NIKE Inc has reported financial results for its fiscal 2015 second quarter ended 30 November 2014. Strong consumer demand drove revenue growth across the company’s portfolio.
“Our strong second quarter results once again demonstrate Nike is a growth company,” said Mark Parker, President and CEO of NIKE. “The power of our portfolio continues to unlock growth, as we keep a laser focus on our biggest opportunities. The breadth and depth of that portfolio has helped us consistently deliver strong results – quarter after quarter, year after year.”
Revenues for NIKE Inc increased 15% year on year to US$7.4 billion, up 18% on a currency neutral basis. Revenues for the NIKE Brand were US$7 billion, up 17% on a currency neutral basis, with growth in every product type, geography and key category, except NIKE’s Golf division.
Diluted earnings per share grew faster than revenue, up 25% year, primarily due to gross margin expansion and a lower average share count, which ‘more than offset higher SG&A (Selling, General and Administrative Expenses) investments in NIKE brands and business capabilities.’
During the second quarter, NIKE repurchased a total of 5.1 million shares for approximately US$425 million as part of the four-year, US$8 billion program approved by the Board of Directors in September 2012.
As of the end of the second quarter, a total of 67.6 million shares had been repurchased under this program for US$4.7 billion, an average cost of approximately US$68.96 per share.
As of the end of the quarter, worldwide futures orders for NIKE Brand athletic footwear and apparel scheduled for delivery from December 2014 through April 2015 were 7% higher than orders reported for the same period last year. Excluding currency changes, reported orders would have increased 11%.
