NIKE REPORTS STRONG FISCAL 2016 EARNINGS
Oregon-based footwear and athletic apparel giant Nike, Inc. has reported fiscal 2016 financial results for its fourth quarter and full year ended May 31, 2016.
Diluted earnings per share for the quarter were $0.49, which was flat as compared to 2015, while fiscal 2016 diluted earnings per share rose 17 percent to $2.16. Fourth quarter revenues were up 6 percent to $8.2 billion, while fiscal 2016 revenues also climbed 6 percent to $32.4 billion.
For the fourth quarter, revenues for the Nike Brand were $7.7 billion, up 8 percent; while revenues for Converse were $513 million, up 18 percent. For fiscal 2016, revenues for the Nike Brand were $30.5 billion, up 13 percent; while revenues for Converse were $2 billion, up 2 percent.
“Our consistent growth is fueled by innovation, which is why fiscal 2016 was such a breakthrough year for Nike in everything we do,” said Mark Parker, president and CEO, Nike, Inc. “From product to manufacturing to how we serve our consumers – more personally and at scale – we’ve raised the bar of what’s possible. It’s a great time to be in sports, and the Nike Brand has never been stronger. Fueled by our unrivaled roster of athletes, fiscal 2017’s calendar of sport moments promises to build on our business momentum and inspire consumers.”
