With that, I’ll now turn the call over to Matt. Now, we know this is a multi-year journey and we have a bright future and lots of opportunity, but in many ways, we’re just getting started. Operating overhead expense decreased 1 percent to $2.3 billion as lower travel and related expenses were slightly offset by restructuring costs and continued investments in digital capabilities, both of which are associated with the Consumer Direct Acceleration, the next digitally empowered phase of our strategy. We obviously believe that scale for our digital business is going to drive significant financial benefits as we continue to grow the size of that business and leverage the capabilities that we continue to develop. NIKE inventory levels have improved since May, with Q1 inventory growing 15% versus prior year as compared to 31% growth in Q4 and is on track to be normalized in the next 60 days. And so, what we’re going to be focused on over the next 90 to 120 days is continuing to clean our inventory, continuing to create those consumer connections like we’ve been talking about and really focus on our OneNike marketplace strategy, exiting undifferentiated wholesale distribution and focusing on the opportunities that we see for NIKE Direct and our strategic partners and we believe that this strategy will fuel growth and profitability in line with the long-term financial model that we’ve previously communicated. Wedbush currently has a “Outperform” rating and a $107.00 target price on the stock. And we expect Q2 will probably be more promotional than what we saw in Q1 because of holiday, the seasonal consumer moments like 11.11 in China, and then this year, we’ve got Cyber Monday in Q2, whereas last year it slipped into Q3 and we also are seeing despite our strong performance a lot of inventory, still in the marketplace. [Speech Overlap] Operator, we have time for one more question. • First quarter reported revenues were $10.6 billion, down 1 percent on a reported basis and flat Nike Inc. (NKW) held their Q1 FY21 earnings conference call on September 22, 2020. We also push what’s possible in sport as seen in the latest launch of our NIKE NEXT% footwear platform. And so, whether it is the manufacturing through supply chain and the automation opportunities that exists, whether it’s using robotics or other ways to improve the efficiency and effectiveness. We’ve already deployed this automation in North America, Japan and EMEA and we’ll continue to scale these critical improvements further as delivery becomes increasingly important in consumer buying decisions. Thanks for taking my question and thanks for all the information. Nike Shares Soar To Record High As Digital Sales Surge Leads Q1 Earnings Beat. Over the past quarter, we continued to prove this out across four key areas. And while we will need to continue investments to expand digital fulfillment capacity, we can improve operational efficiency through predictive modeling tools, data driven member personalization and inventory staging. Estimates: Nike earnings per share are seen collapsing 97% to 2 cents, according to Zacks Investment Research.Revenue is seen … Is it an ever lower customer acquisition cost? And so we’re assuming that there will continue to be some promotional activity in the second half of the year to maintain conversion rates and unit velocity as we keep, as we continue to operate through the balance of the year. Another example is how our organizational restructuring will simplify the way we work, eliminate duplication and redundancy and realign our resources to focus on our biggest growth opportunities. Thanks. Despite the uncertainty regarding the impacts of the coronavirus outbreak, the company updated its guidance for fiscal 2021 based on the robust first-quarter results. Inc. President and CEO, John Donahoe. And third, lower physical traffic in our NIKE owned stores versus last year, although substantially improved versus the prior quarter. Is it greater data capabilities? Just this month, you saw Naomi Osaka give voice to the Black Lives Matter movement by sitting out the finals of the tournament just prior to the US Open before returning to the US Open and winning it. We look forward to speaking with you next quarter. Transcribe Your Own Content. But yeah, so it starts with where John was in his prepared remarks. Therefore, each market recovery will not be linear and the comparisons with prior year will become increasingly less intuitive. Any reproduction, redistribution or retransmission is expressly prohibited. Way to go. And you go shoot baskets in the driveway. Nike shares soared 13% in extended trading Tuesday as the company reported an 82% increase in online sales and offered up an outlook that calls for demand to grow through the holidays.The company has used the coronavirus pandemic as an opportunity to accelerate its digital business, and its women's apparel division grew nearly 200%. I just love the Venus and Serena spot, it just celebrates the power sport has in connecting with consumers. So, I think all of us view this as a real opportunity. BEAVERTON, Ore., Sept. 22, 2020 — NIKE, Inc. (NYSE:NKE) today reported fiscal 2021 financial results for its first quarter ended August 31, 2020. Welcome to NIKE, Inc.’s Fiscal 2021 First Quarter Conference Call. Nike Inc (NYSE:NKE) – Investment analysts at Piper Sandler lifted their Q1 2021 EPS estimates for shares of Nike in a note issued to investors on Wednesday, September 16th. Our digital business grew 83% in Q1 on a currency neutral basis. Nike's fiscal second-quarter earnings and sales topped analysts' expectations, as the sneaker maker reported strong digital growth. At the same time, we are managing our business to deliver financial results that will set a strong foundation for growth and profitability in fiscal year ’22 and beyond. This leads me to the second theme. For the full year, we now expect gross margin to be flat versus prior year, including 40 basis points of foreign exchange headwinds. First, as discussed on previous earnings calls, we implemented an enterprise-wide operational plan at the onset of the pandemic. Earnings per share: 78 cents vs. 62 cents, expected Revenue: $11.24 billion vs. $10.56 billion, expected As of market close on Friday, Nike shares have surged more than 37% this year. Stocks. Despite varied recovery curves and macroeconomic dynamics, our geographies have some key themes in common in Q1. And over the past three months, as most companies focused on just surviving, we are continuously bringing forward new compelling product to market. We will use data at to stay a step ahead and help us create a better product as consumer insights power our business end-to-end towards even greater growth. And now that consumers have access to this innovation, we’ve heard from many that they’re running their fastest times ever. Revenues for Converse were $563 million, up 2 percent on a currency-neutral basis, mainly driven by strong demand in Europe and in digital, globally. Earnings. All in all, from the cultural residents of our brand to our expansion of what sport can mean, Q1 was a quarter that showed our relentless focus on deepening connections with our consumers matters. And by doing that, we should be able to also drive additional operating margin expansion. 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