Nike (NKE) Q1 2015 Earnings Results Conference Call Transcript

Nike’s (NKE) CEO Mark Parker discusses Q1 2015 earnings results in a conference call held on September 25, 2014.


Edited Transcript of Nike (NKE) Q1 2015 Results Earnings Conference Call

Company: Nike (NKE)

Event Name: Q1 2015 Results Earnings Conference Call

Date: September 25 2014 5:00 PM ET


Good afternoon everyone. Welcome to Nike’s fiscal 2015 first quarter conference call. For those who need to reference today’s press release, you will find it at Leading today’s call is Kelley Hall, Vice President, Corporate Finance and Treasurer.

Before I turn the call over to Ms. Hall, let me remind you that participants on this call will make forward-looking statements based on current expectations, and those statements are subject to certain risks and uncertainties that could cause actual results to differ materially.

These risks and uncertainties are detailed in the reports filed with the SEC, including Forms 8-K, 10-K, and 10-Q. Some forward-looking statements concern future orders that are not necessarily indicative of changes in total revenues for subsequent periods due to mix of futures and at-once orders, exchange rate fluctuations, order cancellations, changes in the timing of shipments, discounts, and returns, which may vary significantly from quarter to quarter.

In addition, it is important to remember a significant portion of Nike Inc.’s continuing operations including equipment, Nike Golf, Converse, and Hurley are not included in these future numbers.

Finally, participants may discuss non-GAAP financial measures, including references to wholesale equivalent sales. References to wholesale equivalent sales are only intended to provide context as to the overall current market footprint of the brands owned by Nike Inc. and should not be relied upon as a financial measure of actual results.

Participants may also make references to other non-public financial and statistical information and to non-GAAP financial measures. Discussion of non-public financial and statistical information and presentations of comparable GAAP measures and quantitative reconciliations can be found at Nike’s website,

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Now I would like to turn the call over to Kelley Hall, vice president, corporate finance and treasurer.

Kelley Hall – Vice President, Treasury and Investor Relations

Thank you, operator. Hello, everyone, and thank you for joining us today to discuss Nike’s fiscal 2015 first quarter results. As the operator indicated, participants on today’s call may discuss non-GAAP financial measures. You will find the appropriate reconciliations in our press release, which was issued about an hour ago, and at our website,

Joining us on today’s call will be Nike, Inc.’s President and CEO Mark Parker, followed by Trevor Edwards, President of the Nike brands, and finally, you will hear from our Chief Financial Officer, Don Blair, who will give you an in-depth review of our financial results.

Following their prepared remarks, we will take your questions. We would like to allow as many of you to ask questions as possible in our allotted time, so we would appreciate you limiting your initial questions to two. In the event you have additional questions that are not covered by others, please feel free to re-queue and we will do our best to come back to you. Thank you for your cooperation on this.

I will now turn the call over to Nike, Inc.’s President and CEO Mark Parker.

Mark Parker – President and CEO

Thank you, Kelley, and hello everyone. Our Q1 results demonstrate that Nike is, without a doubt, a growth company. Nike Inc. revenues grew 15% to $8 billion. Gross margin expanded 170 basis points, and diluted earnings per share increased 27% to $1.09.

Nike’s Competitive Advantages

On previous calls, I’ve highlighted three of Nike’s distinct competitive advantages: our relationship with athletes and consumers, our ability to innovate, and the power of our portfolio. Those advantages are the foundation for the Q1 results we just reported, and the competitive separation we’re driving in the marketplace.

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First, our relationships with athletes and consumers are unparalleled. By relentlessly focusing on what they want and need, we propel our business forward. We use the insights we gain to deliver the products, services and experience athletes and consumers want. The lens we use to focus these relationships is our category offense, and the power of that approach is most clearly seen during global sports moments like the World Cup.

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