Nike’s Third Quarter Sees 59% Surge in Digital Sales
Nike is believed to have generated a revenue of $10.4 billion USD over the third fiscal quarter of 2021 even though 45% of its stores faced shutdown as a result of lockdown regulations. It is believed that digital sales were majorly responsible to generate such figures.
As per the new report by Nike, North American revenues were hit 10% as a result of supply chain issues, including port congestion and shortage of containers while Nike Direct sales were up by 20% to $4 billion USD. Amongst all, the brand’s digital sales seems to be doing the trick by pulsating 59% with unhindered double-digit growth across all regions. Diluted earnings per share now come in at $0.90 USD.
“Nike continues to deeply connect with consumers all over the world driven by our strong competitive advantages,” said John Donahoe, Nike’s president and CEO. “Our strategy is working, as we accelerate innovation and create the seamless, premium marketplace of the future. I’ve never been more confident in our leadership and teams to operate with agility in a dynamic environment.”
“Nike’s brand momentum is as strong as ever and we are driving focused growth against our largest opportunities,” added Matt Friend, the company’s EVP and CFO. “We continue to see the value of a more direct, digitally-enabled strategy, fueling even greater potential for Nike over the long term.”
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