Nike Finishes FY21 Strong, Despite China Headwinds
Net income rebounded to $1,509 million in NKE’s fiscal Q4, against a loss of $790 million in the quarter hardest hit by the pandemic last year, on revenues that nearly doubled to $12,344 million from $6,313 million and increased 21% compared to Q4 ’19. The Eager Beavertons’ direct sales increased 73% with strong growth in owned stores more than offsetting a tough e-commerce comparison against pandemic lockdowns last year. DTC digital represented 21% of the top line in the quarter. Total digital revenue—owned and wholesale partners’—now accounts for nearly 35% of all business, three years ahead of plan, and on ... Log in to view full article.