But more importantly, we saw tremendous momentum in the measures of success that matter most to create scale and drive long-term profitability. And so, what we’re going to be focused on over the next 90 to 120 days is continuing to clean our inventory, continuing to create those consumer connections like we’ve been talking about and really focus on our OneNike marketplace strategy, exiting undifferentiated wholesale distribution and focusing on the opportunities that we see for NIKE Direct and our strategic partners and we believe that this strategy will fuel growth and profitability in line with the long-term financial model that we’ve previously communicated. And by doing that, we should be able to also drive additional operating margin expansion. Thank you. Express Lane drove revenue growth and generated higher full price realization in the quarter. First, by leveraging data to enhance membership, personalization and consumer-oriented O2O services across the marketplace, we can drive greater inventory efficiency and unlock accelerated growth in key opportunities like women’s and apparel. Oppenheimer analyst B. Nagel anticipates that the footwear maker will post earnings of $0.39 per share for the quarter. Over the past quarter, we continued to prove this out across four key areas. Hello, everyone. Nike's fiscal second-quarter earnings and sales topped analysts' expectations, as the sneaker maker reported strong digital growth. Download the PDF of the FY21 Q1 Press Release and Schedules. Thanks, Matt. First quarter diluted earnings per share was $0.95, up 10% versus prior year. Got you. Nike shares soared 13% in extended trading Tuesday as the company reported an 82% increase in online sales and offered up an outlook that calls for demand to grow through the holidays.The company has used the coronavirus pandemic as an opportunity to accelerate its digital business, and its women's apparel division grew nearly 200%. Demand on the Nike app grew 150% in Q1, highlighting the continued shift to mobile experiences. As always, it starts with product innovation. In EMEA, Q1 revenue grew 5% on a currency neutral basis and EBIT grew 14% on a reported basis. So, we got over a 1 billion units at 99.99% readability, which enables us to see our inventory now across all of our factory stores. Now, I would like to turn the call over to Andy Muir, VP, Investor Relations. We had many product highlights this quarter. As I mentioned, our innovation pipeline and cadence has not slowed even during this uncertain environment. However, Q1 did benefit from about 55 basis points of one-time accrual reversals that we had incurred in Q4. The future for NIKE is bright. Fourth and finally, digital is fueling how we create the future of retail. With that, let’s turn to our reported operating segments. • First quarter reported revenues were $10.6 billion, down 1 percent on a reported basis and flat Our innovation pipeline demonstrates both our strength as well as our endurance. This presentation may contain “forward-looking” statements within the meaning of Section 27A of the Securities Act … Our belief in innovation is embedded in everything we do. Any opinion expressed in the transcript does not necessarily reflect the views of AlphaStreet, Inc. © COPYRIGHT 2020, AlphaStreet, Inc. All rights reserved. Second, in a normalized period, we earn roughly 10 points higher gross margin rate on our digital revenue versus wholesale. We have continued our unmatched pace of launching innovative product, generating a continuous flow of brand moments that connect with consumers and open groundbreaking retail concepts as we unlock significant long-term opportunity in a very dynamic environment. These include member engagements and owned digital market share. ** The marked paragraphs contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. And last but not least, our sustainable footwear platform known as Space Hippie saw amazing sell-through in our highest heat innovation launch ever. 22 Sep, 2020 Length: 00:10 Download Embed Share. Our next question is from Kimberly Greenberger with Morgan Stanley. BEAVERTON, Ore., Sept. 22, 2020 — NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its first quarter ended August 31, 2020. Sure, Omar. Read the full transcript here. View original. NIKE has a strong track record of investing to fuel growth and consistently increasing returns to shareholders including 18 consecutive years of increasing dividend payouts. We now expect SG&A will be flat versus prior year, including approximately $200 million to $250 million of non-recurring execution costs incurred in the first half associated with simplifying our organizational structure. Great, thank you so much. Estimates: Nike earnings per share are seen collapsing 97% to 2 cents, according to Zacks Investment Research.Revenue is seen … Most notably during the pandemic, we’ve seen an acceleration of share gains in US women’s and apparel, two areas of strategic focus. This transcript is provided as is without express or implied warranties of any kind. Yes, Michael. These advantages allow us to stay aggressive, and it’s why I believe that no company is better positioned to emerge from this period than NIKE. We’re getting stronger in the places that matter most. Our revenue trend is improving with Q1 flat to prior year on a constant currency basis. NIKE is poised to emerge from the current environment stronger and better positioned, with a sharper focus, a clearer view of our brand’s long-term future and with a team that is energized to compete and to win. Operating overhead expense decreased 1 percent to $2.3 billion as lower travel and related expenses were slightly offset by restructuring costs and continued investments in digital capabilities, both of which are associated with the Consumer Direct Acceleration, the next digitally empowered phase of our strategy. The conference call will be broadcast live via the Internet and can be accessed at http://investors.nike.com. Q1 2021 Earnings Presentation November 5, 2020 . Nike jumped as much as 12% on Wednesday after the sportswear giant trounced expectations for fiscal first-quarter earnings and sales. Gross margin decreased 90 basis points in Q1 versus the prior year as a result of impacts from COVID-19, including higher promotions to reduce excess inventory across the marketplace and higher supply chain costs. Revenues for the NIKE Brand were $10.0 billion, flat to prior year on a currency-neutral basis driven by double-digit growth in NIKE Direct, as well as growth in Sportswear and the Jordan Brand, offset by declines in our wholesale business. Neither the information nor any opinion expressed in this transcript constitutes a solicitation of the purchase or sale of securities or commodities. Another example is how our organizational restructuring will simplify the way we work, eliminate duplication and redundancy and realign our resources to focus on our biggest growth opportunities. Nike Inc (NYSE:NKE) – Investment analysts at Wedbush issued their Q1 2021 EPS estimates for Nike in a report issued on Friday, June 12th. We look forward to speaking with you next quarter. Our athletes are doing the same. And the nice thing about that is, in almost every case, you can define measurable benefits, whether it’s enhanced growth, deeper connection with consumers, or improved efficiency with automation and use of — intelligent use of technology. New innovation continues to resonate with our consumers, with key innovation platforms becoming an even bigger part of our mix in Q1. I could not be more proud of them and we can’t wait to show you what we’re going to do next. 22 mins When Its Merger With EV Maker Canoo Closes, HCAC Stock Will Fly InvestorPlace 24 mins Dollar Thumped Seeking Alpha We’re accelerating what probably would have happened in the retail environment on a — naturally in the next four years to five years, we’re going to try to drive it for our business in the next one years to two years. Let me take a few minutes to walk through each of these points. Act 0.78 Est 0.59 Q3 2020 Nike Inc Earnings Call 03/24/2020 05:00 PM (EDT) NKE. GAAP net income was $1.23 billion, or $4.55 per share, compared to, © 2020 AlphaStreet Inc. All Rights Reserved, Construction Partners, Inc. (ROAD) Q4 2020 Earnings Call Transcript, Canadian Imperial Bank of Commerce (CM) Q4 2020 Earnings Call Transcript, Kroger Co. (KR) Q3 2020 Earnings Call Transcript, Earnings calendar for the week of December 21, Infographic: Highlights of Darden Restaurants’ (DRI) Q2 2021 earnings report, Key highlights from FedEx (FDX) Q2 2021 earnings results. Your line is open. Sure, Kimberly. Q1 2021 Nike, Inc. Earnings Conference call 09/22/2020 05:00 PM (EDT) NKE. At the same time, we are managing our business to deliver financial results that will set a strong foundation for growth and profitability in fiscal year ’22 and beyond. “NIKE is recovering faster based on accelerating brand momentum and digital growth, as well as our relentless focus on normalizing marketplace supply and demand,” said Matt Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “We continue to drive investment in capabilities that will fuel our consumer-led digital transformation, catalyzing long-term growth and profitability for NIKE.”**. Does that continue and does it cascade down to college and high school and youth? We have got to move deeper into the funnel, [indecipherable] moving from attracting and acquiring new members to retaining members, knowing those members and driving more engagement and frequency of purchase within our existing member base. Thanks. After all, we know a consumer who connects with us on two or more platforms has a lifetime value that’s 4 times higher than those who don’t. And thanks everyone for joining us today. Thank you, Matt. And in particular, I’m focused on how we will leverage consumer data and insights in our digital ecosystem to understand and serve consumers better and ultimately increase our competitive advantage. Following the news release, NIKE management will host a conference call beginning at 2:00 p.m. PT to review results. We are accelerating investments in capabilities and services that will create value for the consumer, while simultaneously accelerating productivity. And so, we now have a three — a clear three-year roadmap that — to bring technology to every element of our operation and every element of our end-to-end business. Nike Inc (NYSE:NKE) – Analysts at Oppenheimer issued their Q1 2021 earnings per share estimates for Nike in a report released on Monday, August 17th. Nike Inc. (NYSE: NKE) Q1 2021 earnings call dated Sep. 22, 2020 Corporate Participants: Andy Muir -- Vice President of Investor Relations John J. Donahoe II First, NIKE is recovering faster, fueled by brand momentum and our relentless focus on execution. Greater China revenue increased by 6 percent on a reported basis and 8 percent on a currency-neutral basis, led by digital and NIKE Factory Stores. The response to this best-in-class yoga collection has been amazing and is already driving incredible growth for our women’s yoga business. John and Matt, you both talked about some of the examples of the digital investments that you’ve made so far, the app ecosystem, the omnichannel fulfillment capabilities and RFID. Revenues rose 19% year-over-year to $20.6 billion. Despite varied recovery curves and macroeconomic dynamics, our geographies have some key themes in common in Q1. NIKE's (NKE) first-quarter fiscal 2021 results beat expectations on a robust digital showdown as well as strength across all regions. Revenues for Converse were $563 million, up 2 percent on a currency-neutral basis, mainly driven by strong demand in Europe and in digital, globally. These financial results offer clear evidence of a faster marketplace recovery for NIKE, fueled by consumer demand for all our brands. Eliud Kipchoge broke the two-hour barrier in a prototype of the Air Zoom Alphafly NEXT%. So, on the financial algorithm and as we think through the accelerated shift to digital, and I think you had said within the guardrails of SG&A that you’ve outlined, are there any offsetting headwinds constraining your ability to potentially outpace your outlined high single-digit top line and mid-teens earnings growth rates as we think moving forward? Despite the uncertainty regarding the impacts of the coronavirus outbreak, the company updated its guidance for fiscal 2021 based on the robust first-quarter results. We will continue to both accelerate investment against our digital transformation and prudently manage other spending. Just in Q1, we launched new stores in Guangzhou, China; Seoul, Los Angeles and Paris, with two new doors in New York City coming in the next few weeks. NIKE's (NKE) first-quarter fiscal 2021 results beat expectations on a robust digital showdown as well as strength across all regions. NIKE Inc. NKE swings to post better-than-expected top and bottom lines for first-quarter fiscal 2021 on robust growth in digital business despite soft retail traffic and wholesale revenues. This is the first quarter since the start of the pandemic, where our retail was essentially opened. Nike beat analysts' revenue expectations for its first fiscal quarter by more than $1 billion Tuesday, signaling the sportswear giant is making a healthy comeback from the pandemic. This is how NIKE leads. Much of the gains were fueled by 82% growth in online sales. Nearly all of the NIKE-owned physical doors were open during the quarter across North America, EMEA and Greater China with approximately 90 percent of doors open in APLA. I think there’s probably three key drivers of operating margin improvement that we see from leveraging scale of our digital business. Our new regional service center near Los Angeles went live this month and uses predictive modeling to anticipate consumer demand and ensure the product our consumers want is available and will arrive within one to two days. Following their prepared remarks, we will take your questions. Earnings. And then maybe talk about how these benefits materialize in the model in coming quarters and years, what are some of the key metrics we should watch for the progress on that? Thanks for your cooperation on this. And as always, we connect with consumers through the power of sport. Our size, our incredible product, our brand strength and infinity, the direct consumer relationships we deepen each day and our ability to create seamless and differentiated shopping experiences, that is how we drive continued separation. Revenue of $10.59 billion beat the $9.11 billion estimate. And, of course, we remain focused on increasing member engagement to unlock value for both NIKE and our consumers. Q1 FY20Q1 FY21 Q1 Fiscal 2021 Financial Highlights 4 Q1 FY20 Q1 FY21 Q1 FY21 $3,496M i1% i1% Organic Constant Currency (a) $3,471M $745M $781M $1.34 $1.41 h5% (a) For a reconciliation of these non-GAAP financial metrics to their closest comparable GAAP metrics see our Q1 fiscal 2021 earnings release available at investors.adp.com. The accelerated consumer shift toward digital is here to stay; the definition of sport to include all facets of health, wellness and fitness and it’s the deeply connected authentic brands with scale that will win. Thank you, operator. While we strive to produce the best transcripts, it may contain misspellings and other inaccuracies. At NIKE, innovation is a systemic approach and it’s how we extend our lead. Good afternoon, everyone. Hey, Matt. Personally, one of the things I am most thrilled about is the return to organized sport. Tags: nike market cents. But we continue to believe that digital will lead the way of growth for Greater China. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http:// investors.nike.com. We will use data at to stay a step ahead and help us create a better product as consumer insights power our business end-to-end towards even greater growth. And so, in particular, the way we think about it is consumer-facing digital, right, demand sensing, little things. Is it really just a matter of scale? NIKE Direct grew over 20% with more balanced channel growth as digital grew nearly 30% and NIKE owned stores were up double-digits fueled by key consumer moments like 6/18, where NIKE was the number one sports brand on Tmall. Welcome to NIKE, Inc.’s Fiscal 2021 First Quarter Conference Call. In the event you have additional questions that are not covered by others, please feel free to requeue and we will do our best to come back to you. Nike Earnings. So, we are seeing a benefit from increased digital penetration on our margins within those two geographies. Nike Shares Soar To Record High As Digital Sales Surge Leads Q1 Earnings Beat. This is our vision for the marketplace, a digitally connected experience, where membership is a true differentiator. NIKE’s digital transformation strategy is not easily replicated. For example, we’re seeing almost 200% growth in demand for our Nike commerce app, with triple-digit growth in monthly active users. Let’s just take a look at a few. Clorox posted Street-beating earnings for its fiscal first ... Clorox Smashes Q1 Earnings Forecast, Boosts 2021 ... SolarWinds, FedEx, Coinbase, Nike - 5 Things You Must Know Friday. With the first quarter now complete, I will update our full year financial outlook. We will achieve this level of service at a lower fulfillment cost over time. And third, our consumer-led digital transformation is clearly a catalyst for long-term revenue and earnings growth. 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