Nike Doesn't Back Down From $50 Billion USD Target During Investors Day

However it did move the forecasted date.

By //Fashion

CEO Mark Parker hosted Nike‘s annual Investors Day in Portland earlier this afternoon, detailing the company’s past performance as well as expectations for the next few years. Investors must have liked what they heard because shares for $NKE have jumped more than two percent.

The main question on everyone’s mind was whether or not Parker would back down from his 2015 forecast of $50 billion USD by 2020 as a result of weakening markets and surging competitors. Mark didn’t address the elephant in the room during the conference, but took to CNBC’s “Closing Bell” program later in the day to inform viewers that the benchmark is still very much attainable, however it’ll take another two years (2022) to reach it.

Nike cites a shift from “undifferentiated” retail channels to more direct-to-consumer measures, along with focuses on innovation, women’s footwear, digital, and global expansion will aide its bullish revenue targets. The sportswear company further stated that it expects earnings-per-share growth in the mid-teens over the next five years, along with revenue growth in the high-single digits over the same period.

Watch Parker’s interview with CNBC below, then read a few recap tweets from journalists following Nike’s Inverstors Day.

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CNBC
NikeMark ParkerNike Investor Day

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