Nike Targets $36 Billion for 2017

Nike, Inc. (NYSE: NKE) hosted investors on Wednesday at its world headquarters and announced its goal to deliver $36 billion in revenue by fiscal year 2017.

The company also stated it expects to deliver revenues of $30 billion by fiscal year 2015, at the top end of its previously announced target range of $28-30 billion.

“Nike, Inc. is designed to win. We’ve never been better positioned to capitalize on the opportunities ahead of us,” said Nike, Inc. president and CEO Mark Parker.

“We have a strong management team and we are accelerating our innovation agenda to create products and services that drive growth in the marketplace, deliver exciting retail experiences globally and expand the capabilities of our powerful supply chain.”

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The company expects Nike Brand growth across its business portfolio of geographical business units, product types, businesses and categories.

Some of the Nike Brand fiscal 2017 growth targets highlighted at the meeting included:

  • Apparel to grow from $7.5 billion to $10 billion
  • Women’s business to grow from $4 billion to $7 billion
  • Direct to Consumer e-commerce business to grow from nearly $550 million to $2 billion

Nike, Inc., based near Beaverton, Oregon, is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities.

In the picture above: NIKE, Inc. President & CEO Mark Parker announcing the company’s new FY17 revenue target of $36 billion.

RMN News

Rakesh Raman