Nike Inc. posted another strong quarter, as earnings gained 12 percent on robust international growth.
The fourth-quarter numbers beat analysts' forecasts, but more modest U.S. growth lowered the stock price of the athleticwear giant in after-hours trading.
For the three months ended May 31, net income for the Beaverton, Ore.-based firm climbed to $490.5 million, or 98 cents a diluted share, from $437.9 million, or 86 cents, in the same year-ago period.
Revenues for the quarter increased 16 percent to $5.1 billion compared with $4.4 billion the previous year.
For fiscal 2008, earnings jumped 26 percent to $1.9 billion, or $3.74 a diluted share, from $1.5 billion, or $2.93, in fiscal 2007. Sales for the year grew 14 percent to $18.6 billion from $16.3 billion last year.
Futures orders from June 2008 to November 2008 increased 11 percent to $8.8 billion, the company's 30th consecutive quarter that futures increased.
The active giant, which is outfitting athletes at the Summer Olympics in Beijing, reported growth across all regions, with revenues rising 39 percent in Asia and 19 percent in Europe. In addition, the weakness of the dollar propelled growth for the business, which is about two-thirds global.
Several regions, including China and the Americas, passed $1 billion in revenues this year. "It's a testament to the potential Nike has in emerging markets," said Mark Parker, Nike Inc. president and chief executive officer.
However, the company said the U.S. saw more modest growth of 4 percent to $1.7 billion for the quarter. Unlike the global markets, which benefited from favorable currency exchange rates, Nike's largest and most mature market continued its trend of more paced growth for the year and quarter, and futures orders were flat.
The company's "other business" sector, which includes Converse Inc., Nike Golf, Cole Haan and Umbro, grew 15 percent to $749.5 million for the fourth quarter. According to Parker, on an after-market earnings call, "the big story continues to be Converse," which experienced 29 percent revenue growth to $2 billion in wholesale revenues for the year.
"Of course, the Nike brand will continue to be the strongest brand in our portfolio," Parker said. "Every region and category showed growth."Nike released its numbers after the stock market closed, and by 6 p.m., the stock price was down 6 percent to $62.15.
“What he has done at Vuitton is really exceptional,” said @gameofthrones’ actress Gwendoline Christie on @mrkimjones’ final show for @louisvuitton. “He has rebooted luxury in terms of making it commercial, viable and contemporary. And most importantly artistic. He has never compromised his artistic vision for the sake of commodity.” (📷: @zefashioninsider)
After seeing a demand for men’s wear from its customers, British contemporary women’s wear label @ariesarise has added a men’s wear component and will launch a unisex collection with @mrporterlive. The 20-piece collection includes jackets, denim, logo T-shirts and more with deconstructed ‘90s vibes. Set to launch on January 18, you can shop the pieces on Aries’ website and on mrporter.com. #wwdfashion
“And so spending so much time with a character who thinks like that, inevitability you try and analyze yourself and go back and think about your own demons and dark chapters that you had in your life,” says @thedanielbruhl of his role in TNT’s “The Alienist.” The show, set in the Gilded Age of New York, also stars Dakota Fanning and Luke Evans. Head to WWD.com to read about how 39-year-old Brühl prepared for the role and why he thinks the show is so relevant to today #wwdeye ( 📷: @Eriktanner)
Now that Celine Dion’s collection has topped $10 million in sales, the pop superstar, fashion icon and newly-minted industry player is eyeing growth in Asia. Read the full report by @tiffanyap, link in bio. #wwdnews #celinedion
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
Among the familiar faces at @off____white’s show was a surprise figure: Japanese artist @takashipom, pictured here on Wednesday morning. Other show-goers included @jerrylorenzo, who spoke about his upcoming project: a @nike collaboration for back to school, with designs inspired by his childhood on the West Coast. Sitting in the front row were Future, Don Crawley, @miguel and more. See the rest of the photos on WWD.com #wwdeye (📷: Stephane Feugere)
According to @laurentsai, former “Terrace House: Aloha State” cast member, she didn’t know she was auditioning for the Japanese version of “Real World.” “I was telling a couple of my friends and someone’s like, ‘That sounds a lot like Terrace House.’ I was like, ’No it can’t be.’” Turns out, it was. But Tsai isn’t just a reality star — she’s an illustrator who has worked with Starbucks Japan and most recently, she’s dipping her toes into the fashion world. Head to WWD.com to read about her time on the show, modeling and her art. #wwdeye (📷: @danieldorsa)
More changes are coming to New York Fashion Week: Beginning with the spring 2019 collection, @alexanderwangny will move his New York show to June from September, adopting a biannual schedule with collections shown in June and December. Additionally, the @cfda is planning for an official summer/winter fashion season taking place as soon as June and December 2018. Read more about the upcoming changes on WWD.com. #wwdnews #wwdfashion (📷: @slovekinpics)