Nike reported on Friday (Dec. 18) as a part of its Q2 fiscal 2021 financial results that its flagship Nike model’s digital gross sales surged 80 % on a currency-neutral foundation in the course of the three-month interval. The shoe large mentioned that included triple-digit share progress in North America and double-digit share will increase in different areas.
The sportswear firm additionally reported that gross sales at Nike Direct, its direct-to-consumer (D2C) enterprise, jumped 32 % on a currency-neutral foundation to $4.three billion, with “double-digit progress throughout all geographies.”
“Nike’s robust outcomes throughout a dynamic setting present the ability of staying on the offense,” President and CEO John Donahoe mentioned in announcing the results. “Fueled by compelling modern product and international model momentum, we proceed to increase our management. Our technique is working, and we’re excited for what’s forward.”
All advised, Nike reported $10.7 billion in Nike model revenues, marking an increase of eight % from the previous 12 months on a currency-neutral foundation. The corporate attributed the beneficial properties to formidable growth in its Nike Direct, sportswear and Michael Jordan-related companies. Nonetheless, mid-single-digit decreases within the firm’s wholesale enterprise partly offset that energy.
Nike additionally reported that revenues fell Four % on a currency-neutral foundation to $476 million at its Converse model, the place double-digit progress in digital and Asia gross sales didn’t offset decreased European and North American revenues.
General, Nike reported 78 cents in diluted earnings per share (EPS) on revenues of $11.2 billion. That exceeded analyst expectations of 62 cents per share on $10.56 billion of revenues.
“With wholesome stock positions throughout all geographies, our return to progress is a testomony to our digital energy in addition to our disciplined market and monetary administration,” mentioned Govt Vice President and Chief Monetary Officer Matt Friend. “As we glance forward, we’re centered on shifting even sooner towards our strategic imaginative and prescient of shopper direct acceleration and fueling sustainable, long-term progress and profitability.”
— to www.pymnts.com
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