For the full year, Nike net income more than doubled to $4,029 million from $1,933 million, lapping the $2 billion one-time tax on foreign earnings incurred in fiscal 2018 due to the Tax Cuts and Jobs Act, on revenues that increased 7% to $39,117 million from $36,397 million. The DTC business increased 13% for the year including a +6% store comp and a 35% surge in e-commerce sales, and Nike Direct now makes up 31.6% of total revenues up from 30.2% in FY18.

Sales gains for the year were balanced between footwear, up 9% to $24,222 million, and apparel, up 8% ... Log in to view full article.