Nike earns 1,372 million in its first fiscal quarter, 1% less, and increases its sales by 2%

MADRID, 29 Sep.

Nike earns 1,372 million in its first fiscal quarter, 1% less, and increases its sales by 2%


The American sports clothing and equipment giant Nike posted a net profit of 1,450 million dollars (1,372.3 million euros) in its first fiscal quarter, ended August 31, which is equivalent to a decrease of 1% compared to the same period of the previous year, according to the company.

The group's turnover grew by 2% between June and August, to 12,939 million dollars (12,246 million euros) driven by the growth of sales in the EMEA region (8%), China (5%) and Asia Pacific and Latin America (2%). In contrast, Nike's turnover in North America decreased by 2%, to 5,423 million dollars (5,132 million euros).

Of the group's total income, $12,353 million (€11,691 million) came from sales of the Nike brand, 3% more than in its first fiscal quarter of 2022, while the Converse brand had a turnover of $588 million ( 556.5 million euros), 9% less, due to the drop in sales in North America.

By business segments, sales of Nike brand sports footwear grew by 4%, to 8,421 million dollars (7,970 million euros), while income from the sale of clothing amounted to 3,388 million dollars (3,206 million euros), 1% less. For its part, sales of Nike sports equipment reached 531 million dollars (502.5 million euros), 9% more.

Nike's inventories in its first fiscal quarter totaled $8.7 billion (€8.234 million), 10% less than the previous year, due, according to the company, to the decrease in units, "partially offset by the mix of products and rising input costs.

Nike's gross margin decreased 10 points, to 44.2%, as a result of increased product costs and unfavorable variations in net exchange rates, according to the sports firm.

In its first fiscal quarter, Nike returned approximately $1.7 billion (€1.609 million) to shareholders, including dividends worth $524 million (€496 million), 9% more than the previous year.

"The first quarter was a testament to what Nike can deliver when it connects great innovation, great storytelling and great market experiences with consumers. Looking ahead, we are focused on expanding these successes with greater consistency and speed as we We continue to integrate and rationalize our business," underlined the firm's president and CEO, John Donahoe.

Although Nike's quarterly results have been lower than expected by Wall Street analysts, the sports clothing and equipment giant's shares closed this Thursday with an increase of 0.23%, up to $89.63 per share (84 .82 euros).