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we anticipate higher promotional activity to sell seasonal inventory, which has arrived late due to a combination of factory closures and longer transit times.
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2022 Q4
2 Oct 22
We expect gross margin pressure to exceed 100 basis points in the first quarter of fiscal '23
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2022 Q4
2 Oct 22
We expect gross margins to be in the range of flat to declining by 50 basis points versus the prior year
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2022 Q4
2 Oct 22
In the first quarter, we expect real dollar revenue growth to be flat to slightly up versus the prior year due to COVID disruption in Greater China and more than 500 basis points impact from foreign exchange translation.
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2022 Q4
2 Oct 22
We expect revenue for the full year to grow low double digits on a currency-neutral basis, partially offset by foreign exchange headwinds of approximately 400 basis points.
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2022 Q4
2 Oct 22
For the second quarter specifically, we expect reported revenue to grow low double digits
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2023 Q1
2 Oct 22
We now expect gross margin to decline between 200 to 250 basis points versus the prior year. This reflects approximately 150 basis points of annual impact from higher markdowns and higher off-price mix to liquidate elevated inventory, a second straight year of more than 100 basis points of headwinds from elevated freight and logistics costs, and foreign exchange pressure now a 70 basis point headwind on the full year.
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2023 Q1
2 Oct 22
First quarter reported gross margin declined 220 basis points to 44.3%. This was primarily due to elevated freight and logistics costs plus higher markdowns across the marketplace in North America and unfavorable changes in net foreign currency exchange rates.
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2023 Q1
2 Oct 22
The second quarter also compares to last year's record level of full price realization and includes headwinds from freight, logistics and other supply chain costs as well as foreign exchange.
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2023 Q1
2 Oct 22
accelerate air transportation and other things in our supply chain that allow us to take -- manage every lever we can in this supply chain-constrained environment.
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2022 Q1
2 Oct 22
we expect gross margin to expand at a rate lower than the full year due to higher planned airfreight investment for the holiday season.
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2022 Q1
2 Oct 22
100 basis points of additional transportation, logistics and air freight costs to move inventory in this dynamic environment.
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2022 Q1
2 Oct 22
NIKE Direct representing approximately 60% of our business and digital -- owned digital representing 40% is a trajectory that we are still on.
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2022 Q4
23 Jul 22
NIKE Direct will lead our growth and NIKE Digital will be our fastest-growing channel.
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2022 Q4
23 Jul 22
we've seen full price realization in our -- in 3 of our geographies to be over 70%, whereas our long-term goal is to be at 65% full price realization.
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2022 Q4
23 Jul 22
We believe those costs are transitory in nature, but we expect it's going to take a few years to revert.
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2022 Q4
23 Jul 22
We still believe in the high 40s gross margin goal.
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2022 Q4
23 Jul 22
We've planned for a normalization of full price realization and markdown rates in fiscal '23.
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2022 Q4
23 Jul 22
if you take '22 and '23 together, it's about a 200 basis point impact on a 2-year basis from paying those higher rates to move product from Asia to our other geographies.
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2022 Q4
23 Jul 22
that's being offset by another 100 basis points of ocean freight.
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2022 Q4
23 Jul 22