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 NIKE, Inc. Reports Fiscal 2015 Fourth Quarter and Full Year Results
   Thursday, June 25, 2015 4:15:00 PM ET

--Fourth quarter diluted earnings per share up 26 percent to $0.98

--Fiscal 2015 revenues up 10 percent to $30.6 billion; 14 percent growth excluding currency changes

--Fiscal 2015 diluted earnings per share up 25 percent to $3.70

--Worldwide futures orders up 2 percent; 13 percent growth excluding currency changes

--Inventories as of May 31, 2015 up 10 percent

NIKE, Inc. (NKE ) today reported fiscal 2015 financial results for its fourth quarter and full year ended May 31, 2015. Diluted earnings per share for the quarter increased 26 percent as broad-based revenue growth, gross margin expansion and a lower tax rate more than offset increased SG&A investments.

Fiscal 2015 diluted earnings per share rose 25 percent to $3.70, reflecting 10 percent revenue growth, gross margin expansion, a lower tax rate and a lower average share count, which more than offset the impacts of higher SG&A investments.

"Fiscal 2015 was an outstanding year for NIKE," said Mark Parker, President and CEO, NIKE, Inc. "Our consistent growth is fueled by our connection to the consumer and our ability to deliver innovation at an unprecedented pace and scale. At no time in our history has the growth potential been greater for NIKE."*

Fourth Quarter Income Statement Review

-- Revenues for NIKE, Inc. rose 5 percent to $7.8 billion, up 13 percent on a currency-neutral basis. -- Revenues for the NIKE Brand were $7.4 billion, up 13 percent on a currency-neutral basis driven by growth in nearly every geography and key category except Emerging Markets and Global Football.

-- Revenues for Converse were $435 million, up 14 percent on a currency-neutral basis, mainly driven by market transitions to direct distribution in AGS (Austria, Germany and Switzerland) and strong performance in the United States.

-- Gross margin expanded 60 basis points to 46.2 percent. The increase was primarily attributable to higher average selling prices and continued growth in the higher margin Direct to Consumer (DTC) business, partially offset by higher product input and logistics costs.

-- Selling and administrative expense increased 6 percent to $2.6 billion. Demand creation expense was $819 million, down 7 percent, reflecting higher investment in support of the World Cup in the fourth quarter of fiscal 2014. Operating overhead expense increased 13 percent to $1.8 billion, reflecting continued growth in the DTC business and targeted investments in infrastructure and consumer-focused digital capabilities.

-- Other income, net was $58 million, comprised primarily 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 $37 million.

-- The effective tax rate was 17.8 percent, compared to 23.5 percent for the same period last year, primarily due to adjustments to reduce tax expense recognized in interim quarters of fiscal 2015 on intercompany transactions.

-- Net income increased 24 percent to $865 million while diluted earnings per share increased 26 percent to $0.98, reflecting strong revenue growth and gross margin expansion, a lower tax rate and a decrease in the weighted average diluted common shares outstanding.

Fiscal 2015 Income Statement Review

-- Revenues for NIKE, Inc. rose 10 percent to $30.6 billion, up 14 percent on a currency-neutral basis. -- Revenues for the NIKE Brand were $28.7 billion, up 14 percent excluding the impact of changes in foreign currency.

-- NIKE Brand sales to wholesale customers increased 10 percent on a currency-neutral basis while DTC revenues grew to $6.6 billion, up 29 percent excluding the impact of changes in foreign currency, driven by 16 percent growth in comparable store sales, a 59 percent increase in online sales and the addition of new stores. As of May 31, 2015, the NIKE Brand had 832 DTC stores in operation as compared to 768 a year ago.

-- On a currency neutral basis, NIKE Brand revenue growth was driven by growth in every geography, every key category except Global Football and across the Women’s, Men’s and Young Athletes’ businesses.

-- Revenues for Converse were $2.0 billion, up 21 percent on a currency neutral basis, mainly driven by market transitions to direct distribution in AGS and strong performance in the United States.

-- Gross margin expanded 120 basis points to 46.0 percent. The increase was primarily due to higher average selling prices and continued growth in the higher margin DTC business, partially offset by higher product input and logistics costs.

-- Selling and administrative expense grew 13 percent to $9.9 billion. Demand creation expense was $3.2 billion, up 6 percent, due to an increase in investments in support of key events and product launches, as well as investments in DTC and sports marketing. Operating overhead expense increased 16 percent to $6.7 billion due to the expanding DTC business, higher costs for operational infrastructure and investments in consumer-facing digital capabilities.

-- Other income, net was $58 million for the fiscal year, mainly comprised of net foreign currency exchange gains. For the year, 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 currency exchange rates on the translation of foreign currency-denominated profits, decreased pretax income by approximately $73 million.

-- The effective tax rate was 22.2 percent, compared to 24.0 percent for the same period last year, primarily due to the favorable resolution of tax audits across multiple jurisdictions.

-- Net income increased 22 percent to $3.3 billion reflecting strong revenue growth, gross margin expansion and a lower tax rate. Diluted earnings per share increased 25 percent to $3.70, reflecting the growth in net income and the additional benefit of a decline in the weighted average diluted common shares outstanding.

May 31, 2015 Balance Sheet Review

-- Inventories for NIKE, Inc. were $4.3 billion, up 10 percent from May 31, 2014, driven primarily by a 13 percent increase in NIKE Brand wholesale unit inventories. Changes in the average product cost per unit were more than offset by changes in foreign currency exchange rates, which together decreased NIKE, Inc. inventory growth by approximately 3 percentage points.

-- Cash and short-term investments were $5.9 billion, $782 million higher than last year as growth in net income and collateral received from counterparties as a result of hedging activities more than offset share repurchases, higher dividends and investments in working capital.

Share Repurchases

During the fourth quarter, NIKE, Inc. repurchased a total of 6.8 million shares for approximately $678 million as part of the four-year, $8.0 billion program approved by the Board of Directors in September 2012. As of the end of fiscal 2015, a total of 80.9 million shares had been repurchased under this program for approximately $6.0 billion, at an average cost of $73.55 per share.

Futures Orders

As of the end of the quarter, worldwide futures orders for NIKE Brand athletic footwear and apparel scheduled for delivery from June through November 2015 totaled $13.5 billion, 2 percent higher than orders reported for the same period last year, and 13 percent higher on a currency neutral basis.*

Conference Call

NIKE, Inc. management will host a conference call beginning at approximately 2:00 p.m. PT on June 25, 2015, to review fiscal fourth quarter and full year results. The conference call will be broadcast live over the Internet and can be accessed at http://investors.nike.com . For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, July 2, 2015.

About NIKE, Inc.

NIKE, Inc., based near Beaverton, Oregon, is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly-owned NIKE, Inc. subsidiary brands include Converse, which designs, markets and distributes athletic lifestyle footwear, apparel and accessories, and Hurley, which designs, markets and distributes surf and youth lifestyle footwear, apparel and accessories. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http://investors.nike.com and individuals can follow @Nike.

* The marked paragraphs contain forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the S.E.C., including Forms 8-K, 10-Q, and 10-K. Some forward-looking statements in this release concern changes in futures orders that are not necessarily indicative of changes in total revenues for subsequent periods due to the mix of futures and "at once" orders, exchange rate fluctuations, order cancellations, discounts and returns, which may vary significantly from quarter to quarter, and because a portion of the business does not report futures orders.

                                                                                                                                                                                                             
                                                                                                                                                                     NIKE, Inc.
                                                                                                                                                          CONSOLIDATED STATEMENTS OF INCOME
                                                                                                                                                                                                                                                                                                                                 
                                                                                                   THREE MONTHS ENDED                                                                 %                                                                TWELVE MONTHS ENDED                                                                %
(Dollars in millions, except per share data)      5/31/2015      5/31/2014          Change             5/31/2015      5/31/2014          Change
-------------------------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- --------------------
Revenues                                                                             $      7,779                                         $      7,425                               5%                                                  $     30,601                                         $     27,799                               10%
Cost of sales                                         4,186          4,040            4%                  16,534         15,353            8%
-------------------------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- --------------------
Gross profit                                                                                3,593                                                3,385                               6%                                                        14,067                                               12,446                               13%
   Gross margin                                                                             46.2%                                                45.6%                                                                                          46.0%                                                44.8%
                                                                                                                                                                                                                                                                                                                                 
Demand creation expense                                                                       819                                                  876                               -7%                                                        3,213                                                3,031                               6%
Operating overhead expense                            1,776          1,572            13%                  6,679          5,735            16%
-------------------------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- --------------------
Total selling and administrative expense                                                    2,595                                                2,448                               6%                                                         9,892                                                8,766                               13%
   % of revenue                                                                             33.4%                                                33.0%                                                                                          32.3%                                                31.5%
                                                                                                                                                                                                                                                                                                                                 
Interest expense (income), net                                                                  4                                                    8                                -                                                            28                                                   33                                -
Other (income) expense, net                            (58)             17             -                    (58)            103             -
-------------------------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- --------------------
Income before income taxes                                                                  1,052                                                  912                               15%                                                        4,205                                                3,544                               19%
Income taxes                                            187            214           -13%                    932            851            10%
-------------------------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- --------------------
   Effective tax rate                                                                       17.8%                                                23.5%                                                                                          22.2%                                                24.0%
                                                                                             
-------------------------------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- -------------------- -------------------- ---------------------------------------------------- ---------------------------------------------------- --------------------
NET INCOME                                                        $        865                      $        698            24%                              $      3,273                      $      2,693            22%
-------------------------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                 
Earnings per common share:
   Basic                                                                             $       1.01                                         $       0.80                               26%                                                 $       3.80                                         $       3.05                               25%
   Diluted                                                                           $       0.98                                         $       0.78                               26%                                                 $       3.70                                         $       2.97                               25%
                                                                                                                                                                                                                                                                                                                                 
Weighted average common shares outstanding:
   Basic                                                                                    857.5                                                873.7                                                                                          861.7                                                883.4
   Diluted                                                                                  879.8                                                895.2                                                                                          884.4                                                905.8
                                                                                                                                                                                                                                                                                                                                 
Dividends declared per common share                               $       0.28                      $       0.24                          $       1.08                      $       0.93    
-------------------------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- ---------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                 
                                                                                                                 
                                                                                                              NIKE, Inc.
                                                                                                      CONSOLIDATED BALANCE SHEETS
                                                                                                                                                                                                                  
                                                                                May 31,                                                               May 31,
(Dollars in millions)                                         2015                            2014                      % Change
----------------------------------------------- -------------------- ------------------------------------------------ -------------------- ------------------------------------------------ -------------------- --------------------
ASSETS
Current assets:
    Cash and equivalents                                                                $  3,852                                                              $  2,220                                                    74%
    Short-term investments                                                                 2,072                                                                 2,922                                                   -29%
    Accounts receivable, net                                                               3,358                                                                 3,434                                                    -2%
    Inventories                                                                            4,337                                                                 3,947                                                    10%
    Deferred income taxes                                                                    389                                                                   355                                                    10%
    Prepaid expenses and other current assets        1,968          818             141%
----------------------------------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- --------------------
Total current assets                                                                      15,976                                                                13,696                                                    17%
    Property, plant and equipment                                                          6,395                                                                 6,220                                                    3%
    Less accumulated depreciation                    3,384        3,386              0%
----------------------------------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- --------------------
    Property, plant and equipment, net                                                     3,011                                                                 2,834                                                    6%
    Identifiable intangible assets, net                                                      281                                                                   282                                                    0%
    Goodwill                                                                                 131                                                                   131                                                    0%
    Deferred income taxes and other assets           2,201        1,651              33%
----------------------------------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- --------------------
TOTAL ASSETS                                                         $ 21,600                        $ 18,594              16%
----------------------------------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- --------------------
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
    Current portion of long-term debt                                                   $    107                                                              $      7                                                   1429%
    Notes payable                                                                             74                                                                   167                                                   -56%
    Accounts payable                                                                       2,131                                                                 1,930                                                    10%
    Accrued liabilities                                                                    3,951                                                                 2,491                                                    59%
    Income taxes payable                                71          432             -84%
----------------------------------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- --------------------
Total current liabilities                                                                  6,334                                                                 5,027                                                    26%
    Long-term debt                                                                         1,079                                                                 1,199                                                   -10%
    Deferred income taxes and other liabilities                                            1,480                                                                 1,544                                                    -4%
    Redeemable preferred stock                                                                 -                                                                     -                                                     -
    Shareholders’ equity                            12,707       10,824              17%
----------------------------------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- --------------------
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY                           $ 21,600                        $ 18,594              16%
----------------------------------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- --------------------
                                                                                                                                                                                                                  
                                                                                                                                                                                                   
                                                                                                                                                                                   NIKE, Inc.
                                                                                                                                                                               DIVISIONAL REVENUES
                                                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                                                                                                                                                                                             
                                                                                                                                                                                         % Change                                                                                                                                                                 % Change
                                                                                                                                                                                         Excluding                                                                                                                                                                Excluding
                                                                                    THREE MONTHS ENDED                                                         %                         Currency                                                       TWELVE MONTHS ENDED                                                        %                              Currency
(Dollars in millions)               5/31/2015     5/31/2014  Change   Changes(1)      5/31/2015     5/31/2014  Change        Changes(1)
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
North America
     Footwear                                                          $     2,317                                         $     2,036                        14%                           14%                                            $     8,506                                         $     7,495                        13%                                14%
     Apparel                                                                 1,187                                               1,017                        17%                           17%                                                  4,410                                               3,937                        12%                                12%
     Equipment                           228           241     -5%        -5%              824           867     -5%             -5%
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
          Total                                                              3,732                                               3,294                        13%                           14%                                                 13,740                                              12,299                        12%                                12%
Western Europe
     Footwear                                                                  900                                                 884                        2%                            23%                                                  3,876                                               3,299                        17%                                25%
     Apparel                                                                   310                                                 366                       -15%                           2%                                                   1,555                                               1,427                        9%                                 14%
     Equipment                            57            62     -8%        9%               278           253     10%             15%
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
          Total                                                              1,267                                               1,312                        -3%                           17%                                                  5,709                                               4,979                        15%                                21%
Central & Eastern Europe
     Footwear                                                                  237                                                 219                        8%                            33%                                                    827                                                 763                        8%                                 22%
     Apparel                                                                   101                                                 129                       -22%                           -3%                                                    495                                                 532                        -7%                                5%
     Equipment                            22            22     0%         20%               95            92     3%              14%
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
          Total                                                                360                                                 370                        -3%                           20%                                                  1,417                                               1,387                        2%                                 15%
Greater China
     Footwear                                                                  551                                                 434                        27%                           29%                                                  2,016                                               1,600                        26%                                28%
     Apparel                                                                   245                                                 235                        4%                            6%                                                     925                                                 876                        6%                                 7%
     Equipment                            33            33     0%         0%               126           126     0%              1%
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
          Total                                                                829                                                 702                        18%                           20%                                                  3,067                                               2,602                        18%                                19%
Japan
     Footwear                                                                  145                                                 128                        13%                           33%                                                    452                                                 409                        11%                                23%
     Apparel                                                                    63                                                  75                       -16%                           -1%                                                    230                                                 276                       -17%                                -8%
     Equipment                            22            23     -4%        7%                73            86    -15%             -6%
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
          Total                                                                230                                                 226                        2%                            19%                                                    755                                                 771                        -2%                                9%
Emerging Markets
     Footwear                                                                  631                                                 701                       -10%                           1%                                                   2,641                                               2,642                        0%                                 9%
     Apparel                                                                   249                                                 313                       -20%                          -12%                                                  1,021                                               1,061                        -4%                                5%
     Equipment                            54            66    -18%        -7%              236           246     -4%             5%
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
          Total                                                                934                                               1,080                       -14%                           -3%                                                  3,898                                               3,949                        -1%                                8%
Global Brand Divisions(2)                 30            36    -17%        4%               115           125     -8%             -2%
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
Total NIKE Brand                       7,382         7,020     5%         13%           28,701        26,112     10%             14%
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
Converse                                                                       435                                                 410                        6%                            14%                                                  1,982                                               1,684                        18%                                21%
Corporate(3)                            (38)           (5)      -          -              (82)             3      -               -
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
Total NIKE, Inc. Revenues                           $     7,779                      $     7,425     5%         13%                         $    30,601                      $    27,799     10%             14%
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                             
Total NIKE Brand
     Footwear                                                          $     4,781                                         $     4,402                        9%                            17%                                            $    18,318                                         $    16,208                        13%                                17%
     Apparel                                                                 2,155                                               2,135                        1%                            7%                                                   8,636                                               8,109                        6%                                 10%
     Equipment                                                                 416                                                 447                        -7%                           -2%                                                  1,632                                               1,670                        -2%                                1%
     Global Brand Divisions(2)            30            36    -17%        4%               115           125     -8%             -2%
------------------------------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- ---------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                             
(1) Fiscal 2015 results have been restated using fiscal
2014 exchange rates for the comparative period to enhance the
visibility of the underlying business trends excluding the impact
of translation arising from foreign currency exchange rate
fluctuations.
(2) Global Brand Divisions revenues are primarily
attributable to NIKE Brand licensing businesses that are not part
of a geographic operating segment.
(3) Corporate revenues primarily consist of foreign
currency revenue-related hedge gains and losses generated by
entities within the NIKE Brand geographic operating segments and
Converse through our centrally managed foreign exchange risk
management program.
 
                                                                                                                                                    
                                                                                                                      NIKE, Inc.
                                                                                                      SUPPLEMENTAL NIKE BRAND REVENUE DETAILS(1)
                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                       % Change
                                                                                                                                                                                                                                       Excluding
                                                                                                                                 YEAR ENDED                                                             %                              Currency
(Dollars in millions)                                                        5/31/2015     5/31/2014  Change        Changes(2)
----------------------------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
NIKE Brand Revenues by:
   Sales to Wholesale Customers                                                                                 $    21,952                                         $    20,683                        6%                                 10%
   Sales Direct to Consumer                                                                                           6,634                                               5,304                        25%                                29%
   Global Brand Divisions(3)                                                      115           125     -8%             -2%
----------------------------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
Total NIKE Brand Revenues                                                                    $    28,701                      $    26,112     10%             14%
----------------------------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
                                                                                                                                                                                                                                  
NIKE Brand Revenues on a Wholesale Equivalent Basis:(4)
   Sales to Wholesale Customers                                                                                 $    21,952                                         $    20,683                        6%                                 10%
   Sales from our Wholesale Operations to Direct to Consumer Operations         3,881         3,107     25%             29%
----------------------------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
Total NIKE Brand Wholesale Equivalent Revenues                                               $    25,833                      $    23,790     9%              13%
----------------------------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
                                                                                                                                                                                                                                  
NIKE Brand Wholesale Equivalent Revenues by:(4)
   Men’s                                                                                                        $    14,694                                         $    14,001                        5%                                 9%
   Women’s                                                                                                            5,724                                               4,971                        15%                                20%
   Young Athletes’                                                                                                    4,301                                               3,737                        15%                                19%
   Others(5)                                                                    1,114         1,081     3%              7%
----------------------------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
Total NIKE Brand Wholesale Equivalent Revenues                                               $    25,833                      $    23,790     9%              13%
----------------------------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
                                                                                                                                                                                                                                  
NIKE Brand Wholesale Equivalent Revenues by:(4)
   Running                                                                                                      $     4,853                                         $     4,623                        5%                                 9%
   Basketball                                                                                                         3,715                                               3,119                        19%                                21%
   Football (Soccer)                                                                                                  2,246                                               2,413                        -7%                                -2%
   Men’s Training                                                                          2,537                                               2,483                        2%                                 4%
   Women’s Training                                                                        1,279                                               1,145                        12%                                16%
   Action Sports                                                                                                        736                                                 738                        0%                                 4%
   Sportswear                                                                                                         6,596                                               5,742                        15%                                20%
   Golf                                                                                                                 771                                                 789                        -2%                                0%
   Others(6)                                                                    3,100         2,738     13%             17%
----------------------------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
Total NIKE Brand Wholesale Equivalent Revenues                                               $    25,833                      $    23,790     9%              13%
----------------------------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- --------------------
                                                                                                                                                                                                                                  
(1)Certain prior year amounts have been reclassified to
conform to fiscal 2015 presentation. These changes had no impact on
previously reported results of operations or shareholders’ equity.
(2)Fiscal 2015 results have been restated using fiscal 2014
exchange rates for the comparative period to enhance the visibility
of the underlying business trends excluding the impact of
translation arising from foreign currency exchange rate fluctuations.
(3)Global Brand Divisions revenues are primarily
attributable to NIKE Brand licensing businesses that are not part of
a geographic operating segment.
(4)References to NIKE Brand wholesale equivalent revenues
are intended to provide context as to the total size of our NIKE
Brand market footprint if we had no Direct to Consumer operations.
NIKE Brand wholesale equivalent revenues consist of 1) sales to
external wholesale customers, and 2) internal sales from our
wholesale operations to our Direct to Consumer operations which are
charged at prices that are comparable to prices charged to external
wholesale customers.
(5)Others include all unisex products, equipment and other
products not allocated to Men’s, Women’s and Young Athletes’, as
well as certain adjustments that are not allocated to products
designated by gender or age.
(6)Others include all other categories and certain
adjustments that are not allocated at the category level.
 
                                                                                                                                                                                       
                                                                                                                                                          NIKE, Inc.
                                                                                                                                            EARNINGS BEFORE INTEREST AND TAXES(1,2)
                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                                                                                                                                           
                                                                                              THREE MONTHS ENDED                                                         %                                                        TWELVE MONTHS ENDED                                                               %
(Dollars in millions)                         5/31/2015     5/31/2014  Change      5/31/2015     5/31/2014         Change
---------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- --------------------
North America                                                                    $     1,060                                         $       888                         19%                                         $     3,645                                         $     3,077                                       18%
Western Europe                                                                           277                                                 192                         44%                                               1,277                                                 855                                       49%
Central & Eastern Europe                                                                  71                                                  71                          0%                                                 247                                                 279                                      -11%
Greater China                                                                            266                                                 215                         24%                                                 993                                                 816                                       22%
Japan                                                                                     38                                                  39                         -3%                                                 100                                                 131                                      -24%
Emerging Markets                                                                         192                                                 271                        -29%                                                 818                                                 952                                      -14%
Global Brand Divisions(3)                        (626)         (549)     -14%       (2,263)       (1,993)                   -14%
---------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- --------------------
TOTAL NIKE BRAND                                 1,278         1,127      13%         4,817         4,117                    17%
---------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- --------------------
Converse                                                                                  80                                                  94                        -15%                                                 517                                                 496                                        4%
Corporate(4)                                     (302)         (301)       0%       (1,101)       (1,036)                    -6%
---------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- --------------------
TOTAL EARNINGS BEFORE INTEREST AND TAXES                      $     1,056                      $       920      15%                      $     4,233                      $     3,577                    18%
---------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- ------ -------------------- -------------------- --------- -------------------- -------------------- --------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                           
(1) The Company evaluates performance of individual
operating segments based on earnings before interest and taxes
(commonly referred to as "EBIT"), which represents net income before
interest expense (income), net and income taxes.
(2) Certain prior year amounts have been reclassified to
conform to fiscal 2015 presentation. These changes had no impact
on previously reported results of operations or shareholders’
equity.
(3) Global Brand Divisions primarily represent demand
creation, operating overhead, information technology and product
creation and design expenses that are centrally managed for the
NIKE Brand. Revenues for Global Brand Divisions are primarily
attributable to NIKE Brand licensing businesses that are not part
of a geographic operating segment.
(4) Corporate consists of unallocated general and
administrative expenses, which includes expenses associated with
centrally managed departments, depreciation and amortization
related to the Company’s corporate headquarters, unallocated
insurance and benefit programs, certain foreign currency gains and
losses, including certain hedge gains and losses, corporate
eliminations and other items.
 
                                                        
                                                              NIKE, Inc.
                                          NIKE BRAND REPORTED FUTURES GROWTH BY GEOGRAPHY(1)
                                                          As of May 31, 2015
                                                                                                                   
                                                       Reported Futures                                            Excluding Currency
                      Orders               Changes(2)
================================= ==================== ================ ==================== ==================== ====================
North America                                                 13%                                                          13%
Western Europe                                               -11%                                                          14%
Central & Eastern Europe                                      -9%                                                          17%
Greater China                                                 20%                                                          22%
Japan                                                         1%                                                           20%
Emerging Markets                          -14%                    2%
--------------------------------- -------------------- ---------------- -------------------- -------------------- --------------------
Total NIKE Brand Reported Futures          2%                     13%
--------------------------------- -------------------- ---------------- -------------------- -------------------- --------------------
                                                                                                                   
(1) Futures orders for NIKE Brand footwear and apparel
scheduled for delivery from June 2015 through November 2015. The
U.S. Dollar futures orders amount is calculated based upon our
internal forecast of the currency exchange rates under which our
revenues will be translated during this period.
The reported futures orders growth is not necessarily indicative of
our expectation of revenue growth during this period. This is due to
year-over-year changes in shipment timing, changes in the mix of
orders between futures and at-once orders and because the
fulfillment of certain orders may fall outside of the schedule noted
above. In addition, exchange rate fluctuations as well as differing
levels of order cancellations, discounts and returns can cause
differences in the comparisons between futures orders and actual
revenues. Moreover, a portion of our revenue is not derived from
futures orders, including at-once and closeout sales of NIKE Brand
footwear and apparel, sales of NIKE Brand equipment, sales from our
DTC operations and sales from Converse, NIKE Golf and Hurley.
(2) Reported futures have been restated using prior year
exchange rates to enhance the visibility of the underlying business
trends excluding the impact of foreign currency exchange rate
fluctuations.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20150625006309r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20150625006309/en/

SOURCE: NIKE, Inc.

NIKE, Inc. 
Investor Contact: 
Kelley Hall, 503-532-3793 
or 
Media Contact: 
Kellie Leonard, 503-671-6171


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