Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
Web sales and direct-to-consumer revenue grew 25% and 12.5%, respectively.
E-commerce sales ran ahead of all other channels for Nike Inc. for the 2010 fiscal year.For the fiscal year ended May 31, Nike, No. 48 in the Internet Retailer Top 500 Guide, recorded:
An increase in web sales of 25% to about $260 million from about $208 million in fiscal 2009, CEO Mark Parker told Wall Street analysts on the company’s year-end earnings call.
- Direct-to-consumer revenue, which includes factory-owned stores, online and other direct market sales, increased 12.5% to about $2.5 billion from about $2.223 billion in the prior year.
- Total sales decreased 0.8% to $19.014 billion from $19.176 billion in fiscal 2009.
- Net income increased 28.3% to $1.906 billion from $1.486 billion in the prior year.
“Revenue from direct-to-consumer, our Nike-owned stores and online business increased 12% and that’s a record,” Parker said. “We did it online which is up 25% for the year. And that includes NikeiD, our online custom-design app, which surpassed $100 million for the first time.” The web site for NikeiD, which allows shoppers to customize the gear they intend to purchase, was redesigned in August 2008.
Internet Retailer calculates that the web accounted for 1.4% of total sales in fiscal 2010 compared with 1.1% in fiscal 2009.
Though Nike didn’t break out specific e-commerce or direct-to-consumer revenue for the fourth quarter, Nike did report:
- An increase in web sales of 27% and in direct-to-consumer revenue of 19%.
- An increase in total sales of 7.7% to $5.076 billion from $4.713 billion in Q4 2009.
- A 52.9% increase in net income to $521.9 million from $341.4 billion in Q4 2009.
“We finished strong with a great quarter and accelerating momentum across the business,” said Parker.