Today Nike announced its fiscal 2018 fourth quarter and full year reports. Along with a planned $15 billion share repurchase program, the Swoosh made public a 13 percent fourth quarter revenue increase, which saw the sportswear giant ring in $9.8 billion.
The big increase in revenue was reportedly down to double-digit increases in NIKE Direct, international geographies, Sportswear, Global Football and growth in North America, a market they were previously falling behind competitors in.
Converse on the other hand, saw revenue fall 14 percent to $512 million.
Total revenue for Nike during fiscal 2018 increased 6 percent, totalling $36.4 billion
According to Nike, “strong revenue growth, gross margin expansion, a lower tax rate and a lower average share count” were behind diluted earnings per share for the fourth quarter rising 15 percent to $0.69.
“Our new innovation is winning with consumers, driving significant momentum in our international geographies and a return to growth in North America,” said Mark Parker. “Fueled by a complete digital transformation of our company end-to-end, this year set the foundation for Nike’s next wave of long-term, sustainable growth and profitability.”
The aforementioned share repurchase program will run over four years and start after the current $12 billion repurchase program is completed within fiscal 2019.
For further details, check out the full Nike report here.