Nike has presented its mid-term plans for future growth to investors. The group intends to increase total sales by 63 percent from now through the 2020 financial year. This goal will be achieved by an annual growth rate in the high single-figures or low double-figures, while earnings per share should increase to the mid-teens. The overall target is for sales to exceed $50 billion by 2020.
In geographical terms, Nike expects to grow in the high single digits in the more developed markets such as North America, Europe and Japan with North America to reach revenues of $20 billion. In developing regions, like the emerging markets, Greater China and Central/Eastern Europe, Nike hopes to hit an average annual growth rate into double-figures at least.
By categories, the target is to reach a turnover of $11 billion in the women’s segment by 2020, $7.5 billion in running and $4.5 billion for the Jordan basketball label.
A webcast of Nike’s investors’ day held yesterday is available to view here.