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NKE Nike

NIKE, Inc., based near Beaverton, Oregon, is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories.

Company profile

Ticker
NKE
Exchange
Website
CEO
John Donahoe
Employees
Incorporated
Location
Fiscal year end
Former names
NIKE INC
SEC CIK
Subsidiaries
NIKE European Operations Netherlands B.V. • NIKE Retail Services, Inc. • NIKE Sports (China) Co. Ltd. • NIKE USA, Inc. ...
IRS number
930584541

NKE stock data

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Calendar

20 Jul 21
28 Sep 21
31 May 22
Quarter (USD)
May 21 Feb 21 Nov 20 Aug 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
May 21 May 20 May 19 May 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Financial data from Nike earnings reports.

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
1 Sep 21 Chris L Abston NQSO Class B Common Stock Grant Acquire A No No 164.56 11,800 1.94M 11,800
5 Aug 21 Matthew Friend Class B Common Stock Sell Dispose S No Yes 171.5 3,546 608.14K 66,479.324
5 Aug 21 Campion Andrew Class B Common Stock Sell Dispose S No Yes 171.5 7,125 1.22M 98,739.291
3 Aug 21 Matthew Friend Class B Common Stock Sell Dispose S No Yes 170 43,000 7.31M 70,025.324
3 Aug 21 Matthew Friend Class B Common Stock Option exercise Acquire M No Yes 56.4 43,000 2.43M 113,025.324
3 Aug 21 Matthew Friend NQSO Class B Common Stock Option exercise Dispose M No No 56.4 43,000 2.43M 0
2 Aug 21 Donahoe John J Class B Common Stock Payment of exercise Dispose F No No 168.75 5,839 985.33K 252,880
1 Aug 21 Donahoe John J Class B Common Stock Grant Acquire A No No 0 25,875 0 258,719
1 Aug 21 Donahoe John J NQSO Class B Common Stock Grant Acquire A No No 167.51 152,839 25.6M 152,839

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

78.9% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 2181 2141 +1.9%
Opened positions 187 145 +29.0%
Closed positions 147 152 -3.3%
Increased positions 904 923 -2.1%
Reduced positions 803 770 +4.3%
13F shares
Current Prev Q Change
Total value 155.87B 134.72B +15.7%
Total shares 1.01B 1.01B -0.5%
Total puts 16.15M 13.12M +23.1%
Total calls 19.9M 15.63M +27.3%
Total put/call ratio 0.8 0.8 -3.3%
Largest owners
Shares Value Change
Vanguard 104.65M $16.17B +0.5%
BLK Blackrock 89.91M $13.89B -5.0%
STT State Street 55.27M $8.55B +0.4%
FMR 27.97M $4.32B -6.1%
BK Bank Of New York Mellon 25.93M $4.01B -3.2%
Alliancebernstein 23.08M $3.57B +15.2%
TROW T. Rowe Price 21.08M $3.26B -21.5%
Geode Capital Management 20.42M $3.15B +2.0%
NTRS Northern Trust 18.88M $2.92B -1.7%
MS Morgan Stanley 17.34M $2.68B +3.2%
Largest transactions
Shares Bought/sold Change
TROW T. Rowe Price 21.08M -5.78M -21.5%
Amundi Pioneer Asset Management 0 -4.86M EXIT
BLK Blackrock 89.91M -4.73M -5.0%
Amundi 3.98M +3.98M NEW
Parnassus Investments 3.58M +3.58M NEW
Jennison Associates 14.62M -3.08M -17.4%
Alliancebernstein 23.08M +3.05M +15.2%
HBCYF HSBC 5.23M +2.71M +107.8%
CS Credit Suisse 4.46M -2.16M -32.6%
FMR 27.97M -1.83M -6.1%

Financial report summary

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Risks
  • Special Note Regarding Forward-Looking Statements and Analyst Reports
  • Our financial condition and results of operations have been, and could in the future be, adversely affected by the coronavirus pandemic.
  • Global economic conditions could have a material adverse effect on our business, operating results and financial condition.
  • Our products, services and experiences face intense competition.
  • We may be adversely affected by the financial health of our customers.
  • Extreme weather conditions and natural disasters could negatively impact our operating results and financial condition.
  • Failure to maintain our reputation, brand image and culture could negatively impact our business.
  • Our business is affected by seasonality, which could result in fluctuations in our operating results.
  • If we are unable to anticipate consumer preferences and develop new products, we may not be able to maintain or increase our revenues and profits.
  • We rely on technical innovation and high-quality products to compete in the market for our products.
  • Failure to continue to obtain or maintain high-quality endorsers of our products could harm our business.
  • Failure to accurately forecast consumer demand could lead to excess inventories or inventory shortages, which could result in decreased operating margins, reduced cash flows and harm to our business.
  • Our NIKE Direct operations have required and will continue to require a substantial investment and commitment of resources and are subject to numerous risks and uncertainties.
  • If the technology-based systems that give our consumers the ability to shop or interact with us online do not function effectively, our operating results, as well as our ability to grow our digital commerce business globally or to retain our customer base, could be materially adversely affected.
  • We rely significantly on information technology to operate our business, including our supply chain and retail operations, and any failure, inadequacy or interruption of that technology could harm our ability to effectively operate our business.
  • We are subject to the risk our licensees may not generate expected sales or maintain the value of our brands.
  • Consolidation of retailers or concentration of retail market share among a few retailers may increase and concentrate our credit risk and impair our ability to sell products.
  • If one or more of our counterparty financial institutions default on their obligations to us or fail, we may incur significant losses.
  • We rely on a concentrated source base of contract manufacturers to supply a significant portion of our footwear products.
  • The market for prime real estate is competitive.
  • The success of our business depends, in part, on high-quality employees, including key personnel as well as our ability to maintain our workplace culture and values.
  • Our business operations and financial performance could be adversely affected by changes in our relationship with our workforce or changes to United States or foreign employment regulations.
  • Our international operations involve inherent risks which could result in harm to our business.
  • Our products are subject to risks associated with overseas sourcing, manufacturing and financing.
  • Our success depends on our global distribution facilities.
  • We are subject to a complex array of laws and regulations and litigation and other legal and regulatory proceedings, which could have an adverse effect on our business, financial condition and results of operations.
  • Changes to U.S. or other countries' trade policies and tariff and import/export regulations or our failure to comply with such regulations may have a material adverse effect on our reputation, business, financial condition and results of operations.
  • Failure to adequately protect or enforce our intellectual property rights could adversely affect our business.
  • We are subject to data security and privacy risks that could negatively affect our results, operations or reputation.
  • We could be subject to changes in tax rates, adoption of new tax laws, additional tax liabilities or increased volatility in our effective tax rate.
  • Failure of our contractors or our licensees' contractors to comply with our code of conduct, local laws and other standards could harm our business.
  • Our financial results may be adversely affected if substantial investments in businesses and operations fail to produce expected returns.
  • The sale of a large number of shares of common stock by our principal stockholder could depress the market price of our common stock.
  • Changes in our credit ratings or macroeconomic conditions may affect our liquidity, increasing borrowing costs and limiting our financing options.
  • If our internal controls are ineffective, our operating results could be adversely affected.
  • If our estimates or judgments relating to our critical accounting policies prove to be incorrect, our operating results could be adversely affected.
  • Anti-takeover provisions may impair an acquisition of the Company or reduce the price of our common stock.
  • We may fail to meet market expectations, which could cause the price of our stock to decline.
Management Discussion
  • In fiscal 2021, NIKE, Inc. achieved record Revenues which increased 19% to $44.5 billion. The NIKE Brand, which represents over 90% of NIKE, Inc. Revenues, experienced growth of 19%, up 17% on a currency-neutral basis, driven by increases across all geographies. NIKE Direct grew 30% on a currency-neutral basis, driven by 60% growth in digital, with all geographies growing strong double digits, while wholesale revenues grew 10%. Revenues for Converse increased 19% and 16%, on a reported and currency-neutral basis, respectively, led by strong double-digit growth in digital.
  • Income (loss) before income taxes increased 131% for fiscal 2021, primarily due to higher revenues, gross margin expansion and selling and administrative expense leverage. NIKE, Inc. gross margin increased 140 basis points primarily due to annualizing the impacts of COVID-19 including lower factory cancellation charges, lower inventory obsolescence reserves as well as the favorable rate impact of fixed supply chain costs on a higher volume of wholesale shipments. The increase in gross margin also reflects higher full-price product margins across wholesale and NIKE Direct. Selling and administrative expense decreased due to lower Demand creation expense, partially offset by higher Operating overhead expense. Demand creation expense decreased primarily due to lower marketing and advertising expenses for our brand events and retail operations, as well as lower sports marketing expenses as sporting events were postponed due to COVID-19. These decreases were partially offset by higher digital marketing investments. Operating overhead expense increased primarily due to an increase in strategic technology investments, higher NIKE Direct variable costs and $255 million in restructuring-related costs, partially offset by lower bad debt expense and travel and related expenses. ROIC as of May 31, 2021, was 48.8% compared to 21.5% as of May 31, 2020. ROIC is considered a non-GAAP financial measure, see "Use of Non-GAAP Financial Measures" for further information.
  • During fiscal 2020, we entered into definitive agreements to sell our NIKE Brand businesses in Brazil, Argentina, Chile and Uruguay and to shift to a distributor operating model. During fiscal 2021, the transaction with Grupo SBF S.A. to purchase substantially all of our NIKE Brand operations in Brazil closed. Additionally, during the third quarter of fiscal 2021, we mutually agreed with Grupo Axo to terminate the sale and purchase agreement for the transition of NIKE’s businesses in Argentina, Chile and Uruguay to a distributor partnership. However, as we remain committed to selling the legal entities in all three countries and granting distribution rights to third-party distributors, the assets and liabilities of the entities have remained classified as held-for-sale on our Consolidated Balance Sheets as of May 31, 2021. For more information related to our planned distributor partnership transition within APLA, see Note 20 — Acquisitions and Divestitures within the accompanying Notes to the Consolidated Financial Statements. In future quarters, as we shift from a wholesale and direct to consumer operating model to a distributor operating model within these countries, we expect consolidated NIKE, Inc. and APLA revenue growth will be reduced due to differences in commercial terms. However, we expect the future operating model to have a favorable impact on our overall profitability as we reduce selling and administrative expenses, as well as lessen exposure to foreign exchange rate volatility.
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