><\/p>\n
\nNIKE, Inc. management will host a conference call beginning at approximately 2:00 p.m. PT on December 19, 2024, to review fiscal second quarter results. The conference call will be broadcast live via the Internet and can be accessed at https:\/\/investors.nike.com<\/a>. For those unable to listen to the live broadcast, an archived version will be available at the same location through approximately 9:00 p.m. PT, January 10, 2025.<\/p>\n
About NIKE, Inc.<\/b><\/p>\n
\nNIKE, 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. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.\u2019s earnings releases and other financial information are available on the Internet at https:\/\/investors.nike.com<\/a>. Individuals can also visit https:\/\/news.nike.com<\/a> and follow @NIKE.<\/p>\n
Forward-Looking Statements<\/b><\/p>\n
\nThis press release contains forward-looking statements, which involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the U.S. Securities and Exchange Commission (SEC), including Forms 8-K, 10-Q and 10-K.<\/p>\n
\n
\n \n \n*<\/p>\n<\/td>\n
\n Non-GAAP financial measure. See additional information in the accompanying Divisional Revenues.<\/i><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n NIKE, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONSOLIDATED STATEMENTS OF INCOME<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (Unaudited)<\/i><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n THREE MONTHS ENDED<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n SIX MONTHS ENDED<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (In millions, except per share data)<\/i><\/p>\n<\/td>\n
\n 11\/30\/2024<\/b><\/p>\n<\/td>\n
\n 11\/30\/2023<\/b><\/p>\n<\/td>\n
\n Change<\/b><\/p>\n<\/td>\n
\n 11\/30\/2024<\/b><\/p>\n<\/td>\n
\n 11\/30\/2023<\/b><\/p>\n<\/td>\n
\n Change<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nRevenues<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n12,354<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n13,388<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n23,943<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n26,327<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCost of sales<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6,965<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7,417<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-6<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n13,297<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n14,636<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGross profit<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,389<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,971<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-10<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n10,646<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n11,691<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n Gross margin<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 43.6<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 44.6<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 44.5<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 44.4<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDemand creation expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,122<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,114<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,348<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,183<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating overhead expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,883<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,032<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-5<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,705<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6,079<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-6<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal selling and administrative expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,005<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,146<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8,053<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8,262<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n % of revenues<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 32.4<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 31.0<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 33.6<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 31.4<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense (income), net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(24<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(22<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(67<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(56<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOther (income) expense, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(8<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(75<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(63<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(85<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome before income taxes<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,416<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,922<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-26<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,723<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,570<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-24<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome tax expense<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n253<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n344<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-26<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n509<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n542<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-6<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n Effective tax rate<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 17.9<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 17.9<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 18.7<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 15.2<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n NET INCOME<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 1,163<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 1,578<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -26<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 2,214<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 3,028<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -27<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEarnings per common share:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBasic<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n0.78<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.04<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-25<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.48<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.99<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-26<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n0.78<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.03<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-24<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.48<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1.97<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-25<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nWeighted average common shares outstanding:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nBasic<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,486.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,520.8<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,492.3<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,524.6<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDiluted<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,490.0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,532.1<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,495.9<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,537.7<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDividends declared per common share<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n0.400<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n0.370<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n0.770<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n0.710<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n NIKE, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n CONSOLIDATED BALANCE SHEETS<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (Unaudited)<\/i><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n November 30,<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n November 30,<\/b><\/p>\n<\/td>\n
\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (Dollars in millions)<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2024<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2023<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nASSETS<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent assets:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCash and equivalents<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n7,979<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n7,919<\/p>\n<\/td>\n
\n \n1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShort-term investments<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,782<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,008<\/p>\n<\/td>\n
\n \n-11<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts receivable, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,302<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,782<\/p>\n<\/td>\n
\n \n11<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInventories<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7,981<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7,979<\/p>\n<\/td>\n
\n \n0<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nPrepaid expenses and other current assets<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,936<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,943<\/p>\n<\/td>\n
\n \n0<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current assets<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n24,980<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n24,631<\/p>\n<\/td>\n
\n \n1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nProperty, plant and equipment, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,857<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,153<\/p>\n<\/td>\n
\n \n-6<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating lease right-of-use assets, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,736<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,943<\/p>\n<\/td>\n
\n \n-7<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIdentifiable intangible assets, net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n259<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n269<\/p>\n<\/td>\n
\n \n-4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGoodwill<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n240<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n281<\/p>\n<\/td>\n
\n \n-15<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred income taxes and other assets<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,887<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,926<\/p>\n<\/td>\n
\n \n24<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL ASSETS<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 37,959<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 37,203<\/b><\/p>\n<\/td>\n
\n 2<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nLIABILITIES AND SHAREHOLDERS\u2019 EQUITY<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent liabilities:<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of long-term debt<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,000<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n100<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nNotes payable<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n49<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6<\/p>\n<\/td>\n
\n \n717<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccounts payable<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,255<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,709<\/p>\n<\/td>\n
\n \n20<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCurrent portion of operating lease liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n481<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n456<\/p>\n<\/td>\n
\n \n5<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAccrued liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,694<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,470<\/p>\n<\/td>\n
\n \n4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nIncome taxes payable<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n767<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n358<\/p>\n<\/td>\n
\n \n114<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal current liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n11,246<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8,999<\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nLong-term debt<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7,973<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8,930<\/p>\n<\/td>\n
\n \n-11<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nOperating lease liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,562<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,785<\/p>\n<\/td>\n
\n \n-8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nDeferred income taxes and other liabilities<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,141<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,343<\/p>\n<\/td>\n
\n \n-9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nRedeemable preferred stock<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nShareholders\u2019 equity<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n14,037<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n14,146<\/p>\n<\/td>\n
\n \n-1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL LIABILITIES AND SHAREHOLDERS\u2019 EQUITY<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 37,959<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 37,203<\/b><\/p>\n<\/td>\n
\n 2<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n NIKE, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n DIVISIONAL REVENUES<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (Unaudited)<\/i><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n % Change Excluding Currency Changes<\/b>1<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n % Change Excluding Currency Changes<\/b>1<\/sup><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n THREE MONTHS ENDED<\/b><\/p>\n<\/td>\n
\n \n SIX MONTHS ENDED<\/b><\/p>\n<\/td>\n
<\/tr>\n \n \n (Dollars in millions)<\/i><\/p>\n<\/td>\n
\n 11\/30\/2024<\/b><\/p>\n<\/td>\n
\n 11\/30\/2023<\/b><\/p>\n<\/td>\n
\n % Change<\/b><\/p>\n<\/td>\n
\n 11\/30\/2024<\/b><\/p>\n<\/td>\n
\n 11\/30\/2023<\/b><\/p>\n<\/td>\n
\n % Change<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n North America<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFootwear<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n3,236<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n3,757<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-14<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-14<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n6,448<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n7,490<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-14<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-14<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nApparel<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,693<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,668<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,024<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,147<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEquipment<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n250<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n200<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n533<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n411<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n30<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n30<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,179<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n5,625<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n10,005<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n11,048<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n Europe, Middle East & Africa<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFootwear<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,982<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,186<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-12<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,934<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n4,446<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-12<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-12<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nApparel<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,136<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,200<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-5<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,129<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,337<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-10<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEquipment<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n185<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n181<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n383<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n394<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,303<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,567<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-7<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-10<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6,446<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7,177<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-10<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-11<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n Greater China<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFootwear<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,203<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,361<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-12<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-14<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,449<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,648<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nApparel<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n472<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n469<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n832<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n870<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-6<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEquipment<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n36<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n33<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n96<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n80<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n20<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n21<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,711<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,863<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-11<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,377<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,598<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-6<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-7<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n Asia Pacific & Latin America<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFootwear<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,234<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,303<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-5<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-4<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,286<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n2,444<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-6<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nApparel<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n437<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n437<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n0<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n0<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n785<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n808<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEquipment<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n73<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n65<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n12<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n10<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n135<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n125<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n10<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nTotal<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,744<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,805<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-2<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,206<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,377<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-5<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-2<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n Global Brand Divisions<\/b>2<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n13<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n12<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-2<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n27<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL NIKE BRAND<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 11,950<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 12,872<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -7<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n -8<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 23,061<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 25,225<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -9<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n -9<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nConverse<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n429<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n519<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-17<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-18<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n930<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,107<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-16<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-16<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCorporate3<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(25<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(3<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(48<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(5<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL NIKE, INC. REVENUES<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 12,354<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 13,388<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -8<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n -9<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 23,943<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 26,327<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -9<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n -9<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL NIKE BRAND<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nFootwear<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n7,655<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n8,607<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-11<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-12<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n15,117<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n17,028<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-11<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-11<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nApparel<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,738<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n3,774<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-2<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n6,770<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n7,162<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-5<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-6<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEquipment<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n544<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n479<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n14<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n12<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,147<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,010<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n14<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n13<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGlobal Brand Divisions2<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n13<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n12<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n-2<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n27<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n25<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n9<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL NIKE BRAND REVENUES<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 11,950<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 12,872<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -7<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n -8<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 23,061<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 25,225<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -9<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n -9<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n 1<\/sup>The percent change has been calculated using actual exchange rates in use during the comparative prior year period and is provided to enhance the visibility of the underlying business trends by excluding the impact of translation arising from foreign currency exchange rate fluctuations, which is considered a non-GAAP financial measure. Management uses this non-GAAP financial measure when evaluating the Company’s performance, including when making financial and operating decisions. Additionally, management believes this non-GAAP financial measure provides investors with additional financial information that should be considered when assessing the Company’s underlying business performance and trends. References to this measure should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies.<\/p>\n<\/td>\n<\/tr>\n
\n \n 2 <\/sup>Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment.<\/p>\n<\/td>\n<\/tr>\n
\n \n 3<\/sup> Corporate revenues primarily consist of foreign currency hedge gains and losses related to revenues generated by entities within the NIKE Brand geographic operating segments and Converse, but managed through the Company’s central foreign exchange risk management program.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n
\n \n NIKE, Inc.<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n EARNINGS BEFORE INTEREST AND TAXES<\/b>1<\/sup><\/p>\n<\/td>\n<\/tr>\n
\n \n (Unaudited)<\/i><\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \n\u00a0<\/p>\n<\/td>\n
\n THREE MONTHS ENDED<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n SIX MONTHS ENDED<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n (Dollars in millions)<\/i><\/p>\n<\/td>\n
\n 11\/30\/2024<\/b><\/p>\n<\/td>\n
\n 11\/30\/2023<\/b><\/p>\n<\/td>\n
\n Change<\/b><\/p>\n<\/td>\n
\n 11\/30\/2024<\/b><\/p>\n<\/td>\n
\n 11\/30\/2023<\/b><\/p>\n<\/td>\n
\n Change<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nNorth America<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,371<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n1,526<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-10<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n2,587<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n$<\/p>\n<\/td>\n
\n \n2,960<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-13<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nEurope, Middle East & Africa<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n831<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n927<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-10<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,623<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,857<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-13<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGreater China<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n375<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n514<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-27<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n877<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n1,039<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-16<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nAsia Pacific & Latin America<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n460<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n521<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-12<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n862<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n935<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-8<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nGlobal Brand Divisions2<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(1,133<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(1,168<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n3<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(2,360<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(2,373<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n1<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL NIKE BRAND<\/b>1<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 1,904<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2,320<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -18<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 3,589<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 4,418<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -19<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n \nConverse<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n53<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n115<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-54<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n174<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n282<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n-38<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n \nCorporate3<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(565<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(535<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n-6<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(1,107<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(1,186<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n7<\/p>\n<\/td>\n
\n \n%<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL NIKE, INC. EARNINGS BEFORE INTEREST AND TAXES<\/b>1<\/sup><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 1,392<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 1,900<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -27<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 2,656<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 3,514<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -24<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n EBIT margin1<\/sup><\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 11.3<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 14.2<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 11.1<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n 13.3<\/i><\/p>\n<\/td>\n
\n %<\/i><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n \nInterest expense (income), net<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(24<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(22<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(67<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n \n(56<\/p>\n<\/td>\n
\n \n)<\/p>\n<\/td>\n
\n \n\u2014<\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n
\n \n TOTAL NIKE, INC. INCOME BEFORE INCOME TAXES<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 1,416<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 1,922<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -26<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 2,723<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n $<\/b><\/p>\n<\/td>\n
\n 3,570<\/b><\/p>\n<\/td>\n
\n \n\u00a0<\/p>\n<\/td>\n
\n -24<\/b><\/p>\n<\/td>\n
\n %<\/b><\/p>\n<\/td>\n<\/tr>\n
\n \n 1 <\/sup>The Company evaluates the performance of individual operating segments based on earnings before interest and taxes (commonly referred to as “EBIT”), which represents Net income before Interest expense (income), net and Income tax expense. Total NIKE Brand EBIT, Total NIKE, Inc. EBIT and EBIT margin are considered non-GAAP financial measures. Management uses these non-GAAP financial measures when evaluating the Company’s performance, including when making financial and operating decisions. Additionally, management believes these non-GAAP financial measures provide investors with additional financial information that should be considered when assessing the Company\u2019s underlying business performance and trends. EBIT margin is calculated as total NIKE, Inc. EBIT divided by total NIKE, Inc. Revenues. References to EBIT and EBIT margin should not be considered in isolation or as a substitute for other financial measures calculated and presented in accordance with U.S. GAAP and may not be comparable to similarly titled non-GAAP measures used by other companies.<\/p>\n<\/td>\n<\/tr>\n
\n \n 2 <\/sup>Global Brand Divisions primarily represent demand creation and operating overhead expense, including product creation and design expenses that are centrally managed for the NIKE Brand, as well as costs associated with NIKE Direct global digital operations and enterprise technology. Global Brand Divisions revenues include NIKE Brand licensing and other miscellaneous revenues that are not part of a geographic operating segment.<\/p>\n<\/td>\n<\/tr>\n
\n \n 3 <\/sup>Corporate consists primarily of unallocated general and administrative expenses, including expenses associated with centrally managed departments; depreciation and amortization related to the Company\u2019s corporate headquarters; unallocated insurance, benefit and compensation programs, including stock-based compensation; and certain foreign currency gains and losses, including certain hedge gains and losses.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n
\n\u00a0<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20241219682756\/en\/<\/a><\/span><\/p>\n
Investor Contact:
\n<\/span>
Paul Trussell
\n
investor.relations@nike.com<\/a><\/p>\nMedia Contact:
\n<\/span>
Virginia Rustique-Petteni
\n
media.relations@nike.com<\/a><\/p>\nKEYWORDS:<\/b> Oregon United States North America<\/p>\n
INDUSTRY KEYWORDS:<\/b> Fashion Footwear Retail Sports Department Stores General Sports<\/p>\n
- Share repurchases<\/i><\/b> of $1.1 billion, reflecting 13.1 million shares retired as part of the Company\u2019s four-year, $18 billion program approved by the Board of Directors in June 2022.\n<\/li>\n<\/ul>\n
- Cash and equivalents and short-term investments<\/i><\/b> were $9.8 billion, down approximately $0.2 billion from last year, as cash generated by operations was more than offset by share repurchases, cash dividends and capital expenditures.\n<\/li>\n<\/ul>\n
- Net income<\/i><\/b> was $1.2 billion, down 26 percent, and Diluted earnings per share<\/i><\/b> was $0.78, a decrease of 24 percent.\n<\/li>\n<\/ul>\n
- Selling and administrative expense<\/i><\/b> decreased 3 percent to $4.0 billion.\n
- Revenues<\/i><\/b>for NIKE, Inc. were $12.4 billion, down 8 percent on a reported basis compared to the prior year and down 9 percent on a currency-neutral basis.\n
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