Nike Inc (NYSE:NKE) Q1 2021 Earnings Conference Call - Final Transcript

Sep 22, 2020 • 05:00 pm ET

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Nike Inc (NYSE:NKE) Q1 2021 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon, everyone. Welcome to NIKE, Inc.'s Fiscal 2021 First Quarter Conference Call. For those who want to reference today's press release, you'll find it at http://investors.nike.com. 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 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 Andy Muir, VP, Investor Relations.

Executive
Andy Muir

Thank you, operator. Hello, everyone, and thank you for joining us today to discuss NIKE, Inc.'s fiscal 2021 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 or at our website, investors.nike.com.

Joining us on today's call will be NIKE, Inc. President and CEO, John Donahoe; and our 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 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. President and CEO, John Donahoe.

Executive
John J. Donahoe II

Thank you, Andy, and hello to everyone on today's call. Before I get into our Q1 performance, I want to take a moment to acknowledge the passing of John Thompson last month. Coach, as many of us called him, was a beloved member of the NIKE family, having served on our Board of Directors for over 30 years. He was a true leader and an icon in the world of sports and we will miss him. And here on the West Coast, we're continuing to deal with the wildfires that have hit Oregon, Washington and California. Health and safety remain our first priority, so we've closed facilities and stores where appropriate. For those teammates who've been impacted by evacuation orders, we've made additional benefits of support available and the NIKE Foundation