Nike Q4 revenue increased greatly
Fourth quarter revenue increased to $9.8 billion driven by strong double digit revenue growth in international markets and Nike Direct globally, and a return to growth in North America.
Diluted earnings per share for the fourth quarter rose 15 percent to $0.69, primarily due to strong revenue growth, gross margin expansion, a lower tax rate and a lower average share count, which were partially offset by higher selling and administrative expense.
The Company also announced that its Board of Directors has authorized a new four-year, $15 billion program to repurchase shares of NIKE’s Class B Common Stock.
The Company anticipates that the current $12 billion share repurchase program will be completed within fiscal 2019, and the new program will commence upon the completion of the current program. ■