Summary by Moomoo AI
Nike, Inc. reported a slight increase in revenues for fiscal 2024, reaching $51.4 billion compared to $51.2 billion in fiscal 2023. The company's NIKE Direct revenues grew by 1% to $21.5 billion, representing approximately 44% of total NIKE Brand revenues. Gross margin improved by 110 basis points to 44.6%, attributed to strategic pricing actions and reduced ocean freight rates and logistics costs. Net income for the year rose to $5.7 billion, a 12% increase from the previous year's $5.07 billion, with diluted earnings per share up by 15% to $3.73. Nike's share repurchase program saw the company buy back 84.9 million shares at an average price of $106.65 per share, totaling approximately $9.1 billion. In terms of business development, Nike continues to focus on innovation, consumer connections, and digital experiences. The company is investing...Show More
