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Article Date: September 2020
Word Count: 1036

Nike is Rolling Again, as Digital Sales Soar and Profits Return


The Eager Beavertons not only returned to the black in their fiscal first quarter ended Aug. 31 following a nine-digit FQ4 loss, but net income even surpassed last year’s result by 11% to $1,518 million up from $1,367 million, on revenues that declined less than 1% to $10,594 million from $10,660 million. The results sent NKE shares up 8% to a new record price in after-hours trading. While nearly all owned stores were open through the quarter, the E.B.s kept the e-commerce pedal on the floor, sending digital Nike brand sales up 82% including double-digit increases across North America, Greater China, ... Log in to view full article.

 


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