US sportswear and equipment supplier NIKE has reported revenues of $20.9 billion for the fiscal year ending 31 May 2011, a ten percent rise over the previous year.
Diluted earnings per share for both the quarter and full year hit record highs.
“In fiscal year 2011, we delivered exceptional results in extraordinary times,” said Mark Parker, president and CEO.
In the fourth quarter, revenues increased 14 percent to $5.8 billion, a rise of 11 percent on a currency neutral basis. Excluding the impact of changes in foreign currency, NIKE Brand revenues rose 12 percent, driven by growth in all geographies except Japan and Central and Eastern Europe.
By category, revenues were up on a currency neutral basis in all key categories except Football (Soccer), which peaked during last year’s World Cup. Net income increased 14 percent to $594 million and diluted earnings per share increased 17 percent to $1.24.
NIKE Brand revenues in North America increased 22 percent to $2.1 billion withthe strongest growth coming from Running, Men’s Training, Sportswear, Basketball and Women’s Training, which were all up at a double-digit rate for the quarter.
In the rest of the world, fourth quarter revenues increased 21 percent in Greater China, 5 percent in Western Europe and one percent in Central and Eastern Europe (but were down 1 percent on a currency neutral basis as higher revenues in Russia were offset by declines in most other territories).
Fourth quarter revenues in the Emerging Markets geography were up 25 percent, with 6 points of benefit from changes in currency exchange rates.
At the end of the quarter, futures orders for NIKE brand athletic footwear and apparel scheduled for delivery from June through November 2011 totaled $10.3 billion, 15 percent higher than orders reported for the same period last year.
For the year as a whole, revenues for NIKE, Inc. and the NIKE Brand were both up 10 percent to $20.9 billion and $18.1 billion respectively, with minimal impact from changes in currency exchange rates.
Net income increased 12 percent to $2.1 billion and diluted earnings per share increased 14 percent to $4.39.
“Our business is organized to drive growth across multiple brands, geographies and categories, as we manage through the ever-changing macroeconomic landscape.” Parker added, “We continue to deliver compelling innovation to athletes and consumers, and strong returns for our shareholders. The global appetite for sports has never been stronger.”
