Nike

Nike, Inc., stylized as NIKE, stands as a prominent American corporation headquartered near Beaverton, Oregon, United States. Renowned for its athletic footwear and apparel, Nike holds the distinction of being the world's largest supplier in this domain, alongside its stature as a leading manufacturer of sports equipment. Nike's expansive portfolio encompasses products marketed under its own brand, as well as Nike Golf, Nike Pro, Nike+, and subsidiaries like Air Jordan and Converse. Over the years, Nike has expanded its influence through strategic acquisitions, including the ownership of Bauer Hockey, Cole Haan, Umbro, and Hurley International. The company also operates retail outlets under the Niketown banner and sponsors a multitude of high-profile athletes and sports teams globally. Central to its brand identity are iconic trademarks such as, ‘Just Do It’ and the Swoosh logo, which resonate deeply with consumers worldwide. NIKE, Inc. reported a 10% increase in revenues to $51.2 billion, driven by growth in the NIKE Brand and NIKE Direct. The gross margin decreased to 43.5% due to higher costs. Selling and administrative expenses rose by 11% to $16.4 billion, while operating overhead expenses increased by 12% to $12.3 billion. The effective tax rate was 18.2%, resulting in a net income of $5.1 billion, down 16% from the previous year, with diluted earnings per share at $3.23, down 14%. For any complaints against Nike, there is a platform to file the complaints. Our Vakilsearch experts will assist you with that.