First, we will create a marketplace of the future, one more closely aligned with what consumers want and need. Your line is open. And while we continue to lead externally, we also strive to be even better internally, to meet the high bar we set for ourselves to be a truly diverse and inclusive company. Good afternoon. Last quarter, we discussed how each of our markets would progress from a business perspective as they emerge from the COVID-19 outbreak. I’d be interested to hear you talk more — Category Offense has been such a strong initiative at the company for many years. Erinn, this gets to membership and why we think membership's at the center of everything we do, and if you think about it, in simple terms, membership is a big word but in my mind it breaks down three simple things. The strength of our brand, our compelling product and innovation, our leading digital ecosystem and more are all fueling our growing separation. Q4 2020 HP Inc. Earnings Conference Call. Nike Digital growth has accelerated to triple digits. As I said a minute ago, digital is now fundamental and central to everything consumers do and we are the clear leader in digital. As I said earlier, Nike is in a position to emerge from the COVID-19 pandemic even stronger due to our Consumer Direct Offense. Thanks so much for taking my question here and thank you for all the comments and the prepared remarks. Thank you, John. We believe this digital acceleration is more indicative of a strategic shift toward a new future marketplace, rather than being a reflection of temporary challenges to the mostly physical marketplace of the past. Our last question is from John Kernan with Cowen. Thank you, operator. The response we saw from the cultural conversation around each episode to the rapid sell-through of the AJ5 Fire Red demonstrated the love for the Jordan Brand all over the world. And I might just jump in Alex and say that as John mentioned, we've been testing the Nike Live concept. Alexandra Walvis -- Goldman Sachs -- Analyst. As I mentioned in my prepared remarks, the shift-to-digital is financially accretive to Nike and we believe that this will be an enabler for us to sustain that momentum longer term. So we would appreciate you limiting your initial questions to one. Q4 FY19Q4 FY20 Q4 Fiscal 2020 Financial Highlights 4 Q4 FY19 Q4 FY20 Q4 FY20 $3,479M i3% i2% Organic Constant Currency (a) $3,377M $669M $653M $1.14 $1.14 Flat (a) For a reconciliation of these non-GAAP financial metrics to their closest comparable GAAP metrics see our Q4 fiscal 2020 earnings release available at investors.adp.com. And then how has that shaped your growth strategies around your app and just your broader digital ecosystem? Before I get into our Q4 performance, I want to take a moment to acknowledge the environment in the U.S. right now. And then how has that shaped your growth strategies around your app and just your broader digital ecosystem? Gross margin will continue in the short-term to be a function of our supply and demand management actions as we prioritize the return to normalized inventory levels in Q2. Thanks for taking my question. Your line is open. Great. In the fourth quarter our gross margin was impacted by COVID-19 and the decision that we took to prioritize cleaning and rightsizing our inventory into Q2, and so the plans that we aggressively put in place to rebalance supply and demand did have an impact on our margins in Q4, but let me break down the A20 maybe for you a little bit more. Good afternoon everyone. And then it’s really clear that increased engagement leads to increased purchases, and so the Nike commerce app saw triple-digit growth in both downloads and monthly active buyers, as well as the SNKRS app over $1 billion in first time use, and so directly connecting with consumers, engaging them with our powerful portfolio of activity apps, and then translating that into the kind of both digital and online and offline relationships where they purchase more is kind of core to the strategy that the OneNike marketplace, if you will, is designed to address that direct need. We believe this digital acceleration is more indicative of a strategic shift towards a new future marketplace, rather than being a reflection of temporary challenges to the mostly physical marketplace of the past. We’ve been testing member engagement. Thank you, John, and hello to everyone on the call. With these strengths in mind, we plan to accelerate our focus and investment on the key areas that put an even sharper point on our highest-growth opportunities. We've also been testing the concept in Shibuya in Tokyo and in the first half of the year we intend to shift two Nike-owned doors in New York to the live concept, and as we've continued to test the concept, we've been testing the assortment. You will find the appropriate reconciliations in our press release, which was issued about an hour ago or at our website investors.nike.com. And then does that increased engagement lead to greater retention and share of wallet if there are other purchases? Nike Inc (NYSE: NKE) Q4 2020 Earnings Call Jun 25, 2020, 5:00 p.m. We used our ecosystem of Nike Activity and Commerce apps to directly engage with consumers in their homes as they focus on health and wellness. These trends have sustained through the first three weeks of June and in some markets digital growth has accelerated even further. Stock Advisor launched in February of 2002. The underlying value proposition of Nike’s Consumer Direct Offense is that the consumer adoption of digital across all aspects of life now provides Nike with an opportunity to create deeper, more direct consumer relationships at-scale, without disintermediation. Gross margin decreased 820 basis points in Q4 as higher full-price average selling prices, despite increased wholesale discounts, were more than offset by higher product costs, including factory cancelation charges and increased inventory obsolescence reserves, as well as the adverse rate impact of supply chain fixed-costs on lower wholesale shipments due to COVID-19 dynamics. In an environment where most companies are solely focused on survival, Nike’s financial strength, scale and adaptability allows us to make appropriate near-term decisions while investing to fuel long-term growth. And in terms of acquiring new members in a quarter we had a phenomenal quarter, 25 million new members registered, that's up over 100%. ET. During this difficult time, Nike has inspired and offered hope, and as a result, worldwide affinity for our brand deepened during COVID-19 with our You Can’t Stop Us campaign receiving more than 2 billion impressions to-date. The power of sport will always be at our center, and product innovation will continue to drive distinction for our brand. And I think, Matt, you referenced the power of data, right, the power of that Celect acquisition where advanced analytics and data — demand sensing capabilities can allow us to get the right product as close to the consumer in the right time which offers enormous efficiency opportunities, right? In a funny way, I would characterize this investment in these new doors as continued investment in our digital future, and here’s — we look at everything through the eyes of the consumer. As we've said before, the transformation to a more digital and direct business is financially accretive to Nike. And I may just to add a little bit of color on that. And finally, we’ve invested in targeted promotions and markdowns to accelerate the liquidation of excess inventory, while we protect the long-term health of our product franchises, including increasing the volume of liquidation through our factory store fleet. Second, we implemented a plan for a seasonless flow of inventory, by shifting product offer dates so we can use relevant summer and fall product to meet near-term demand. The global pandemic has made it clear that consumer behavior is changing rapidly, providing the opportunity for us to accelerate the pace of our transformation. With these strengths in mind, we plan to accelerate our focus and investment on the key areas that put an even sharper point on our highest-growth opportunities. Do you have any color on the number of new stores that you’re planning to roll out? By the way, Andy's not on the earnings call any more, but he's working full-time as our COO on just what Matt was talking about, doing a great job and Andy and Venky [Phonetic] and I went out and saw our teams in Memphis and got to see this adapt facility that Matt talked about. Net profit, FedEx Corporation (NYSE: FDX) reported second quarter 2021 earnings results today. Hello, everyone, and thank you for joining us today to discuss Nike, Inc.'s fiscal 2020 fourth quarter and full year results. Let me walk you through three areas of strategic acceleration: the marketplace of the future, our new consumer construct and our end-to-end technology foundation. For example, in March and April, China's monthly active users on the Nike Trending app increased over 350% since the beginning of the calendar year. In Greater China, this playbook has worked, and we expect our business will return to normalized marketplace health metrics by the end of June. And I think, Matt, you referenced the power of data, right, the power of that Celect acquisition where advanced analytics and data -- demand sensing capabilities can allow us to get the right product as close to the consumer in the right time which offers enormous efficiency opportunities, right? The stats are just -- I think I listed a few of my remarks and Matt did, but NCC weekly active users which is a really important metric, because someone may only buy footwear and apparel a few times a year, but engaging with us each week maybe even each day brings Nike into their lives and so we grew weekly active users triple digits in the quarter, 25 million workouts with women alone in Q4 and that which is -- and so we think the activity levels and the engagement's growing. What's the level that you faced in the fourth quarter, obviously pretty significant, how do we think about those line items in the first quarter and as fiscal 2021 evolves? Now is the time to act. Thanks, and thanks for taking my question. The power of sport will always be at our center, and product innovation will continue to drive distinction for our brand. For those who want to reference today’s press release, you’ll find it at http://investors.nike.com. Sure, John. Let me take a few minutes to unpack each of these. Your line is open. Our purpose will continue to guide us. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. Your next question is from Matthew Boss with J.P. Morgan. They don't think in terms of performance versus sportswear. Best of luck. And Nike has a long history of standing up against inequality, driven by our values and rooted in the power of sport. Over 50 Finance June 26, 2020 comments off. Can you just talk through the major strategy that you have, the flexibility that you have to sort of utilize your outlets versus off-price versus the digital piece of it? Simply put, we will more aggressively leverage technology to make Nike better. Best of luck. In Q4, Greater China and South Korea returned to growth. 35 mins ABM Industries Incorporated’s (ABM) CEO Scott Salmirs on Q4 2020 Results – Earnings Call Transcript Seeking Alpha 35 mins It’s unusual for a big company like Nike to announce earnings on a Friday after the bell Yahoo Finance We've talked about membership as a growth driver and differentiator before, but now we'll align our business to make it central to everything we do. And consumers, as you know, are becoming accustomed to getting what they want, when they want it, how they want it, right? We started in Melrose in Southern California. Third, we’re seeing a true step-function change in our digital transformation. We will be investing, but we're going to try to -- we're going to accommodate it within the confines of our existing financial model. With that, let's turn to our reported operating segments. Could you just talk a little bit more about that like what that means and going forward? This is accelerating it and refining it so that we're more directly connected to the biggest opportunities. Now, Matt will go deeper on Q4 in a minute, so I’ll just hit on five quick observations from the quarter. Fourth quarter diluted net loss per share was $0.51, reflecting lower revenue and gross margin related to COVID-19 partially offset by lower SG&A expenses. Your line is open. It’s complementary to what we’re already doing and our partners are doing, and at the end of the day, we believe that Nike-owned physical and digital working hand-in-hand with our key partners online and offline, we can create one Nike marketplace that meets the demand of consumers now and in the future. Home News Nike Inc (NKE) Q4 2020 Earnings Call Transcript. John Donahoe -- President and Chief Executive Officer. The response we saw from the cultural conversation around each episode to the rapid sell-through of the AJ5 Fire Red demonstrated the love for the Jordan Brand all over the world. In fact, we are already seeing inventory levels globally improve as well, and with our deliberate actions, we are confident that Nike inventory will be rightsized and in a normal position in Q2. This quarter was certainly like no other in Nike's history. We believe this will be additive to what's in the market. With that, we’ll now open the call for questions. Since February, the Nike Commerce App has been downloaded more than 8 million times, an increase that's triple last year's level, proving the power of our investment in digital. We’re seeing that members engage more frequently is serving to help us retain members and so as John mentioned, this is why we see this as being a catalyst to digital growth, having local stores that members can engage with. Sure, John. ET. For Nike, FY20 was a year that proved the power of our competitive advantages – and the opportunity we have to accelerate them. Your next question is from Bob Drbul with Guggenheim. So what we're talking about here is how do we take what might have taken us three to five years to make happen and make it happen in two? SG&A declined 6% in Q4. We will continue to do this while managing SG&A tightly in the first half of fiscal year 2021. Nike Inc (NKE) Q4 2020 Earnings Call Transcript. But third and directly to your question is aligning our organization against, A, a more simple construct of Men's, Women's and Kid's, but also ones that help us unlock what we think are great growth opportunities, right? I guess I have a couple of questions on the inventory and I think the plan to sort of have it rightsized by the second quarter. Simply put, we have operating principles in place to prudently manage costs in the short term while we scale investment in key capabilities underpinning our digital transformation. The strength of our brand, our deep connections to consumers and our unmatched product innovation give us an advantage to create and define our future. Now is the time to act. We know that our consumers don’t see themselves as only runners or Yoga practitioners. Our business results over the last seven quarters pre-COVID-19 proved this point. Returns as of 12/20/2020. Given the uncertainty that still remains we will not be providing specific guidance. With that, we'll now open the call for questions. Your line is open. Better margins? Operator, I think we have time for one more question. The net result of these two marketplace dynamics was that Nike, Inc. Q4 revenue declined 38% on a reported basis, And yet, even in the midst of this global pandemic, we saw the power and distinction of the Nike brand translate into growing business momentum throughout the quarter, continuing into June. Sure, Jay. It’s important to note that the decline in SG&A in the quarter included a roughly $180 million charge related to bad debt reserves. 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