BEAVERTON, United States — Nike Inc. projected that sales gains will accelerate in the next five years, with revenue hitting $50 billion in 2020 as its women's business doubles.

Online revenue also will drive growth, surging to $7 billion in five years from about $1 billion, the world’s largest sporting-goods company said Wednesday during a presentation to analysts. The total revenue forecast implies annual growth rate of about 10.3 percent. Revenue rose 10.1 percent in the fiscal year through May 31 and 9.8 percent the prior year.

The forecasts continue Nike’s practice of laying out ambitious projections at the investor days that it holds every two years. In 2013, the company said annual sales would reach $36 billion by 2017, which meant a growth rate of 9.2 percent. Analysts, on average, expect revenue of $35.6 billion that year.

"Nike is a growth company, and we've never been more confident in that pace of success," Chief Executive Officer Mark Parker said during the presentation.

Nike rose 0.2 percent to $126.06 at 3:15 p.m. in New York. The shares gained 31 percent this year through Tuesday, compared with a 2.7 percent drop for the Standard & Poor’s 500 Index.

Nike’s Upswing

Nike has been on the upswing since the global recession, with the stock tripling. Successes include taking market share from Adidas AG in soccer and increasing its presence in China and South America. The company has also benefited from fashion shifting toward the athletic and casual. The so-called “athleisure” trend has made dressy sweatpants popular and boosted the prospects of an entire industry — from yogawear chain Lululemon Athletica Inc. to sneaker retailer Foot Locker Inc.

Nike expects sales of its women’s business may grow to more than $11 billion by 2020 from $5.7 billion currently. That growth will include selling more basketball-related footwear and apparel through the Jordan brand, which so far has focused on men, Parker said.

Nike also announced the creation of a 125,000-square-foot innovation lab focused on burgeoning manufacturing processes like 3-D printing. The company has been talking for some time about rethinking how it constructs shoes. By making its production more automated, it could move some manufacturing out of Asia. Nike inked a partnership with DreamWorks Animation SKG as well to help it build a three-dimensional product design system.

The company is also in the middle of a management transition. Co-founder Phil Knight will leave the board next year. Knight, who founded the company in 1964 at age 26, endorsed Parker, a Nike lifer, to replace him as chairman.

In recent years, Parker has sold off units like Umbro and Cole Haan, so the company could dedicate more resources to the Nike brand. That’s paid off as its namesake line has only gotten stronger.

By Matt Townsend; editors: Nick Turner, Kevin Orland.