Q4 2024 Nike Inc Earnings Call Transcript
Key Points
- Revenue grew approximately 1% on a currency-neutral basis for the full fiscal year.
- Earnings per share increased by 15% year-over-year.
- Performance products saw double-digit growth in Q4, particularly in basketball, fitness, and running.
- Gross margins expanded by 110 basis points to 44.7%, driven by strategic pricing actions and improved supply chain efficiency.
- The company is accelerating its innovation pipeline, with new products like the Pegasus 41 and Air Max Dn showing strong early results.
- Q4 revenue was flat, with declines in lifestyle products offsetting gains in performance products.
- Nike Digital declined by 10% in Q4, impacted by softer traffic and higher promotions.
- Foreign exchange headwinds worsened, creating additional revenue challenges.
- Greater China saw a significant decline in brick-and-mortar traffic, impacting overall performance.
- The company has reduced its guidance for fiscal '25, expecting reported revenue to be down mid-single digits.
Good afternoon, everyone. Welcome to NIKE, Inc.'s fiscal 2024 fourth-quarter conference call. For those who want to reference today's press release, you'll find it at investors.NIKE.com.
Leading today's call is Paul Trussell, VP of Corporate Finance and Treasurer. I would now like to turn the call over to Paul Trussell.
Thank you, operator. Hello, everyone, and thank you for joining us today to discuss NIKE, Inc.'s fiscal 2024 fourth-quarter results. Joining us on today's call will be NIKE, Inc., President and CEO, John Donahoe; and our CFO, Matt Friend.
Before we begin, let me remind you that participants on this call will make forward-looking statements based on current expectations, and those statements are subject to certain risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed in NIKE's reports filed with the SEC.
In addition, participants may discuss non-GAAP financial measures and non
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