Nike Announces $11 Billion Dollar Gain In Revenue For Q2 Of Fiscal 2021
That’s some serious money.
This week sportswear giant, Nike, announced an earning of $11.2 Billion USD in revenue for the second quarter of the 2021 fiscal year, a 9% increase on the previous year’s results.
According to the financial report, digital sales increased by “84 percent, or 80 percent on a currency-neutral basis, with triple-digit growth in North America and strong double-digit increases in EMEA, China and APLA.” With Nike stores closed across the world during the pandemic, consumers moved to buy online and took advantage of Nike’s digital offering. With more time spent indoors, gym and sportswear were in high demand, with many people looking to exercise and home workouts to fill some of the time.
Growth was present across all locales but spearheaded by China, who boosted the company’s revenue figures by 24%.
In a press release, John Donahoe, President and CEO of Nike said; “Nike’s strong results during a dynamic environment show the power of staying on the offense. Fuelled by compelling innovative product and global brand momentum, we continue to extend our leadership. Our strategy is working, and we are excited for what’s ahead.”
Read more about the results on Nike’s website.
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