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low-single-digit price increases in fiscal 2024, plus ongoing benefits from our shift to a more direct business
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2023 Q4
4 Jul 23
This reflects the beginning of recovery from transitory headwinds, including more favorable ocean freight rates starting halfway through the second quarter and a modest improvement in markdowns versus the prior year.
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2023 Q4
4 Jul 23
We expect gross margins to expand a 140 basis points to a 160 basis points on a reported basis, which translates to approximately 200 basis points of operational gross margin expansion, excluding 50 basis points of negative impact from foreign exchange headwinds.
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2023 Q4
4 Jul 23
For the full-year, we expect fiscal 2024 reported revenue to grow mid-single-digits, led by NIKE Direct. This includes approximately four points of headwinds from the prior year from wholesale shipment timing and accelerated liquidation activities.
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2023 Q4
4 Jul 23
Third quarter reported gross margins declined 330 basis points to 43.3% due to higher markdowns, increased product input costs, elevated freight and logistics expenses, including higher supply chain network costs in North America, partially offset by strategic pricing actions. This also includes approximately 140 basis points of impact from unfavorable changes in net foreign currency exchange rates.
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2023 Q3
4 Jul 23
we've been talking about 350 basis points of transitory cost headwinds in our gross margins over the past two years between elevated ocean freight and logistics and then the promotions required to move through excess and early arriving inventory
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2023 Q3
4 Jul 23
And we expect that those transitory headwinds will begin to recover in fiscal year '24
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2023 Q3
4 Jul 23
We expect fiscal '23 gross margin to decline approximately 250 basis points at the low end of our previous guidance range.
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2023 Q3
4 Jul 23
For the fourth quarter, this translates into flat to low single-digit revenue growth.
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2023 Q3
4 Jul 23
we now expect fiscal '23 reported revenue to grow high single digits, an improvement from mid-single-digit guidance in the prior quarter with approximately 600 basis points of foreign exchange headwinds
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2023 Q3
4 Jul 23
We still are confident in that high 40s gross margin outlook through fiscal ‘25
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2022 Q2
7 Jan 23
At this point in time, the transitory impacts roughly equate to about 350 basis points of gross margin pressure, which directly drops to the EBIT margin.
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2023 Q2
7 Jan 23
our inventory position at the end of Q1 to reduce our buys for the second half of the year.
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2023 Q2
21 Dec 22
As transit times stabilize, we are optimistic that we will begin to see a more normal and predictable flow supply in a more capital-efficient manner.
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2023 Q2
21 Dec 22
This quarter, we also leveraged targeted promotions to serve and acquire NIKE members
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2023 Q2
21 Dec 22
we increased prices by mid-single digits this quarter
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2023 Q2
21 Dec 22
When you compare this quarter to last year, our inventory supply was so lean that last year, we saw extraordinary levels full price realization through our digital channel and the lowest levels of discounts that we've ever experienced in running that channel.
So we expected that to normalize in this fiscal year
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2023 Q2
21 Dec 22
As we look at transit times continuing to improve, one of the things that gives us greater confidence is a more predictable flow of supply on normal lead times.
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2023 Q2
21 Dec 22
throughout the entire quarter, we continue to see strong levels of full price realization in footwear
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2023 Q2
21 Dec 22
We continue to expect gross margin to decline between 200 basis points to 250 basis points versus the prior year, reflecting ongoing liquidation actions in the second half.
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2023 Q2
21 Dec 22