CLAIM #46270 · Nike Inc (NKE) · 2023Q3 earnings call · Mar 21, 2023 · due May 31, 2024
“And that focus and attention on expense growth or managing expense growth and head count growth, we definitely intend to carry into our next fiscal year.”
Matt Friend · CFO
In context
“se growth tightly, and we would reduce our planned head count growth. And we've absolutely done that over the last two quarters and feel very good about the momentum that we've been making with regards to ensuring that our resources are flowing towards the priorities that we have. And we've got some exciting things that are going to land from a transformation perspective in the next six months. When you step back even further, our revenue guidance at that point in time was for low single-digit to mid-single-digit revenue growth. And given the brand momentum that we're seeing, our updated revenue guidance now being high single-digit revenue growth, I'm actually quite proud that we've been able to manage expense growth on a variable basis even as we've seen our revenue continue to increase. And that focus and attention on expense growth or managing expense growth and head count growth, we definitely intend to carry into our next fiscal year. As it relates to your question about ASPs and pricing, we've increased prices this year mid-single digits on average across our portfolio. As I think I've said in prior quarters, it wasn't a peanut butter across every product in style. It was a surgical approach, but on average, it averages out to mid-single-digit growth. As we look ahead to next year, we're absolutely continually looking at the profitability of our product, we're looking at inflationary costs in supply chain and also inflationary costs that are impacting the make of our product. And we will continue to focus on managing those levers together in order to try to drive profitable growth going forward. I'll give you more guidance next quarter on the specifics, but that's absolutely our strategy and the way that we've been ma”
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SEC filings for NKE ↗ · Claim quote is verbatim from the 2023Q3 earnings call.