NIKE, Inc. Reports Fourth Quarter and Fiscal Year 2021 Results
BEAVERTON, Oregon, June 24, 2021 – NIKE, Inc. (NYSE: NKE) today released financial results for its fourth quarter of fiscal 2021 and its fiscal year ended May 31, 2021
- Fourth quarter reported revenue was $ 12.3 billion, up 96% from a year ago and 21% from the fourth quarter of 2019.
- Reported revenues for the entire year increased 19% to $ 44.5 billion.
- NIKE Direct sales in the fourth quarter increased 73% to $ 4.5 billion.
- Gross margin for the fourth quarter increased 850 basis points to 45.8 percent.
- Diluted earnings per share for the fourth quarter was $ 0.93 and for the full year $ 3.56.
“NIKE’s strong results this quarter and full year demonstrate NIKE’s unique competitive advantage and its close connection to consumers around the world,” said John Donahoe, President and CEO of NIKE, Inc. “ FY21 was a pivotal year for NIKE as we brought our Strategy to Drive Consumers Directly to the Market. Building on our momentum, we continue to invest in innovation and digital leadership to lay the foundation for NIKE’s long-term growth. *
Our fourth quarter revenue growth was driven by higher wholesale shipments due to the annualization of physical store closures related to COVID-19 in the previous year in North America, in the EMEA region and in the APLA. With the reopening of physical retail, NIKE Brand Digital continued to experience strong revenue growth of 41% year over year and 147% year over year fourth quarter 2019. North America posted record revenues, up 141% on a reported basis for the fourth quarter. , up 29% from the fourth quarter of 2019, including an increase in wholesale revenue due to shipping delays compared to the previous quarter. With the reopening of markets and the return of sport, digital growth in North America has remained strong, increasing 54% year-over-year and 177% year-over-year.
Fourth-quarter EMEA reported revenue increased 124%, up 21% from the fourth quarter of 2019, despite temporary store closures related to COVID-19 throughout the quarter. With physical retail having been temporarily closed, EMEA Digital’s fourth quarter sales were up 40%, or 170%, from the fourth quarter of 2019. Today, approximately 99% of stores in the EMEA region are open or operate at reduced hours.
Our NIKE, Inc. annual revenues increased 19% on a reported basis or 14% from fiscal 2019, reflecting growth in all geographies and Converse, including seven consecutive years of double-digit growth, currency neutral ** for our Big China Business.
“The NIKE brand dynamics are a testament to our genuine relationships with consumers, our digital strength and our continued operational execution,” said Matt Friend, executive vice president and chief financial officer of NIKE, Inc. “As we move forward In our consumer-centric digital transformation, we are building a new financial model that will continue to fuel long-term, sustainable and profitable growth for NIKE. “*