NIKE, Inc. reported a 10% decrease in revenue to $11.6 billion, with diluted earnings per share down 26% to $0.70. Gross margin increased to 45.4%, and net income decreased by 28% to $1.1 billion.
First quarter revenues decreased by 10 percent to $11.6 billion.
NIKE Direct revenues were down 13 percent to $4.7 billion.
Gross margin increased 120 basis points to 45.4 percent.
Diluted earnings per share decreased 26 percent to $0.70.
Given the Company is reporting Q1 results in the midst of a CEO transition, it will address its approach to guidance on the conference call.
Visualization of income flow from segment revenue to net income
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