Nike (NYSE: NKE) is the largest seller of athletic footwear and apparel in the world (FY2023). Nike was founded in 1964 and has been listed on the NYSE since 1980. Nike generated revenue of USD 51.2 billion in FY2023 (year ending May 31).
Nike has two reporting segments: Nike Brand and Converse. Nike Brand is the largest segment (~95% of total revenue in FY2023) and includes “Nike”-branded athletics footwear, apparel, and equipment. The Converse segment (~5%) offers casual sneakers, apparel, and accessories under the Converse, Chuck Taylor, All-Star, One Star, Star Chevron, and Jack Purcell trademarks.
North America is the Nike Brand segment’s largest market (~42% of total revenue in FY2023), followed by Europe, Middle East, and Africa (~26%), Greater China (~14%); and Asia Pacific & Latin America (~13%). Nike expects revenue to grow mid-single digits and gross margins to expand 140 to 160 basis points in FY2024. Nike also aims to significantly reduce its carbon emissions, waste, water usage, and chemicals by 2025.
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