Nike Sees Increased Revenues, Decline in Net Income for Fiscal Year Ending 31 May 2016
Nike’s net income declined 2% fron 846 million dollars in the final quarter of its fiscal year that ended May 31st, although revenues increased 6% for a total of 8.244 billion dollars.
Wholesale revenue for the year grew 3% for a total of 22.577 million dollars, while direct-to-consumer revenues reached 24.3% of the total, up 18% at 7.8 billion. Online sales grew 51 %, while retail sales in the company’s 919 stores increased by 10%.
This story first appeared in the blog, The Sport Intern. The editor is Karl-Heinz Huba of Lorsch, Germany. He can be reached at ISMG@aol.com. The article is reprinted here with permission of Huba.