Nike Is Getting More Money Than Ever Right Now
After this fiscal year's first quarter, we saw some stock market results that gave us an idea of the amount that the Swoosh was stunting on its competitors. brought us the news that Nike's brand loyalty was paramount, and showed us that Nike's market share was streaks ahead of the competition, but now that the fiscal year of 2015 is over, we're seeing just how much that stunting earned them.
Nike, Inc. has opened the books, revealing that its NYSE:NKE shares are killing it. President and CEO of Nike, Inc., Mark Parker is understandably chuffed, saying, “Our consistent growth is fueled by our connection to the consumer and our ability to deliver innovation at an unprecedented pace and scale. At no time in our history has the growth potential been greater for Nike.”
The report they released is full of financial jargon, like 'expanded basis points', weighted averages', and 'diluted earnings per share', so we delved in to give you some coherent highlights. Revenues for Nike, Inc. (Nike, Jordan, Converse, et al.) across the board went up 4.5 billion bangers to $30.6B, while Nike Brand alone went up $3.5B to $28.7B. Subsidiary Converse, also jumped 21% to $2.0B. That's a lotta love for the Chucks!
The jump in profits is so hefty that Nike has been reinvesting in itself like mad. In the last quarter, they repurchased 6.8 million shares, for $73.55 a pop, as part of a larger plan to buy back $8.0B in shares.
With the numbers on the boards, it's evident that if you've been thinking of investing in Nike in a way other than stocking up on grails, then you should take their advice – Just Do It. (ed's note: writer has almost no share market nous and will not be held responsible for your portfolio choices. Nike a solid growth stock, but if you want money now, enter the lottery – win that all the time!)