Home Economics Nike, Inc. reports fiscal 2018 second quarter results

Nike, Inc. reports fiscal 2018 second quarter results

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Nike, Inc. reports fiscal year 2018 results
Nike, Inc. reports fiscal year 2018 results

On December 21, 2017 the NIKE, Inc. reported the financial results for its fiscal 2018 second quarter that ended on November 30, 2017. For the quarter, revenue growth was driven by international geographies and continued strength in NIKE Direct, which was partly offset by an expected decline in North America wholesale revenue.

Diluted earnings per share were $0.46, down 8% compared to the same period last year due primarily to a decline in gross margin and higher selling and administrative expense, which offset solid revenue growth, a lower tax rate and a lower average share count.

“This quarter, led by our Consumer Direct Offense, we accelerated international growth and built underlying momentum in our domestic business,” said Mark Parker, Chairman, President and CEO, NIKE, Inc. “For the back half of the fiscal year, NIKE’s innovation line-up is as strong as it’s ever been and we’ll continue to actively shape retail through new differentiated experiences.”

While according to the report the revenues for NIKE, Inc. increased 5% to $8.6 billion, up 3% on a currency-neutral basis. To review the report in detail click here.