Page 1

Investor Contact : Paul Trussell ( 203 ) 895-9678 Media Contact : KeJuan Wilkins ( 971 ) 473-2556 NIKE , INC . REPORTS FISCAL 2022 FIRST QUARTER RESULTS BEAVERTON , Ore . , Sept. 23 , 2021 - NIKE , Inc. ( NYSE : NKE ) today reported fiscal 2022 financial results for its first quarter ended August 31 , 2021 . • • First quarter reported revenues were $ 12.2 billion , up 16 percent compared to prior year and up 12 percent on a currency - neutral basis . * NIKE Direct sales were $ 4.7 billion , up 28 percent on a reported basis and up 25 percent on a currency - neutral basis . NIKE Brand Digital sales increased 29 percent , or 25 percent on a currency - neutral basis . • Gross margin increased 170 basis points to 46.5 percent . • Diluted earnings per share for the quarter was $ 1.16 , up 22 percent . " NIKE's strong results this quarter are continued proof of our deep consumer connections , unrelenting innovation pipeline and a digital advantage that fuels our brand momentum , " said John Donahoe , President and CEO , NIKE , Inc. “ We have the right playbook to navigate macroeconomic dynamics , as we create value through our relentless drive to fuel the future of sport . ” " ** First Quarter revenues increased 12 percent , on a currency - neutral basis , with growth across all channels , led by NIKE Direct growth of 25 percent . Contributing to NIKE Direct growth was the steady normalization of owned physical retail , which grew 24 percent , exceeding pre - pandemic levels from the first quarter of fiscal 2020. NIKE Brand Digital business continued strong growth , increasing by 25 percent , led by North America growth of 43 percent . " NIKE is a growth company with a market opportunity as large as it's ever been , ” said Matt Friend , Executive Vice President and Chief Financial Officer , NIKE , Inc. " Our Q1 results illustrate how NIKE's Consumer Direct Acceleration strategy continues to fuel growth and transform our long- term financial model . ' " ** First Quarter Income Statement Review • • Revenues for NIKE , Inc. increased 16 percent to $ 12.2 billion compared to the prior year , up 12 percent on a currency - neutral basis . ° ° Revenues for the NIKE Brand were $ 11.6 billion , an increase of 12 percent to prior year on a currency - neutral basis , led by NIKE Direct double - digit growth in North America , APLA and EMEA . Revenues for Converse were $ 629 million , up 7 percent on a currency - neutral basis , led by performance in Direct to consumer in both North America and Europe . Gross margin increased 170 basis points to 46.5 percent , led by margin expansion in our NIKE Direct business , a higher mix of full - price sales and favorable changes in foreign currency exchange rates , partially offset by higher product costs primarily due to increased freight costs . Selling and administrative expense increased 20 percent to $ 3.6 billion .