US: Nike targets US$27bn revenue by 2015
World-leading sportswear company Nike is targeting revenues of US$27bn by the end of fiscal 2015, led by growth in emerging markets and hundreds of new Nike stores.
At the company’s investor meeting in New York, president and CEO Mark Parker claimed Nike had “never been more inspired, innovative and aligned to achieve our goals”.
The targets equate to high single-digit revenue growth per year, as well as mid-teens earnings per share growth and a 25% return on invested capital.
Much of the planned growth continues to centre on the Nike brand, which currently accounts for about 85% of company revenues.
Nike is aiming to grow revenues in mature markets like North America and Western Europe in the mid-single digits, while emerging markets like China and central and eastern Europe have a low double-digit revenue growth target.
The company plans to open 250-300 new Nike-branded stores around the world in the next five years, spending up to $600m over the same period on new stores and retail support.
But wholesale revenues will continue to dominate, and are expected to account for more than 80% of Nike’s business by 2015.
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