Nike: Q1 sales up 4% at $12.7bn

(CercleFinance.com) - Nike has released announced its Q1 results (period ended 31 August 2022).
Q1 sales reached 12.7 billion dollars, up 4% y-o-y, and up 10% on a currency-neutral basis.

This growth was largely thanks to Nike Direct revenue, which reached 5.1 billion dollars, up 8% as reported and up 14% on a currency-neutral basis.

Digital sales for the Nike brand increased 16% as reported, or 23% on a currency-neutral basis, driven by 46% growth in EMEA.

However, its gross margin decreased 220 basis points to 44.3%.

Diluted EPS was 0.93 dollar over the quarter, down 20%.



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