Nike: Q4 profit down 5% at $1.4bn
(CercleFinance.com) - On Monday evening Nike reported a 5% drop in net profit to 1.
4 billion dollars for Q4 2021-22, i.e. EPS of 0.90 dollar, as well as a gross margin that is down 80 bp at 45%.
The sporting goods supplier's revenues fell 1% to 12.2 billion dollars, although at constant exchange rates, they rose by 3%, in particular driven by a 7% growth in Nike Direct sales, thanks to regions outside North America and Greater China.
In the two years that Nike has been accelerating its direct-to-consumer sales, the group is in a better position than ever to sustain long-term growth while serving consumers directly at scale, it said.
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