Nike's Background And Financial History Of Nike

Powerful Essays
Nike Growing up as a kid, and being an athlete Nike was always my favorite product. I loved wearing their shoes and clothes. I remembered the days growing up with Michael Jordan as the face of Nike; then witnessing LeBron James, Kevin Durant, and Paul George becoming today’s well known faces of Nike. They have always been known for the athletic apparel. Now we look into some of Nike’s background and financial records.
Lara O’Reilly from Business Insider explains, “that Nike was founded 1964 as Blue Ribbon Sports and initially operated as a distributor for the Japanese shoemaker Onitsuka Tiger (now known as Asics). (O’Reilly, 2017) Nike did not become Nike Inc. until 1971. In 1964 when Nike was founded, it was by the man Bill Bowerman.
…show more content…
Nike seen growth in the company between 2010-2015. Nike used top athletes to partner with in order to bring in more success. From Yahoo finances I will talking about some key financial information which includes; revenue, gross margin percentage, net income and key ratios. In 2016 Nike went up 6 percent to $32.4 billion; and had a 12 percent growth excluding currency changes. (Nike, Inc./ American Company, 2017) From it explains, “Revenues for the NIKE Brand were $7.7 billion, up 8 percent on a currency-neutral basis driven by double-digit growth in Western Europe, Greater China, Emerging Markets and Japan, including strong growth in Sportswear, Global Football and the Jordan Brand. Revenues for Converse were $513 million, up 18 percent on a currency-neutral basis, mainly driven by a major system go-live that accelerated orders from the fourth quarter to the third quarter in the prior year.” (Nike, Inc./ American Company,…show more content…
(Nike, Inc./ American Company, 2017) Their net income continue to grow in a great year for Nike. Net was about $58 million, and was primarily comprised of net foreign currency exchange gains. “For the quarter, the Company estimates the year-over-year change in foreign currency-related gains and losses included in other income, net, combined with the impact of changes in exchange rates on the translation of foreign currency-denominated profits, decreased pretax income by approximately $66 million.” (Nike, Inc./ American Company,
Get Access