Nike Inc. said Wednesday its fourth-quarter net income fell more than 30 percent, eroded by a 16 percent decline in worldwide apparel sales and unfavorable currency fluctuation.
In the three months ended May 31, the Beaverton, Ore.-based athletic footwear and apparel giant recorded a 30.4 percent decline in net income to $341.4 million, or 70 cents a diluted share, from $490.5 million, or 98 cents a share, a year ago. Excluding costs for restructuring and other charges, earnings per share totaled 99 cents in the quarter, 3 cents above the consensus estimate reported by Yahoo Finance.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"