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Nike revenue surges 10% to $10.3 bn in Q2 FY20

23
Dec '19

Pic: Nike

Revenue for Nike increased to $10.3 billion in Q2 of fiscal 2020, up 10 per cent on a reported basis and up 13 per cent on a currency-neutral basis, driven by strong growth across all geographies. Net income increased 32 per cent to $1.1 billion. Nike is world's leading designer, marketer and distributor of athletic footwear, apparel, equipment and accessories.

Revenues for the Nike Brand were $9.8 billion, up 12 per cent on a currency-neutral basis driven by growth across wholesale and Nike Direct; key categories including sportswear, the Jordan Brand and Running, and continued growth across footwear and apparel.

Revenues for Converse were $480 million, up 15 per cent on a currency-neutral basis, mainly driven by double-digit growth in Asia and Europe, as well as through digital globally.

“In Q2, Nike has proven again that innovation is our greatest competitive edge – turning athlete insights into breakthrough product and digital services, as we offer more choice to more consumers at an accelerated pace,” said Mark Parker, chairman, president and CEO, Nike. “Our entire Nike team is fuelling our current momentum, and I’ve never been more optimistic about the future of this company.”

“Nike delivered another strong quarter of accelerating, high-quality growth, driven by strategic and targeted investment in our digital transformation,” said Andy Campion, executive vice president and chief financial officer, Nike. “As we deliver a relentless flow of innovation and scale Nike’s digital advantage, we are positioned for even greater competitive separation and long-term shareholder value creation.”

Fibre2Fashion News Desk (PC)

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