Nike’s Q1 2019 Results and Earnings
NIKE, Inc. (NIKE) is the world’s top designer, marketer, and distributor of athletic footwear, equipment, apparel, and accessories. The Beaverton, Oregon based company offers products for a wide variety of sports and fitness activities.
Nike recently reported its first quarter 2019 results. The company beat earnings estimates that called for $0.657 per share with $0.67, an increase of 18 percent. Nike also saw double-digit revenue growth that was accredited to the continuous success of the Consumer Direct Offense.
Nike’s revenue was reported at $9.9 billion, a 10 percent increase. Its margin increased 50 basis points to 44.2 percent thanks to higher average selling prices. Net income saw a 15 percent increase to $1.1 billion.
The company also repurchased 17.8 million shares for about $1.4 billion as part of its 4-year, $12 billion program that was approved by the Board of Director in November of 2015.
Mark Parker, Chairman, President and CEO, NIKE, Inc“NIKE’s Consumer Direct Offense, combined with our deep line up of innovation, is driving strong momentum and balanced growth across our entire business. Our expanded digital capabilities are accelerating our complete portfolio and creating value across all dimensions as we connect with and serve consumers.”
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