Nike Chief Executive Officer Mark Parker told investors in New York yesterday to expect outlandish return in the years to come.
“Nike has unlimited opportunities and limited resources,” Parker, 54, said. “Our job is to be surgical and aggressive with these resources.”
Parker said Nike will grow annual revenue to $27 billion in 2015–that’s a 40% boost from the 19.3 billion it earned in its most recent fiscal year.
The basis for these projections is a combination of the tremendous growth Nike is seeing in its other brands such as Converse, Hurley and Umbro and the rise of middle class markets in India, China, Brazil and elsewhere.
“We always believe we are working in an infinite marketplace,” Parker said (on the same day that violent protests in Greece erupted in response to government’s imposition of austerity measures).
[via Bloomberg BusinessWeek and other first-hand reports]
