Nike Inc (NYSE:NKE) Q4 2020 Earnings Conference Call - Final Transcript

Jun 25, 2020 • 05:00 pm ET


Nike Inc (NYSE:NKE) Q4 2020 Earnings Conference Call - Final Transcript


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Good afternoon everyone. Welcome to Nike, Inc.'s Fiscal 2020 Fourth Quarter Conference Call. For those who want to reference today's press release, you'll find it at Leading today's call is Andy Muir, VP, Investor Relations. Before I turn the call over to Ms. Muir, 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 the 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 Andy Muir, VP, Investor Relations.

Andy Muir

Thank you, operator. Hello, everyone, and thank you for joining us today to discuss Nike, Inc.'s fiscal 2020 fourth quarter and full year 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 or at our website Joining us on today's call will be Nike, Inc.'s, President and CEO, John Donahoe; and Chief Financial Officer, Matt Friend. 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 one. 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. Thanks for your cooperation on this.

I'll now turn the call over to Nike, Inc.'s President and CEO, John Donahoe.

John Donahoe

Thank you, Andy, and let me congratulate you on your new role leading Investor Relations. I also want to congratulate Matt on becoming our CFO and express how deeply confident I am in Nike's financial management under Matt's leadership. Before I get into our Q4 performance, I want to take a moment to acknowledge the environment in the U.S. right now. Over the past month, we've seen racial tragedies, exposed systemic prejudice and injustice in America. And Nike has a long history of standing up against inequality, driven by our values and rooted in the power of sport. Today, we are uniting behind our black athletes, teammates and communities as Nike continues to lead with purpose, and we're taking action to help create lasting change to address systemic racism in