NIKE, Inc. (NYSE:NKE) Q1 2020 Earnings Conference Call - Final Transcript

Sep 24, 2019 • 05:00 pm ET

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NIKE, Inc. (NYSE:NKE) Q1 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon, everyone. Welcome to Nike, Inc.'s Fiscal 2020 First Quarter Conference Call. For those who want to reference today's press release, you will find it at http://investors.nike.com. Leading today's call is Matt Friend, CFO, Nike operating segments and Vice President, Investor Relations.

Before I turn the call over to Mr. Friend, 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, http://investors.nike.com

Now, I would like to turn the call over to Matt Friend, CFO, operating segments and Vice President Investor Relations.

Executive
Matt Friend

Thank you, Operator. Hello, everyone, and thank you for joining us today to discuss Nike, Inc.' fiscal 2020 first quarter results. 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 at our website investors.nike.com.

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 that 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. Thanks for your cooperation on this.

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

Executive
Mark Parker

Thanks, Matt, and good afternoon, everyone. Many of you know Matt. I'd like to welcome him to his first call as he takes on the responsibility of Investor Relations, and then of course on behalf of the whole team, I'd like to thank Nitesh for his partnership over the last several years.

Turning to the results. We feel very good about our performance in the first quarter of fiscal year '20, growing revenue 10% on a currency-neutral basis. It was a quarter that proved the depth and balance of our complete offense, building on the strengths of our foundational business drivers and capitalizing on the untapped dimensions of our portfolio.

For the quarter, this is reflected in the broad-based growth