NIKE raises FY15 revenue target to $28-30 billion

Press release
Published June 30th, 2011 - 12:17 GMT

NIKE today provided an overview of its fiscal 2011 results and reviewed progress on key strategic initiatives to achieve sustainable, profitable long-term growth across its global portfolio of brands. During an investor meeting at its world headquarters in Beaverton, Ore., the Company increased its fiscal 2015 revenue target to a new range of $28-30 billion, up from its previous target of $27 billion announced in May 2010. Additionally, the Company reaffirmed its goal of generating $12 billion of cumulative free cash flow from operations from fiscal 2011 through fiscal 2015. Both goals extend NIKE, Inc.’s long-term financial model of high single-digit revenue growth, mid-teens earnings per share growth and expanding returns on capital.

"Our fiscal 2011 results demonstrate that NIKE, Inc. has made substantial progress to deliver our 2015 global growth strategy and objectives,” said NIKE, Inc. President and CEO Mark Parker. “Our ability to create innovative product and exciting retail destinations, while leveraging our powerful supply chain and strong balance sheet, allows us to attack the biggest opportunities to continue transforming the global marketplace.”

“While the last 12 months have revealed many changes in the world, the dynamic operating environment also underscores the considerable strengths of the NIKE, Inc. portfolio,” continued Parker. “At NIKE, Inc. we run a complete offense, and it’s based on a core commitment to innovation. That’s how we stay opportunistic, serve the athlete, reward our shareholders, and continue to lead our industry.”

Background Information

Nike

Our mission is what drives us to do everything possible to expand human potential. We do that by creating groundbreaking sport innovations, by making our products more sustainably, by building a creative and diverse global team and by making a positive impact in communities where we live and work.

Based in Beaverton, Oregon, NIKE, Inc. includes the Nike, Converse, Hurley, and Jordan brands.

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