Nike boss outlines new ambitious financial goals

The world’s largest sports apparel company, Nike Inc, today announced new ambitious goals and targets over the next five years.

Nike CEO Mark Parker today said the company is aiming to grow sales to $27-billion in five years, an increase of more than 40-percent compared to sales in the latest fiscal year.

The remarks were made at a company analyst conference late afternoon in New York City.

The top boss at the company says the goals would be achieved by opening more stores in prime locations around the world, and with a stronger emphasis on penetrating emerging markets, primarily China.

 More specifically, Nike is focused on increasing market share in the global apparel business (particularly in emerging markets), as that fragmented segment represents the most sales and future opportunity for the firm. Additionally, Nike is looking at expanding it’s Converse brand, and is aiming to double the brand value to $2-billion within five years.

In the second quarter (ended December 17, 2009), Nike reported total revenue of $4.4-billion, down marginally by 4-percent YoY. In that period alone, 38-percent of revenue reported in that period was attributable to sales from emerging markets.

The company is now looking forward to the Africa World Cup in June, where it is expected to debut new products to take advantage of the popular global sporting event.

Additionally, Nike was one of the few sponsors of Tiger Woods that decided to stay with the golf superstar following his marital scandal.

Nike shares today (NYSE:NKE) are trading down 1.75-percent to $76.84 per share just one hour before of the closing bell in New York City.

tag TAGS:
Short URL:
b2p Ensure that you follow us on Twitter and Like us on Facebook
Peggy holds a Bachelor Arts degree with honors in Economics from York University in Toronto, Canada. She is a Certified Management Accountant (CMA). She has also passed Level I of the Chartered Financial Analyst (CFA) Program. She is also a realtor. Write to [email protected]
We are perfectly committed to the highest ethical and professional codes of conduct and standards in the industry on a firm wide basis. Learn more about us, our contributors, and our governance
We encourage you to comment. Comments are moderated. Comments that are abusive, off-topic, have marginal substance, or include promotional content will be removed. We cannot facilitate requests to edit or remove comments, or explain moderation decisions

Business 2.0 Press publishes exclusive business tech news and analysis covering start-ups to large-caps from Bay & Wall streets since 2008 from a group of highly knowledgeable industry professionals that abide by the toughest industry codes of conduct and professional standards lightMore

lightAdd value by subscribing (RSS)

logo has the most stock ratios for public companies. Get the most comprehensive micro insight on public firms available on the web, all for free.
Stock Fractionsgo


Colon cancer is one of the leading causes of death. Irrespective of family history, everyone is exposed to the risk. About 90% of colon cancer cases begin from non-cancerous tumors, polyps, which could form in the large bowel. Screening with a colonoscopy will painlessly remove any polyps hence almost entirely reducing your risk of developing the horrible disease. The good news is that about 90% of colon cancer cases are preventable through a simple (yes, simple) colonoscopy.
Learn moreatom
Public service message from Business 2.0 Press