In the fourth quarter of fiscal 2018, Nike Inc’s revenues increased +13% to US$9.8 billion, up 8% on a currency-neutral basis. Revenues for the Nike brand were US$9.3 billion in the period, up +9%, driven by double-digit increases in Nike Direct, international geographies, Sportswear, Global Football and growth in North America, according to the Company. Net income increased +13% to US$1.1 billion primarily attributed to strong global revenue growth, gross margin expansion and a lower tax rate.

For the full year ending May 31, 2018, Group revenues rose +6% to US$36.4 billion, up +4% on a currency-neutral basis, while that of the Nike brands were up +5% (currency-neutral) to US$34.5 billion. Net income decreased -54% in the year to US$1.9 billion primarily due to the impact of the Tax Act, which offset strong revenue growth. Diluted earnings per share decreased -53% to US$1.17, including a decline in the weighted average diluted common shares outstanding.

“Our new innovation is winning with consumers, driving significant momentum in our international geographies and a return to growth in North America,” said Mark Parker, Chairman, President and CEO, Nike. “Fuelled by a complete digital transformation of our company end-to-end, this year set the foundation for Nike’s next wave of long-term, sustainable growth and profitability”, he added.