NIKE, Inc. Announces Target for FY17 Revenues of $36 Billion

NIKE, Inc. NKE -0.14%  today provided an overview of its progress on key strategic initiatives to achieve sustainable, profitable long-term growth. During an investor meeting at its world headquarters in Beaverton, Ore., the Company stated it expects to deliver revenues of $30 billion by fiscal year 2015.

At the top end of its previously announced fiscal year 2015 target range of $28-30 billion and shared a new fiscal year 2017 revenue target of $36 billion. Additionally the Company reaffirmed its long-term financial model of high single-digit revenue growth, mid-teens earnings per share growth and expanding returns on capital.

"NIKE, Inc. is designed to win. We've never been better positioned to capitalize on the opportunities ahead of us," said NIKE, Inc. President and CEO Mark Parker. "We have a strong management team and we are accelerating our innovation agenda to create products and services that drive growth in the marketplace, deliver exciting retail experiences globally and expand the capabilities of our powerful supply chain. Read more NIKE.

China Seen Losing Sheen for IBM, Nike as Hurdles Mount

Stronger domestic competition and more discerning shoppers have hurt sales at Nike Inc. (NKE) and Yum! Brands Inc. McDonald’s Corp. same-store sales fell 3.2 percent in the third quarter, the fourth decline in a row.

Chinese consumers are “very cautious” and typically revert to local chains in difficult economic times, Chief Executive Officer Don Thompson said on a call with analysts.

Chinese filmmakers are also capturing most of the country’s growth, with rules that favor local productions. The U.S. share of film receipts in China shrunk to 42 percent this year from 58 percent a year ago, according to Rentrak, a research firm. Read more.

Athletics Footwear Industry: No Hurdles in Sight

Athletic footwear – a sub-industry of the global textiles, apparel and luxury goods industry – comprises manufacturers and marketers of athletic footwear, apparel, and sports equipment who sell to end consumers all over the world through online stores, company-owned outlets, wholesalers and franchises.

The total size of the US athletic footwear industry in terms of revenues is approximately $53.7 billion, 82.8% of which are contributed by Nike, Inc. (NKE) and Adidas AG (ADDYY). Nike has the larger market share of 47.1%, despite it being a younger company than Adidas. Other key players in the industry include Under Armour (UA), Wolverine World Wide, Inc. (WWW) and Deckers Outdoor Corporation (DECK). read more.

Nike – Just Buy It

Nike, Inc. (NKE) is the 30th most popular global brand according to the Global 500 2012 list released by Brand Directory. The company designs, develops and markets athletic footwear and apparel, sports equipment, accessories and services. Its major markets include North America, Western Europe, emerging markets and Greater China, which together contribute over 81% of Nike’s total revenues. North America alone contributes around 41% of Nike’s total revenues.

Nike beat analyst estimates for earnings for its most recent quarter. It announced diluted quarterly earnings of $0.86 per share for the first quarter (1Q) of fiscal year (FY) 2014, while analysts were expecting EPS of $0.78. Nike’s shares were up over 6.5% on the day following the announcement. read more.