3 unchanged sentences
We carry out a variety of ongoing procedures, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, to evaluate the effectiveness of the design and operation of our disclosure controls and procedures.
−Removed: Based on the foregoing, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of February 29, 2024.
−Removed: We are continuing several transformation initiatives to centralize and simplify our business processes and systems.
−Removed: These are long-term initiatives, which we believe will enhance our internal control over financial reporting due to increased automation and further integration of related processes.
−Removed: We will continue to monitor our internal control over financial reporting for effectiveness throughout these transformation initiatives.
−Removed: There have not been any changes in our internal control over financial reporting during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
+Added: Based on the foregoing, our Chief Executive Officer and Chief Financial Officer concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of August 31, 2024.
+Added: During the first quarter of fiscal 2025, we implemented a new ERP Platform in our North America geography.
+Added: As a result, there were changes to certain processes which resulted in changes to our internal control over financial reporting.
+Added: For a discussion of risks related to the implementation of new systems, see Part 1, Item 1A, Risk Factors, in the Company’s most recent Annual Report on Form 10-K.
+Added: There have not been any other changes in our internal control over financial reporting during our most recent fiscal quarter that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.
SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND ANALYST REPORTS
−Removed: Certain written and oral statements, other than purely historic information, including estimates, projections, statements relating to NIKE's business plans, objectives and expected operating or financial results and the assumptions upon which those statements are based, made or incorporated by reference from time to time by NIKE or its representatives in this report, other reports, filings with the SEC, press releases, conferences or otherwise, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Exchange Act.
+Added: Certain written and oral statements, other than purely historic information, including estimates, projections, statements relating to NIKE's business plans, objectives and expected operating or financial results and the assumptions upon which those statements are based, made or incorporated by reference from time to time by NIKE or its representatives in this report, other reports, filings with the SEC, press releases, conferences or otherwise, are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "believe," "anticipate," "expect," "estimate," "project," "will be," "will continue," "will likely result" or words or phrases of similar meaning.
1 unchanged sentence
The risks and uncertainties are detailed from time to time in reports filed by NIKE with the SEC, including reports filed on Forms 8-K, 10-Q and 10-K, and include, among others, the following:
−Removed: risks relating to the enterprise initiative, including the risk that NIKE is not able to identify opportunities to deliver anticipated cost savings, risks related to the preliminary nature of the estimate of the charges to be incurred in connection with the enterprise initiative, which is subject to change as NIKE refines the estimate over time, risks related to any delays in the timing for implementing the initiative or potential disruptions to NIKE's business or operations as it executes on the initiative, and other factors that may cause NIKE to be unable to achieve the expected benefits of the initiative;
−Removed: the size and growth of the overall athletic or leisure footwear, apparel and equipment markets;
+Added: risks relating to our executive transition, risks relating to our multi-year enterprise initiative, including the risk that NIKE is not able to identify opportunities to deliver anticipated cost savings, risks related to any delays in the timing for implementing the initiative or potential disruptions to NIKE's business or operations as it executes on the initiative, and other factors that may cause NIKE to be unable to achieve the expected benefits of the initiative;
intense competition among designers, marketers, distributors and sellers of athletic or leisure footwear, apparel and equipment for consumers and endorsers;
NIKE's ability to successfully innovate and compete in various categories;
+Added: new product development and innovation;
demographic changes;
−Removed: changes in consumer preferences;
+Added: changes in consumer preferences and channel mix;
popularity of particular designs, categories of products and sports;
seasonal and geographic demand for NIKE products;
−Removed: difficulties in anticipating or forecasting changes in consumer preferences, consumer demand for NIKE products and the various market factors described above;
−Removed: international, national and local political, civil, economic and market conditions, including high, and increases in, inflation and interest rates;
+Added: difficulties in anticipating or forecasting, and responding to changes in consumer preferences, consumer demand for NIKE products, changes in channel mix and the various market factors described above;
+Added: the size and growth of the overall athletic or leisure footwear, apparel and equipment markets;
+Added: international, national and local political, civil, economic and market conditions, including high and increasing inflation and interest rates;
our ability to execute on our sustainability strategy and achieve our sustainability-related goals and targets, including sustainable product offerings;
6 unchanged sentences
increases in the cost of materials, labor and energy used to manufacture products;
−Removed: new product development and introduction;
the ability to secure and protect trademarks, patents and other intellectual property;
15 unchanged sentences
the effects of NIKE's decision to invest in or divest of businesses or capabilities;
−Removed: health epidemics, pandemics and similar outbreaks, including the COVID-19 pandemic;
+Added: health epidemics, pandemics and similar outbreaks;
and other factors referenced or incorporated by reference in this report and other reports.
5 unchanged sentences
LEGAL PROCEEDINGS
−Removed: Refer to Note 12 — Contingencies within the accompanying Notes to the Unaudited Condensed Consolidated Financial Statements, which is incorporated by reference herein.
+Added: Refer to Note 11 — Commitments and Contingencies within the accompanying Notes to the Unaudited Condensed Consolidated Financial Statements, which is incorporated by reference herein.
There have been no material changes in our risk factors from those disclosed in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended May 31, 2024.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.