Nike (NKE) Stock Rose 40% Last year, Managed To Maintain Revenue Growth

For the second quarter of fiscal 2021, Nike Inc. (NKE) posted results above the forecasts of Wall Street analysts. In spite of the pandemic, the sportswear and apparel manufacturing firm continues to rise revenue year-on-year.


Here's Your FREE Report on the #1 Small-Cap Uranium Stock of '22.
Small-cap Uranium stocks are booming in 2022! The company we're about to show you is the ONLY small-cap stock in the space that benefits from ALL aspects of the global Uranium industry with none of the risks of running a mine. Smart investors will not be hesitating on this one!
Get the FREE Report with all the details here.

Sponsored


For many apparel and footwear stores and suppliers, the COVID-19 pandemic has been a tough test and a period of severe market decline. Initially, Nike has encountered issues with distribution and supply chains. The sales of the company, however, eventually recovered, including through e-commerce.

Nike’s sales rose 9 percent year-on-year to $11.2 billion in the second quarter. GAAP net income increased by 12 percent to $1.25 billion or $0.78 per share. China was the most profitable region where quarterly revenue increased by 24 percent year-on-year. Owing to the closing of stores and shopping malls, e-commerce growth was 84 percent year-on-year, which helped counter the fall in conventional retail. Some analysts, including KeyBanc, claim that Nike has not completely realized its e-commerce potential yet and will make this aspect of the organization much more strong.

Nike was able to improve sales specifically due to the features of the collection, considering the general unfavorable situation in the footwear and apparel retail market. The first to suffer were suppliers of festival and business clothes due to social restriction. Around the same time, particularly through the most extreme limitations, the market for comfortable sportswear and shoes continued. Then one of the few legally allowed excuses for leaving the house became individual athletics, and many took advantage of it. Thus, the market for items from Nike continued.

NIKE, Inc. (NKE) was stable at -0.08% to mark $141.47, having risen in price by more than 43 percent over the past six months. The Beaverton, Oregon-headquartered firm has added nearly 39 percent during past one year, raising its market capitalization to over $222 billion.

Latest

The Chart for Block Inc. (SQ) Stock Is Flashing Mixed Signals

In the first quarter, large investment funds expanded their...

What to Expect When Snap Inc. (SNAP) Reports Quarterly Earnings?

Snapchat, a social media platform owned by Snap Inc....

Getting Sustainable Earnings? Movado Group Inc. (MOV)

Movado Group Inc. (NYSE: MOV), the owner of the...

Future Prospects Brighter For Red Cat Holdings Inc. (RCAT) Stock

The US Army has awarded Red Cat Holdings, Inc....

Newsletter

 

Don't miss

Healthy Upside Potential: Maxar Technologies Ltd. (MAXR)

In May 25 trading, shares of space business Maxar...

Atkore Inc. (ATKR) stock: Better Than You Think

Atkore Inc. (NYSE:ATKR), a manufacturer of infrastructure, electrical, and...

Provention Bio, Inc. (PRVB) Having a Robust Premarket After Abysmal Thursday

Provention Bio, Inc. (PRVB), a clinical stage biopharmaceutical company,...

Farmmi, Inc. (FAMI) Stock Soaring in Premarket, Here’s the Reason

Farmmi, Inc. (FAMI), a company that processes and sells...

Ulta Beauty Inc. (ULTA) last month performance of -6.16% certainly makes it a sizzling prospect

Ulta Beauty Inc. (NASDAQ: ULTA) open the trading on May 26, 2022, with great promise as it jumped 7.09% to $377.96. During the day,...

The key reasons why Alset EHome International Inc. (AEI) is -95.54% away from 52-week high?

Witnessing the stock’s movement on the chart, on May 26, 2022, Alset EHome International Inc. (NASDAQ: AEI) set off with pace as it heaved...

StoneCo Ltd. (STNE) latest performance of 2.97% is not what was on cards

StoneCo Ltd. (NASDAQ: STNE) established initial surge of 2.97% at $9.71, as the Stock market unbolted on May 26, 2022. During the day, the...

LEAVE A REPLY

Please enter your comment!
Please enter your name here