Nike Report $51.2 Billion Annual Revenue for FY23 Results
continue to surge ahead with strong financial results as shown in their newly released . The top-line figure is a massive $51.2 billion in revenue for the entire financial year, of which the fourth quarter contributed $12.8 billion towards.
‘Nike’s strong results make clear that our strategy is working,’ said John Donahoe, Nike president and CEO. ‘FY23 was a milestone year for NIKE as our unique advantages continue to drive competitive separation. Our investment in innovation and our digital leadership are fuelling broad-based growth across our portfolio of brands, as we create value by serving the future of sport.’
The year-end revenue is a 10 per cent increase compared to FY22, while Q4’s comparison for the same period was more modest yet significant at 5 per cent. The Nike Direct business strategy also demonstrated continued growth, with its $5.5 billion contribution to total Q4 revenue up 15 per cent against the same period last year.
Matthew Friend, executive vice president and chief financial officer, said, ‘FY23 demonstrated the power of Nike’s portfolio to fuel strong growth, year after year. We finished the year with mid-teens currency-neutral revenue growth and a healthy marketplace – setting the foundation for sustainable, profitable growth in FY24 and beyond.’
Nike enter the financial year with some recent . Among those are Heidi O’Neill as the new President of Consumer, Product and Brand. Craig Williams became the new President of Geographies and Marketplace. Sarah Mensah, the previous VP/GM of Nike’s North America region, took over Williams’ role, becoming Jordan Brand’s first female president.