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As the only “sneakerhead” site that actually spends a lot of time discussing the business aspects, I thought that it was important to share the Q3 Fiscal report with the site followers.
It should be noted that I have been correctly predicting the analysis on this site. For those of you who aren’t going to sit and go through the report, here are the highlights that I gathered from reporters via Twitter (Matthew Kish – PDX, Elaine Low – IBD, Matt Powell – NPD, and Sara Germano – WSJ:
The Space Jam 11 was the “largest and most successful shoe launch in the history of Nike,” says Brand President Trevor Edwards.
75% of styles drive 99% of Nike sales, according to CEO Mark Parker. Company wants to eliminate the non-performing 25%.
Nike, never one to shy from sports metaphors, says it’s going for its own “triple-double” (doubling innovation, speed to market, DTC)
Nike did $8.4 billion in last Q = $650 million/week; $92 Million/day; $4M/Hour; $64K/minute; $1000/ sec.
Nike’s futures orders are negative in every geography except emerging markets. Total global futures -4%.
Nike CFO says they have just scratched surface of Chinese market, thanks in part to importance of “more than 350 Chinese millennials”
Nike CFO Campion: Retail “not in a steady state,” cites digital disruption, aggressive promotional activity.
Nike CFO Andy Campion says company doubling investment in innovation.
“We know we have more work to do to supercharge performance product in North America,” says Nike Brand President Trevor Edwards
Nike Brand Pres Trevor Edwards: company sees “great energy” in basketball. Kyrie 3 is top seller.
“For us, personal service is the new premium,” says Nike Brand President Trevor Edwards.
“The consumer has decided digital isn’t just part of the shopping experience, it is the foundation of it,” Nike CEO Mark Parker.
Sales for NIKE Brand were $7.9 billion, up 7% , driven by double-digit growth in Western Europe, Greater China and the Emerging Markets
Nike tops earnings per share estimates ($0.68 v. $0.53 expected), but just misses on revenue ($8.4 billion v. $8.47 billion expected).
A quick search via the site will garner you everything listed here in the articles posted to the site. While ARCH doesn’t have the traffic of the bigger sites, I am taking a lot of pride in how correct I’ve been in my analysis. Someone should really consider paying the man, lol. For your reference here is my prediction that delivers almost everything shared here via Twitter in today’s thoughts and in a previous prediction article.