Nike's revenue increased 10% in Q1.
Nike today reported financial results for its first quarter, which ended August 31, 2018, revealing that revenues for Nike Inc. increased 10% to $9.9 billion. Additionally, Nike reports that revenues for Converse were $527 million, up 7% on a currency-neutral basis, mainly driven by growth in Europe and Asia.
Mark Parker, the Chairman, President and CEO of Nike, Inc. says, “NIKE’s Consumer Direct Offense, combined with our deep line up of innovation, is driving strong momentum and balanced growth across our entire business. Our expanded digital capabilities are accelerating our complete portfolio and creating value across all dimensions as we connect with and serve consumers.”
Andy Campion, Executive Vice President and Chief Financial Officer of NIKE, Inc. adds, “We are delivering stronger global growth and profitability than we anticipated entering this fiscal year. While foreign exchange volatility has increased, our underlying currency-neutral momentum continues to build as we transform how NIKE operates, drives growth and creates value for our shareholders.”
NIKE, Inc. will host a conference call beginning at approximately 2:00 p.m. PT today, September 25 to review and discuss the fiscal first quarter results. The conference call will be broadcast live and can be accessed via https://investors.nike.com.