28 Jun '18, 11pm

Nike revenue jumped to $9.8 billion in Q4:

A tax hike caused Nike to take a $921 million L in Q3 —its first net loss since 1998—but things are back in order for the fourth quarter. Double-digit growth in international markets and Nike's flourishing consumer-direct initiative saw revenues jump 13 percent to $9.8 billion, up from $9.0 billion in Q3. Another key contributor was a return to growth in North America, where revenues increased 3 percent after a Q3 drop of 8 percent. The company also announced Q4 net income of $1.1 billion thanks in large part to adjustments in the Tax Act as well as global revenue growth. CEO Mark Parker identified key areas responsible for Nike's success, first touting the brand's latest sneaker innovations, namely React and new Air Maxes across multiple styles and categories. Parker also said the brand's digital offensive has proved to be transformative, while a more focused strategy has...

Full article: https://solecollector.com/news/2018/06/nike-q4-2018-earni...

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