, APAC
326 views
Source: NIKE

Nike’s net income stumbles 22% in Q1 2023

Its net income stood at $1.46b in the three months ending in August 2022.

Nike’s net income dropped by 22% to $1.46b in the first quarter of its 2023 financial year, down from $1.87b in the previous year. 

Over the same period, Nike recorded a 4% year-on-year revenue growth to $12.68b, up from $12.24b.

"Our strong start to FY23 highlights the depth and breadth of NIKE’s global portfolio, as we continue to manage through volatility,” John Donahoe, President, and CEO, NIKE, Inc., said. 

“Our competitive advantages, including the strength of our brand, deep consumer connections, and pipeline of an innovative product, continue to prove that our strategy is working. We expect our unrelenting focus on better serving the consumer to continue to fuel growth and create value like only NIKE can."

Read more: NIKE net income slips by 5% in Q4

The NIKE Brand recorded a revenue of $12b, up 4% on a reported basis and up 10% on a currency-neutral basis, led by double-digit currency-neutral growth in North America, Europe,  the Middle East, and  Africa, and Asia-Pacific and Latin America. This was, however, offset in part by declines in Greater China.

Moreover, revenues for Converse stood at $643m, up 2% on a reported basis and up 8% on a currency-neutral basis. This was led by double-digit growth in North America and Europe, partially offset by declines in Asia.

 

Follow the link for more news on

Kawan Lama Indonesia mengaburkan batas antara belanja online dan offline

Pengunjung  platform e-commerce grup, Ruparupa.

K3Mart memadukan budaya Korea dan produk UMKM lokal dalam satu gerai

Convenience store itu menyediakan perbandingan produk impor dan produk lokal sebesar 50:50 di 30 outlet mereka.

Meningkatkan penelusuran dan efisiensi manajemen inventaris dengan barcode 2D GS1

Barcode 2D ini berfungsi sebagai penyimpanan data yang kompak.

The Coffee Bean & Tea Leaf menyeimbangkan kualitas dan kenyamanan melalui produk ritel

Mereka memperluas rangkaian produk termasuk berbagai kopi single-origin yang disesuaikan dengan preferensi pemanggangan yang berbeda.

KCG menguasai brand positioning untuk segmen premium di Indonesia

Mereka mengadopsi solusi berbasis teknologi terbaru untuk sukses mengelola 92 toko ritel di 20 kota di Indonesia.

Ini alasan brand-brand mewah meningkatkan investasi AI

Sektor ini telah menginvestasikan lebih dari $360 juta dalam AI selama tiga tahun terakhir.

Bacha Coffee menguasai retail kaya sensorik di Jakarta

Memadukan warisan dan kemewahan, Bacha Coffee Plaza Senayan menghadirkan pengalaman unik bagi pecinta kopi Indonesia.

Bagaimana WCT Malls meningkatkan penjualan tenant melalui pemasaran terarah

Melalui pemasaran terarah, mal ini meningkatkan penjualan tenant dan tingkat okupansi.