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Nike, Inc. (NYSE: NKE) on Thursday reported a lower in earnings for the fourth quarter of 2023, when the sneaker large’s revenues elevated modestly.
Fourth-quarter web revenue was $1.03 billion or $0.66 per share, in comparison with $1.44 billion or $0.90 per share within the corresponding interval of fiscal 2022. The underside line was negatively impacted by a rise in working bills.
In the meantime, Could-quarter revenues moved up 5% from final yr to $12.83 billion. NIKE Direct gross sales had been up 15% from the prior-year quarter.
“FY23 demonstrated the ability of NIKE’s portfolio to gasoline sturdy progress, yr after yr. We completed the yr with mid-teens currency-neutral income progress and a wholesome market — setting the muse for sustainable, worthwhile progress in FY24 and past,” mentioned Matthew Buddy, Nike’s chief monetary officer.
Prior Efficiency
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