Contest Trader

Don't miss the chance to cash-in prizes totaling

$10.000
Register here for the Ultimate demo trading competition

Outstanding earnings figures from Nike

Outstanding earnings figures from Nike

Nike reported a significant increase in digital sales

Wall Street was swept off its feet when Nike posted the figures for the first quarter of fiscal #2021.

For the quarter, Nike reported a net income of $1.52 billion, or $0.95 per share. During the same quarter last year, it had $0.86/ share, with a total of $1.37 billion. This year it came above the $0.47 a share consensus.

Revenue-wise, the figures came in at $10.59 billion, beating the $9.15 billion forecasted. Nike sales went up 6% in China, while in North America – the company's largest market, it dropped 2%.

The company’s digital sales gained 82%. The rise was driven by a 200% increase in the women’s apparel division.

For the future, #Nike expects the revenue to be flat, with demand picking up in the second half of the year.

Following the report, Nike share price went up 8%. Year-to-date, its price added 15%, while USA30 lost 4%, and USA500 gained 3%.

Read about how other apparel companies have performed here!

Sources: cnbc.com, marketwatch.com

This information prepared by za.capex.com is not an offer or a solicitation for the purpose of purchase or sale of any financial products referred to herein or to enter into any legal relations, nor an advice or a recommendation with respect to such financial products.

This information is prepared for general circulation. It does not regard to the specific investment objectives, financial situation or the particular needs of any recipient.

You should independently evaluate each financial product and consider the suitability of such a financial product, by taking into account your specific investment objectives, financial situation or particular needs, and by consulting an independent financial adviser as needed, before dealing in any financial products mentioned in this document.

This information may not be published, circulated, reproduced or distributed in whole or in part to any other person without the Company’s prior written consent. Past performance is not always indicative of likely or future performance. Any views or opinions presented are solely those of the author and do not necessarily represent those of za.capex.com