NIKE, Inc. Reports Fiscal 2009 Fourth Quarter and Full Year Results

Business Wire, June 24, 2009

EMEA

Fourth quarter revenue for the EMEA region was down 19 percent to $1.2 billion. Excluding currency changes, revenue was down 3 percent. Footwear revenue decreased 13 percent to $772.2 million, apparel revenue was down 28 percent to $383.9 million and equipment revenue declined 25 percent to $85.3 million due to the negative impact of currency changes and tough prior year comparisons, which included product sales for the 2008 European Championships. Fourth quarter pre-tax income decreased 3 percent to $321.1 million.

Full fiscal year EMEA revenue was down 2 percent to $5.5 billion. Excluding currency changes, revenue for the period was flat to last year. Footwear revenue was up 1 percent to $3.1 billion, apparel revenue decreased 5 percent to $2.0 billion and equipment revenue was down 6 percent to $405.3 million. European fiscal year pre-tax income was up 3 percent to $1.3 billion.

Asia Pacific

Fourth quarter revenue for the Asia Pacific region was flat compared to last year at $833.1 million. Excluding currency changes, revenue grew 3 percent. Footwear revenue was flat with last year at $421.9 million, apparel revenue was up 1 percent to $342.7 million, and equipment revenue was down 1 percent to $68.5 million. Fourth quarter pre-tax income increased 41 percent to $238.2 million mainly driven by lower demand creation spending. Last year’s fourth quarter demand creation spending was higher in support of the Olympic Games in Beijing.

For the full fiscal year, Asia Pacific revenue increased 15 percent to $3.3 billion. Excluding currency changes, revenue grew 12 percent. Footwear revenue increased 15 percent to $1.7 billion, apparel revenue grew 16 percent to $1.3 billion and equipment revenue was up 10 percent to $272.6 million. For the fiscal year pre-tax income increased 23 percent to $853.4 million due to higher revenue, lower demand creation spending and better gross margin performance.

Americas

Fourth quarter revenue in the Americas region decreased 3 percent to $299.0 million. Excluding currency changes, revenue increased by 20 percent. Footwear revenue was up 4 percent to $210.9 million, apparel revenue dropped 16 percent to $65.9 million and equipment revenue declined 20 percent to $22.2 million. Fourth quarter pre-tax income was up 15 percent to $70.8 million.

Full fiscal year revenue for the Americas region grew 10 percent to $1.3 billion. Excluding currency changes, revenue grew 19 percent. Footwear revenue increased 13 percent to $892.1 million, apparel revenue was up 8 percent to $287.8 million and equipment revenue decreased 2 percent to $104.8 million. Pre-tax income increased 13 percent to $274.1 million for the fiscal year.

Other Businesses

For the fourth quarter, Other business revenue, which includes Cole Haan, Converse Inc., Hurley International LLC, NIKE Golf, and Umbro Ltd. decreased 5 percent to $702.3 million and pre-tax income dropped 56 percent to $40.6 million. For the fiscal year, Other business revenue decreased 1 percent to $2.5 billion and had a pre-tax loss of $196.7 million versus pre-tax income of $364.9 million in fiscal 2008.