Nike Inc. is confident it can hit $36 billion in sales by 2017, driven by increases in apparel, women’s and direct-to-consumer.
“We’ve never been better positioned to capitalize on the opportunities ahead of us,” Nike President and CEO Mark Parker said in a statement. “We have a strong management team and we are accelerating our innovation agenda to create products and services that drive growth in the marketplace, deliver exciting retail experiences globally and expand the capabilities of our powerful supply chain.”
While growth is expected across all categories and geographic regions, the firm said it is counting on apparel increasing to $10 billion, from $7.5 billion today; the women’s business expanding to $7 billion, from 4 billion; and the direct-to-consumer business rising to $2 billion, from under $550 million.
The athletic company announced its goals at an analyst day held at its global headquarters in Beaverton, Ore. Nike also affirmed that it expects sales of $30 billion in fiscal year 2015, at the high end of the $28 billion-to-$30 billion range it had previously announced.