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NKE Nike

Nike, Inc. is an American multinational corporation that is engaged in the design, development, manufacturing, and worldwide marketing and sales of footwear, apparel, equipment, accessories, and services. The company is headquartered near Beaverton, Oregon, in the Portland metropolitan area. It is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$37.4 billion in its fiscal year 2020 . As of 2020, it employed 76,700 people worldwide. In 2020 the brand alone was valued in excess of $32 billion, making it the most valuable brand among sports businesses. Previously in 2017, the Nike brand was valued at $29.6 billion. Nike ranked No. 89 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. The company was founded on January 25, 1964, as "Blue Ribbon Sports", by Bill Bowerman and Phil Knight, and officially became Nike, Inc. on May 30, 1971. The company takes its name from Nike, the Greek goddess of victory. Nike markets its products under its own brand, as well as Nike Golf, Nike Pro, Nike+, Air Jordan, Nike Blazers, Air Force 1, Nike Dunk, Air Max, Foamposite, Nike Skateboarding, Nike CR7, and subsidiaries including Brand Jordan, and Converse. Nike also owned Bauer Hockey from 1995 to 2008, and previously owned Cole Haan, Umbro, and Hurley International. In addition to manufacturing sportswear and equipment, the company operates retail stores under the Niketown name. Nike sponsors many high-profile athletes and sports teams around the world, with the highly recognized trademarks of "Just Do It" and the Swoosh logo.

Company profile

Ticker
NKE
Exchange
Website
CEO
John Donahoe
Employees
Incorporated
Location
Fiscal year end
Former names
NIKE INC
SEC CIK
IRS number
930584541

NKE stock data

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Calendar

5 Jan 21
2 Mar 21
31 May 21
Quarter (USD)
Nov 20 Aug 20 Feb 20 Nov 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD)
May 20 May 19 May 18 May 17
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
16 Feb 21 Chris L Abston Class B Common Stock Payment of exercise Dispose F No No 141.71 304 43.08K 3,059.184
10 Feb 21 Krane Hilary K Class B Common Stock Sell Dispose S No Yes 141.61 18,500 2.62M 150,184.968
10 Feb 21 Krane Hilary K Class B Common Stock Option exercise Aquire M No Yes 38.76 18,500 717.06K 168,684.968
10 Feb 21 Krane Hilary K NQSO Class B Common Stock Option exercise Dispose M No No 38.76 18,500 717.06K 66,500
13 Jan 21 Donahoe John J Class B Common Stock Payment of exercise Dispose F No No 143.04 31,648 4.53M 232,844
7 Jan 21 Chris L Abston Class B Common Stock Sell Dispose S No Yes 145 30,000 4.35M 3,363.184
7 Jan 21 Chris L Abston Class B Common Stock Option exercise Aquire M No Yes 56.4 30,000 1.69M 33,363.184
7 Jan 21 Chris L Abston NQSO Class B Common Stock Option exercise Dispose M No No 56.4 30,000 1.69M 0
30 Dec 20 Mark G Parker Class B Common Stock Sell Dispose S No Yes 141.99 21,634 3.07M 1,423,635
30 Dec 20 Mark G Parker Class B Common Stock Option exercise Aquire M No Yes 22.925 21,634 495.96K 1,445,269
79.6% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 2083 1938 +7.5%
Opened positions 269 187 +43.9%
Closed positions 124 103 +20.4%
Increased positions 794 707 +12.3%
Reduced positions 761 789 -3.5%
13F shares
Current Prev Q Change
Total value 143.97B 125.99B +14.3%
Total shares 1.01B 999.37M +1.3%
Total puts 17.2M 15.96M +7.8%
Total calls 12.83M 11.48M +11.7%
Total put/call ratio 1.3 1.4 -3.6%
Largest owners
Shares Value Change
Vanguard 103.95M $14.71B -0.3%
BLK Blackrock 93.11M $13.17B -0.2%
STT State Street 54.62M $7.73B -7.1%
FMR 31.11M $4.4B +1.5%
TROW T. Rowe Price 29.3M $4.14B +18.0%
BK Bank Of New York Mellon 26.52M $3.75B +1.5%
Wellington Management 20.56M $2.91B -3.2%
Jennison Associates 20.45M $2.89B +30.8%
NTRS Northern Trust 19.64M $2.78B -0.9%
MS Morgan Stanley 19.5M $2.76B +31.3%
Largest transactions
Shares Bought/sold Change
Jennison Associates 20.45M +4.81M +30.8%
MS Morgan Stanley 19.5M +4.64M +31.3%
TROW T. Rowe Price 29.3M +4.47M +18.0%
STT State Street 54.62M -4.19M -7.1%
1832 Asset Management 3.73M +2.1M +129.2%
SF Stifel Financial 993.89K -2.03M -67.1%
WCM Investment Management 1.82M +1.82M NEW
Arrowstreet Capital, Limited Partnership 2.7M +1.76M +186.9%
UBS UBS Group AG - Registered Shares 4.28M -1.51M -26.1%
Nuveen Asset Management 10.96M -1.49M -11.9%

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 are expected to continue to 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.
  • 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.
  • Economic factors beyond our control, and changes in the global economic environment, including fluctuations in inflation and currency exchange rates, could result in lower revenues, higher costs and decreased margins and earnings.
  • We may be adversely affected by the financial health of our customers.
  • 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 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.
  • 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.
  • 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.
  • 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.
  • We are subject to the risk our licensees may not generate expected sales or maintain the value of our brands.
  • Failure of our contractors or our licensees' contractors to comply with our code of conduct, local laws and other standards could harm our business.
  • 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.
  • Our success depends on our global distribution facilities.
  • The market for prime real estate is competitive.
  • Extreme weather conditions and natural disasters could negatively impact our operating results and financial condition.
  • Our financial results may be adversely affected if substantial investments in businesses and operations fail to produce expected returns.
  • 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.
  • 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
  • Fiscal 2020 NIKE, Inc. Revenues declined 4% to $37.4 billion, as revenue growth of 7% for the first nine months of fiscal 2020 was more than offset by a 38% decline in the fourth quarter due to the impacts of COVID-19. The NIKE Brand, which represents over 90% of NIKE, Inc. Revenues, experienced a 4% decline, down 2% on a currency-neutral basis, driven by declines across nearly all geographies, partially offset by 11% currency-neutral growth in Greater China. NIKE Direct grew 8% on a currency-neutral basis driven by 49% growth in digital, with all geographies growing strong double digits, while wholesale revenues declined 7%. Revenues for Converse declined 3% and 1%, on a reported and currency-neutral basis, respectively, as revenue growth in Asia was more than offset by declines in North America, Europe and licensee markets.
Content analysis
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Positive
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Legalese
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Readability
H.S. freshman Avg
New words: aggressively, air, allocation, disciplined, insignificant, mutually, Northern, organizational, professional, realignment, recapture, Repayment, reprioritizing, reprofile, shape, significantly, tighter
Removed: August, commerce, deliberate, Eastern, enhanced, incremental, managing, outlined