Driven by an 84 percent increase in online business Revenues climbed a total of nine percent to $ 11.2 billion. With this, Nike clearly exceeded market expectations.
Nike was able to grow in all regions. The growth driver, however, was business in China, which grew by 24 percent; adjusted for currency effects, the increase was 19 percent. China hit the $ 2 billion mark in a quarter for the first time. In the Europe / Middle East / Africa region, sales increased by 12 percent after adjusting for currency effects. In North America, however, sales increased by just 1 percent.
The company has raised its sales forecast for the current financial year. Nike is now assuming growth of around 13 to 15 percent. So far, the sporting goods manufacturer had expected an increase in sales in the high single-digit to low double-digit percentage range.
Nike referred to the dynamic situation in connection with the corona pandemic. In parts of the USA and Europe, for example, there are new government restrictions. Nike will therefore continue to act cautiously when building up stocks.
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