Last Thursday, the American sportswear giant Nike announced key financial data for the third quarter of the 2020/2021 fiscal year ending on February 28.
Nike’s overall revenue in the quarter increased 3% year-on-year to US$10.357 billion, lower than analysts’ expectations of US$11.02 billion, mainly affected by shipping issues and a decline in physical retail sales. . According to IBES data from Refinitiv, Nike expects full-year revenue growth to show mid-to-low double-digit growth, slightly lower than the 15.9% growth expected by analysts.
For the third quarter of this fiscal year as of February 28, Nike’s key financial data are as follows:
Overall revenue year-on-year Increased 3%, fell 1% at constant exchange rates to US$10.357 billion, lower than analysts’ expectations of US$11.02 billion
Net profit increased 71% year-on-year to US$1.449 billion US dollars, equivalent to US$0.90 earnings per share
Gross profit margin increased 130 basis points to 45.6%
In this quarter, revenue in Greater China increased by 51%; in North America, due to supply chain challenges, container shortages and port congestion affected inventory flows and delivery times, revenue fell by 10%; Europe and the Middle East About 65% of stores in Africa and Africa have shortened their opening hours.
During the reporting period, Nike’s direct-to-consumer sales increased 20% year-on-year to US$4 billion, an increase of 16% at constant exchange rates, and NIKE Brand’s digital sales It increased by 59% year-on-year and 54% at constant exchange rates.
Nike President and CEO John Donahoe said, “Driven by our strong competitive advantages, Nike continues to deeply connect with consumers around the world. Our strategy is By making a difference, we will accelerate innovation to create seamless, high-end markets of the future. I have never been more confident that our leaders and teams can operate nimbly in a dynamic environment.”
By market
North American sales were US$3.564 billion, a year-on-year decrease of 10%, and a year-on-year decrease of 11%; of which footwear sales decreased by 9% year-on-year. %, sales of ready-made clothing dropped 11% year-on-year, and sales of sports equipment dropped 23% year-on-year;
Sales in Europe, the Middle East and Africa were US$2.609 billion, down 4% year-on-year, It fell 9% at constant exchange rates; of which, sales of shoes fell 6% year-on-year, sales of ready-made clothing increased 1% year-on-year, and sales of sports equipment fell 4% year-on-year;
大 Sales in China were US$2.279 billion, a year-on-year increase of 51%, and a year-on-year increase of 42%; of which footwear sales increased by 50% year-on-year, ready-to-wear sales increased by 54% year-on-year, and sports equipment sales increased by 58% year-on-year;
Sales in Asia Pacific and Latin America were US$1.315 billion, a year-on-year decrease of 7%, and a decrease of 8% at constant exchange rates; of which footwear sales decreased by 6% year-on-year, and ready-to-wear sales decreased by 6% year-on-year. Sales fell 6% year-on-year, and sales of sports equipment fell 25% year-on-year
By brand
Nike : At constant exchange rates, revenue fell 2% year-on-year to US$9.773 billion
Converse (Converse): At constant exchange rates, revenue increased 13% year-on-year to $9.773 billion. 570 million US dollars,
Last week, Nike released the 2020 Impact Report, reviewing the company’s efforts in reducing its environmental footprint and inspiring more vitality in fiscal year 2020 achievements in the three major areas of developing the next generation and unleashing human potential, as well as the completion of previously established five-year goals. The report also describes the strong measures the company has taken in the face of the COVID-19 pandemic during this challenging year.
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