Nike Inc. reported on Wednesday that it fiscal fourth quarter sales fell 7 percent to $4.7 billion, compared with $5.1 billion in the same period a year ago. The Beaverton, Oregon-based firm said excluding changes in currency exchange rates, net revenue was essentially flat with the same period last year.
Net income in the quarter fell 30 percent to $341.4 million
The company expects orders for athletic footwear and apparel from June to November to fall by 12 percent to $7.8 billion. Excluding currency changes, reported orders would have declined 5 percent, the company said.