Skip to main content
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Nike Exceeds Profit Estimates on New Products and Athleisure Trend

Nike Inc.’s fourth-quarter profit topped analysts’ estimates, helped by new product releases and strong sales growth in North America, its largest market.
By
  • Bloomberg

BEAVERTON, United States — Nike Inc.'s fourth-quarter profit topped analysts' estimates, helped by new product releases and strong sales growth in North America, its largest market.

Net income rose to $865 million, or 98 cents a share, from $698 million, or 78 cents, a year earlier, the Beaverton, Oregon-based company said Thursday in a statement. Analysts had estimated about 83 cents on average, according to data compiled by Bloomberg.

Nike, the world’s largest sporting-goods maker, has fueled growth by investing in innovation and introducing scores of new products each year. The company also has benefited from fashion trends shifting toward casual and comfort -- what’s been dubbed “athleisure.”

"Our consistent growth is fueled by our connection to the consumer and our ability to deliver innovation at an unprecedented pace and scale," Chief Executive Officer Mark Parker said in the statement.

ADVERTISEMENT

Nike shares rose 2.7 percent to $108.11 in late trading after the results were released.

Worldwide futures orders were up 13 percent, excluding the effects of foreign-currency exchange-rate fluctuations. Analysts estimated a 10.4 percent gain on average, according to data collected by Consensus Metrix. The measure is closely watched because investors view it as a proxy for future sales.

By Matt Townsend; editors: Nick Turner, Leslie Patton.

© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

More from Financial Markets
A financial lens on the fast-changing fashion sector, including markets, investors and deals.

The Best of BoF 2023: Diversity’s Litmus Test

In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.


The Year Ahead: The Future of Fashion Deal-Making

For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.


The Investment Giant Behind Some of Fashion’s Biggest Deals

L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.


view more

Subscribe to the BoF Daily Digest

The essential daily round-up of fashion news, analysis, and breaking news alerts.

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
BoF Professional - How to Turn Data Into Meaningful Customer Connections
© 2024 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions, Privacy Policy, Cookie Policy and Accessibility Statement.
BoF Professional - How to Turn Data Into Meaningful Customer Connections