NIKE, Inc. (NYSE:NKE) Q4 2018 Earnings Conference Call Transcript

Jun 28, 2018 • 05:00 pm ET


NIKE, Inc. (NYSE:NKE) Q4 2018 Earnings Conference Call Transcript


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Good afternoon, everyone. Welcome to NIKE, Inc.'s Fiscal 2018 Fourth Quarter Conference Call. For those who want to reference today's press release, you'll find it at Leading today's call is Nitesh Sharan, Vice President, Investor Relations and Treasurer.

Before I turn the call over to Mr. Sharan, 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 the Annual Report filed on Form 10-K.

Some forward-looking statements may concern expectations of future revenue growth or gross margin. In addition, participants may discuss non-GAAP financial measures, including references to constant dollar revenue. References to constant dollar revenue are intended to provide context as to the performance of the business eliminating foreign exchange fluctuations.

Participants may also make references to other non-public financial and statistical information and non-GAAP financial measures. To the extent non-public financial and statistical information is discussed, presentations of comparable GAAP measures and quantitative reconciliations will be made available at NIKE's website,

Now, I would like to turn the call over to Nitesh Sharan, Vice President, Investor Relations and Treasurer.

Nitesh Sharan

Thank you, operator. Hello, everyone, and thank you for joining us to today to discuss NIKE, Inc.'s fiscal 2018 fourth quarter and full-year results, and sorry for the brief delay in getting started.

As the operator indicated, participants on today's call may discuss non-GAAP financial measures. You'll find the appropriate reconciliations in our press release, which was issued about an hour ago or at our website,

Joining us on today's call will be NIKE, Inc. Chairman, President and CEO, Mark Parker; and our Chief Financial Officer, Andy Campion. 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 requeue and we will do our best to come back to you. Thanks for your cooperation on this.

I'll now turn the call over to NIKE, Inc. Chairman, President and CEO, Mark Parker.

Mark Parker

Thanks, Nitesh, and hello and good afternoon, everyone.

We had a strong fourth quarter with results that confirm why we're so excited about potential of the Consumer Direct Offense. The shifts we've made to our business and our deeper focus on the three core areas, innovation, direct and speed are igniting the next phase of growth and profitability for NIKE. Here are the key areas where we're driving momentum in our business.

First, we're winning with new innovation. We're leading with platforms, not just products. For example React and Air Max are scaling through multiple styles and across categories. They're driving extraordinary growth and brand heat with consumers. Second, our Digital Offense