Nike Inc. (ticker:NKE) reported its fourth quarter and full year results on Monday June 27,2005. Below are some highlights:
1) Lehman Brothers analyst Robert Drbul called their fiscal year "a year for the recordbooks." (in terms of revenue growth)
2) Nike posted strong growth in same store sales from China, sales nearly doubled from the previous year. Nike projects strong growth from China in the future and sees an impact from the 2008 olympics in Beijing.
3) On the negative side, Nike told analysts during its conference call that fiscal first quarter revenue is supposed to come in at the low end at the company's 7% to 9% forecast.
4) Nike could be vulnerable to further appreciation in the dollar, as more than half of the company's sales come from overseas.