Welcome to NIKE, Inc.’s Fiscal 2021 Second Quarter Conference Call. And finally, we will manage digital transformation within our SG&A guardrails. And what I’d say is that in North America, EMEA and APLA, we continue to deliver above or at 100% triple-digit growth in digital in the quarter. So, on the financial algorithm and as we think through the accelerated shift to digital, and I think you had said within the guardrails of SG&A that you’ve outlined, are there any offsetting headwinds constraining your ability to potentially outpace your outlined high single-digit top line and mid-teens earnings growth rates as we think moving forward? Our size, our incredible product, our brand strength and infinity, the direct consumer relationships we deepen each day and our ability to create seamless and differentiated shopping experiences, that is how we drive continued separation. Physical retail traffic continues to grow and is approaching prior year levels, and we are also well positioned for Singles’ Day in November. This is significant for us as it speaks to the increasing consumer adoption of our apps. So, we are seeing a benefit from increased digital penetration on our margins within those two geographies. Nike Shares Soar To Record High As Digital Sales Surge Leads Q1 Earnings Beat. You can see this in our market share gains across the NIKE and Jordan brands. Nike Inc (NYSE:NKE) – Analysts at Oppenheimer issued their Q1 2021 earnings per share estimates for Nike in a report released on Monday, August 17th. Tags: nike market cents. I can tell you all 75,000 people here at NIKE love sport, love sport coming back and we’re cautiously optimistic that will continue till we get through this pandemic. Revenues for the NIKE Brand were $10.0 billion, flat to prior year on a currency-neutral basis driven by double-digit growth in NIKE Direct, as well as growth in Sportswear and the Jordan Brand, offset by declines in our wholesale business. As John said earlier, we know that digital is the new normal. And just as our continuous product pipeline, we continue to innovate in the retail space. Thanks very much. Why don’t I take the first part and then maybe John will grab the second piece of it. ET. September 23rd 2020. Nike (NKE) reports Q2 fiscal 2021 earnings, sales beat December 20, 2020 Sam khawaja 0 Comments Nike on Friday reported quarterly sales and earnings that topped analysts’ estimates, driven by triple-digit growth online in North America and strong demand for its … Welcome to Nike Inc’s Fiscal 2021 first quarter conference call. 15 hours Scholastic Corporation 2021 Q2 – Results – Earnings Call Presentation Seeking Alpha 16 hours Worthington Industries, Inc. (WOR) CEO Andy Rose on Q2 2021 Results – Earnings Call Transcript Seeking Alpha 17 hours Jabil Inc. (JBL) Q1 2021 Earnings Call Transcript – … Just this month, you saw Naomi Osaka give voice to the Black Lives Matter movement by sitting out the finals of the tournament just prior to the US Open before returning to the US Open and winning it. As with all our articles, AlphaStreet, Inc. does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company’s SEC filings. We are reducing excess inventory at lower promotional levels relative to the overall marketplace, highlighting the strength of our brand and the value of our key product franchises, and we ended Q1 in a net cash position, generating positive free cash flow and increasing our liquidity to over $13 billion. Nike Inc (NYSE:NKE) – Investment analysts at Wedbush issued their Q1 2021 EPS estimates for Nike in a report issued on Friday, June 12th. Download the PDF of the FY21 Q1 Press Release and Schedules. I wouldn’t trade our position with anyone. But I would also want to highlight that the strategy and the focus on shifting the marketplace exiting on differentiated wholesale distribution and focusing on our direct business and our strategic partners drove higher full price realization as well in both of those markets in the quarter, which also fueled our gross margin. Our whole product creation area — one of the people that is most excited about the opportunity to digitize is our Head of Design, John Hoke, and just how digital can really enhance not only the productivity, but also the creativity of our designers. The consumer today is digitally grounded and simply will not revert back. Sure, Omar. And, Omar, on the second, how cool is it to be able on a weekend, to watch literally within hours NBA, NFL, MLB, NHL, college football, US Open Tennis, a major golf tournament. Second, our brand continues to deeply connect. Wall Street analysts had projected earnings per share of $0.47 on revenue of $9.14 billion, according to Refinitiv estimates. Most notably during the pandemic, we’ve seen an acceleration of share gains in US women’s and apparel, two areas of strategic focus. Revenue of $10.59 billion beat the $9.11 billion estimate. I guess, looking at the North America and maybe — I mean, EMEA EBIT dollar growth significantly outpacing revenue growth in those markets. Your line is open. Greater China revenue increased by 6 percent on a reported basis and 8 percent on a currency-neutral basis, led by digital and NIKE Factory Stores. Our revenue trend is improving with Q1 flat to prior year on a constant currency basis. Regardless of where they’re shopping, consumers want what they want, when they want, how they want it. Your line is open. The NIKE and Jordan brands are stronger than ever, delivering historic records of engagement through nearly 5 billion social media impressions just this quarter. NIKE’s digital transformation strategy is not easily replicated. • First quarter reported revenues were $10.6 billion, down 1 percent on a reported basis and flat So if you add that back, you get to a gross margin that’s down roughly 145 basis points versus the prior year and that’s driven by markdown activity to work through and normalize our supply. But yeah, so it starts with where John was in his prepared remarks. As we look ahead to Q2, Bob, our margin will continue to be a function of supply and demand management because our top priority is to normalize inventory by the end of the second quarter. Q1 2021 Earnings Presentation November 5, 2020 . We now expect SG&A will be flat versus prior year, including approximately $200 million to $250 million of non-recurring execution costs incurred in the first half associated with simplifying our organizational structure. For those teammates who’ve been impacted by evacuation orders, we’ve made additional benefits of support available and the NIKE Foundation has donated $1 million to provide relief efforts for the Oregon wildfires, focusing on both intermediate and longer-term needs. 22 Sep, 2020 Length: 00:10 Download Embed Share. No. Subscribers Only. Ultimately, we will drive deeper consumer connections and continue to amplify our brand strength using technology to operate more efficiently and at greater scale. With that, let’s turn to our reported operating segments. Our new regional service center near Los Angeles went live this month and uses predictive modeling to anticipate consumer demand and ensure the product our consumers want is available and will arrive within one to two days. But more than the financial results, it’s the continued strength of our brand, the response we’re seeing from consumers and our unique position to be able to capitalize on our potential that excites me even more. I appreciated your comments, Matt, on the digital margins, obviously a very nice — I think you said 10 point higher gross margin than wholesale in your digital channel. Innovation is deeply ingrained in this company. I believe last quarter when you spoke to us I think to the exit rate was triple-digits in June, obviously it’s still a huge number for the overall quarter, but maybe just help us understand did that digital rate slow at the stores and the conversion came back in the bricks-and-mortars part of your DTC business? Net profit, FedEx Corporation (NYSE: FDX) reported second quarter 2021 earnings results today. I say my prayers every night and hope so. However, Q1 did benefit from about 55 basis points of one-time accrual reversals that we had incurred in Q4. Coupled with the popularity, we saw for VaporMax 2020, we are seeing real consumer appetite for sustainability, especially with our youngest consumers. Is it an ever lower customer acquisition cost? NIKE has a strong track record of investing to fuel growth and consistently increasing returns to shareholders including 18 consecutive years of increasing dividend payouts. SG&A declined 11% in Q1. Over the past two quarters, as we have seen demand for our digital business rapidly accelerate, we’ve invested to further increase digital fulfillment capacity and inventory visibility. NIKE, Inc. Q revenue declined 1% and was flat on a currency neutral basis, as NIKE Direct grew 13% led by strong digital growth offset by declines in our wholesale business. NIKE is staying on the offense and looking to extend our leadership position. We continue to see strong consumer engagement, in that You Can’t Stop Sport campaign with over 2.6 billion impressions as we’ve reached more than 800 million unique consumers around the world. And the more you get in a distributed environment and a less controlled environment, obviously, the more challenging that is. Another example is how our organizational restructuring will simplify the way we work, eliminate duplication and redundancy and realign our resources to focus on our biggest growth opportunities. And, of course, we remain focused on increasing member engagement to unlock value for both NIKE and our consumers. And over the past three months, as most companies focused on just surviving, we are continuously bringing forward new compelling product to market. In EMEA, Q1 revenue grew 5% on a currency neutral basis and EBIT grew 14% on a reported basis. And as more consumers returned to our stores, we saw impressive conversion in store, even as our digital business accelerated even further. For the full year, we now expect gross margin to be flat versus prior year, including 40 basis points of foreign exchange headwinds. And while we’ve had tremendous success in digital and quickly pivoted to the accelerated consumer shift, I truly believe that NIKE is just scratching the surface of what’s possible. Operating overhead expense decreased 1 percent to $2.3 billion as lower travel and related expenses were slightly offset by restructuring costs and continued investments in digital capabilities, both of which are associated with the Consumer Direct Acceleration, the next digitally empowered phase of our strategy. Got you. So, in the first quarter, our gross margin was down 90 basis points versus prior year. We continue to bring fresh points of view to our most beloved footwear, Air Force 1, Air Jordan 1 and our deep lineup of Air Max. And the benefit that that will drive is higher full price realization and less markdowns of product that we’re selling digitally to consumers. With leadership from global sports icons like Naomi and NBA players like LeBron and Giannis, as well as the thousands of others who have stood up and spoken out, our athletes are having a profound impact on our society. Hey, Matt. First, strong digital growth and increasing member engagement. Following their prepared remarks, we will take your questions. At the same time, we are focused on amplifying our brand impact. These strengths, coupled with our digital acceleration, are unlocking NIKE’s long-term market potential.”**. And while we are sharing with you our perspectives on the opportunities that we see, as we look towards the future, the reality is that this environment right now is quite uncertain. Thanks for taking my question and thanks for all the information. As you recall, our OneNike marketplace approach leads with NIKE digital in our own stores, as well as a smaller number of strategic partners who share our vision to provide a consistent and seamless consumer experience. The future for NIKE is bright. Third, I continue to be excited by the opportunity I see for NIKE in digital. Well. Estimates: Nike earnings per share are seen collapsing 97% to 2 cents, according to Zacks Investment Research.Revenue is seen … We think that’s good for consumers and it’s ultimately good for NIKE. Through the power of sport, we are creating hope and inspiration at a time when the world needs it. Nearly all of the NIKE-owned physical doors were open during the quarter across North America, EMEA and Greater China with approximately 90 percent of doors open in APLA. First quarter reported revenues were $10.6 billion, down 1 percent on a reported basis and flat to prior year on a currency-neutral basis* Participants may also make references to other non-public financial and statistical information and non-GAAP financial measures. I just love the Venus and Serena spot, it just celebrates the power sport has in connecting with consumers. Over the past several months, we’ve established clear objectives for our business and we have been relentless in our focus on those objectives and the results are reflecting that. Does that continue and does it cascade down to college and high school and youth? NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its first quarter ended August 31, 2020. This quarter, our owned digital channel grew 83% on a currency neutral basis, driving almost $900 million of incremental revenue versus the prior year, and an acceleration versus the prior quarter even as our doors at retail reopened. Thanks and congrats on a nice quarter. As always, it starts with product innovation. The stock went up almost 9% due to impressive earnings beats. In the event you have additional questions that are not covered by others, please feel free to requeue and we will do our best to come back to you. Despite the uncertainty regarding the impacts of the coronavirus outbreak, the company updated its guidance for fiscal 2021 based on the robust first-quarter results. First, by leveraging data to enhance membership, personalization and consumer-oriented O2O services across the marketplace, we can drive greater inventory efficiency and unlock accelerated growth in key opportunities like women’s and apparel. By continuously adding new styles, we expand these popular platforms. And while we doubled down on the strategic capabilities required to fuel our digital acceleration, we are simultaneously driving a sharper prioritization and sequencing of our investments. Wedbush analyst C. Svezia anticipates that the footwear maker will earn $0.58 per share for the quarter. We tightly managed operating expenses, including lower and more effective marketing spend, as live sporting events slowly started to resume, while investing to support accelerating digital growth and transformation. Much of the gains were fueled by 82% growth in online sales. After all, we know a consumer who connects with us on two or more platforms has a lifetime value that’s 4 times higher than those who don’t. And so, we’re simply accelerating that transition. Greater China, EMEA, Japan and South Korea have already returned to growth. Performance footwear resonated with consumers in APLA this quarter, as we saw strong results from the Alphafly NEXT% and the Pegasus 37. Second, we are accelerating investments in capabilities and services that will create value for the consumer, while simultaneously accelerating productivity. Looking forward, we believe that NIKE is stronger and now even better positioned to drive separation than prior to the pandemic. Terrific rebound in the business. NIKE Inc. NKE swings to post better-than-expected top and bottom lines for first-quarter fiscal 2021 on robust growth in digital business despite soft retail traffic and wholesale revenues. Good afternoon, everyone. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. Fourth and finally, digital is fueling how we create the future of retail. Yes, Michael. Well, Mike, if I step back, I would say the North America market, the North America retail market is the most fragmented and least far along of where it needs to get to of the major markets in the world. In Q1, we launched Nike (M), NIKE’s first dedicated maternity collection. Traffic trends were partially offset by higher conversion rates and higher spend per transaction. Is it really just a matter of scale? Just in Q1, we launched new stores in Guangzhou, China; Seoul, Los Angeles and Paris, with two new doors in New York City coming in the next few weeks. Marked paragraphs contain forward-looking statements may concern expectations of future revenue growth or margin! 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