Donahoe said Nike's profit outlook is improving, too, as it plans for less discounting in the coming quarters. Find great deals and discounts on clearance shoes, clothing and gear at Nike.com. Free delivery and returns on select orders. Free Shipping on eligible items. Nike said more than 4 million new customers purchased its products during Singles Day, a shopping event put on by Chinese e-commerce giant Alibaba. Nike Inc. gained in late trading after second-quarter revenue and profit topped Wall Street’s expectations, bolstered by e-commerce sales and rebounding growth in China. The company has a market cap of $215.5 billion. 24, 2020 – NIKE, Inc. (NYSE:NKE) today reported fiscal 2020 financial results for its third quarter ended February 29, 2020. In fiscal 2020, digital sales increased 47 percent, or 49 percent on a currency-neutral basis, with all geographies growing strong double-digits. Sign up for free newsletters and get more CNBC delivered to your inbox. Skip to content. Find the complete earnings press release from Nike here. Converse, a wholly-owned NIKE, Inc. subsidiary brand, designs, markets and distributes athletic lifestyle footwear, apparel and accessories. Adidas and Vans have also shown a positive turn in trends. During the widespread physical store closures, we accelerated our connection and engagement with our consumers leveraging the strength of our digital ecosystem. Analysts had been calling for growth of 12.3%, according to Refinitiv. Nike has also spent on technology to make products like its lightweight, roughly $220 Nike Air VaporMax 2020 Flyknits that use recycled polyester yarn. Fourth quarter reported revenues were $6.3 billion, declining from prior year as the majority of NIKE-owned and partner stores in North America, EMEA and APLA were closed due to the COVID-19 pandemic. Free delivery and returns on select orders. "We're going to be more aggressive in adjusting our plans," with wholesalers, Donahoe said Friday. For more information, NIKE, Inc.’s earnings releases and other financial information are available on the Internet at http:// investors.nike.com. "Permanent shifts toward digital, athletic wear, and health and wellness, continue to offer us incredible opportunity.". In the first half of fiscal 2020, prior to COVID-19, NIKE, Inc. revenue was up 9 percent, or 11 percent on a currency-neutral basis, reflecting strong, broad-based consumer demand, higher full-price sales realization and a double-digit increase … Shop Nike Men's Clothing, Shoes & Accessories on Sale at Macys.com. The Nike brand is “resonating very well with consumers globally,” despite the backdrop of sales pressure from the pandemic. Nike delivers innovative products, experiences and services to inspire athletes. Got a confidential news tip? Nike shares hit all-time high as new products drive sales, earnings top expectations Published Tue, Sep 24 2019 4:19 PM EDT Updated Tue, Sep 24 2019 6:07 PM EDT Lauren Thomas … Investors. Source: TY Lim / Shutterstock.com When Nike reported a rare, adjusted loss of 51 cents per share at … BEAVERTON, Ore., June 25, 2020 - NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2020 fourth quarter and full year ended May 31, 2020. In North America, EMEA and APLA, approximately 90 percent of physical owned stores were closed during the fourth quarter with stores gradually reopening at different paces in each country beginning in mid-May. These risks and uncertainties are detailed from time to time in reports filed by NIKE with the U.S. Securities and Exchange Commission (SEC), including Forms 8-K, 10-Q and 10-K. Read More: "As we look forward, we are going to be more aggressive with larger ... customers that we have been working with, and we're working closely with our strategic wholesale partners in a city-by-city, mall-by-mall, street-by-street basis to work together to determine how we're going to recapture that demand.". If you've been patiently waiting for some Nike Cyber Monday deals to hit the web, we've got some very good news: the Swoosh just reloaded its sale section with an extra 25% off hundreds of … Sales at the Converse brand, which is owned by Nike, fell 1% during the second quarter. Women's Running Shoe. Here's how the company did during its fiscal second quarter, compared with what analysts were expecting, based on Refinitiv data: For the three-month period ended Nov. 30, Nike reported net income of $1.25 billion, or 78 cents per share, up from $1.12 billion, or 70 cents a share, a year earlier. Find Sale at Nike.com. In Greater China, Nike's revenue grew 24%, compared with year-over-year growth of just 1% in North America. They will benefit just as much from Nike codes combined with the sales you love, which make that extra difference. "Our ability to reach consumers digitally in a variety of manners is just getting better and better as this pandemic goes on," Donahoe told analysts. Beat the rush and find great gifts with the Nike Black Friday collection, featuring the season's latest shoes and gear. Nike lost $790 million, or 51 cents a share, in the fourth quarter, contrasting with earnings of $989 million, or 62 cents a share, in the year-ago quarter. Earnings per share: 78 cents vs. 62 cents, expected, Revenue: $11.24 billion vs. $10.56 billion, expected. Revenues rose 5 percent on a reported basis and 7 percent on a currency-neutral basis*; Digital sales … Now add the kid-specific savings. Sale Nike Promo Codes, Coupons & Sales | Week Of December 14, 2020. Individuals can also visit http://news.nike.com and follow @NIKE. To give you a head start on shopping, we rounded up 17 of the best deals to add to cart, below. We are continuing to invest in our biggest opportunities, including a more connected digital marketplace, to extend our leadership and fuel long-term growth.”**, As of today, approximately 90 percent of NIKE-owned stores are open across the globe. The 2020 holiday season could be a make or break it for many retailers. (Press Enter) ... Nike Flex 2020 RN. BEAVERTON, Ore., Mar. Ninety percent of Nike's stores are currently open, though some are operating on reduced hours. Choose from many Nike … "These are times when strong brands get stronger," Chief Executive John Donahoe said during an earnings conference call. Find Sale at Nike.com. Nike sits alongside Lululemon, Dick's Sporting Goods and other retailers that sell workout gear and sports equipment that have rebounded more quickly this year. Consider a subscription with the Adventure Club. Giannis Nike … Nike has revealed it plans a double-digit increase in its quarterly dividend as it forecasts a sales bounce due to the Covid-19 pandemic. Visit your local Foot Locker at 169 Market Street in Newark, NJ to get the latest sneaker drops and freshest finds on brands like adidas, Champion, Nike, and more. As of market close on Friday, Nike shares have surged more than 37% this year. Data is a real-time snapshot *Data is delayed at least 15 minutes. Strong sales during Alibaba's Single's Day in China, and Black Friday in the U.S., also helped it barrel into the holidays with tighter inventories, reducing the need for discounting. That helped to offset declines at its wholesale partners, the company said, and in its own brick-and-mortar stores, with fewer people feeling comfortable leaving their homes to shop due to the global health crisis. ** The marked paragraph contains forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially. During the fourth quarter, NIKE, Inc. repurchased 1.9 million shares for approximately $159 million before suspending share repurchase activity in March to maximize liquidity in the current dynamic environment. Over the summer, it opened a new kind of store, called Nike Rise, at a mall in Guangzhou, which holds local meetups for its mobile-app users. That was better than the $10.56 billion expected by analysts. Our wholesale partners largely followed the same pattern and as a result, product shipments to wholesale customers were down nearly 50 percent resulting in lower total revenue and higher inventory. "We think we're better-positioned at this point to manage through the uncertainty probably than we were prior to the pandemic," CFO Matt Friend said. Revenue grew 9% year over year to hit $11.24 billion, up from $10.33 billion a year ago. In all, Nike rang up over half a billion dollars in online sales during Singles Day, which occurs on Nov. 11. Then follow this link to the homepage to check for any current … Greater China revenues increased 8 percent, or 11 percent on a currency-neutral basis, marking its sixth consecutive year of double-digit growth on a currency-neutral basis. Shop our collection of women's clearance sale Nike clothing to get the best styles and deals with free shipping and curbside pickup available! 1 Colour ₱3,149 ₱4,195. Its shares jumped more than 5% in after-hours trading. All Rights Reserved. Direct-to-consumer sales were up 32% and digital sales were up 84%. NIKE has a strong track record of investing to fuel growth and consistently increasing returns to shareholders through dividends and share repurchases including 18 consecutive years of increasing dividend payouts. It was able to cut expenses as it spent less on marketing during sporting events due to the pandemic. Online sales for the Nike brand were up 84% during the period. In Greater China, nearly 100 percent of NIKE-owned stores are open. NIKE digital sales increased 75 percent in the fourth quarter, or 79 percent on a currency- neutral basis*, with strong double-digit increases across all geographies and was approximately 30 percent of total revenue. A woman carries Nike shopping bags at the Citadel Outlet mall, as the global outbreak of the coronavirus disease (COVID-19) continues, in Commerce, California, U.S., December 3, 2020. Sales rose 8.9% to … Analysts had been calling for earnings of 68 cents per share. With this momentum, Nike raised its fiscal 2021 outlook, calling for revenue to rise at a low-teens percentage year over year. For the fiscal year, Greater China revenues increased 8 percent, or 11 percent on a currency-neutral basis, marking its sixth consecutive year of double-digit currency-neutral growth despite the headwinds from COVID-19 in the second half of the year. Download the PDF of the FY20 Q4 Press Release and Schedules. Nike on Friday reported quarterly sales and earnings that topped analysts' estimates, driven by triple-digit growth online in North America and strong demand for its sneakers and workout apparel from Chinese consumers. Our fourth quarter results were significantly impacted by physical store closures across North America, EMEA and APLA, where 90 percent of NIKE-owned stores were closed for roughly eight weeks in the quarter to protect the health and safety of teammates and consumers and help slow the spread of the COVID-19 pandemic. Sales at the Converse brand dropped 38%. NIKE, Inc. management will host a conference call beginning at approximately 2:00 p.m. PT on June 25, 2020, to review fiscal fourth quarter and full year results. Earnings For those unable to listen to the live broadcast, an archived version will be available at the same location through 9:00 p.m. PT, July 11, 2020. Retail traffic continues to improve week-over-week with higher conversion rates as compared to the prior year.**. The conference call will be broadcast live via webcast and can be accessed at http://investors.nike.com. As we continue to reopen retail stores and increase distribution center activity, we remain focused on prioritizing the health of our teammates and consumers and have taken proactive steps to help ensure a safe environment. Nike’s second-quarter results delivered a 9% increase over last year. Nike's fiscal second-quarter earnings and sales topped analysts' expectations, as the sneaker maker reported strong digital growth. Today, roughly 85 percent of NIKE-owned stores are open in North America and about 90 percent in EMEA, with approximately 65 percent open in APLA or operating under reduced hours. During the quarter, we made significant investments to provide employee pay continuity and committed over $25 million to support communities impacted by COVID-19 among other COVID-19 response efforts. * See additional information in the accompanying Divisional Revenues table or the Supplemental NIKE Brand Revenue table regarding this non-GAAP financial measure. Want to get Nike coupon codes and sales as soon as they're released? Nike said its digital sales for its namesake brand were up 84% during the quarter, as more shoppers visited its website during the pandemic to buy athletic apparel and footwear to keep up their fitness routines and personal health. For the Nike brand, footwear sales fell 35%, apparel was down 42% and equipment revenue tumbled 53%, as sports and many recreational … © 2020 CNBC LLC. A Division of NBCUniversal. But customers who are venturing out to stores are more likely to buy, boosting overall conversion rates. “In a highly dynamic environment, the NIKE Brand continues to resonate strongly with consumers all over the world as our digital business accelerates in every market,” said John Donahoe, President and Chief Executive Officer, NIKE, Inc. “We are uniquely positioned to grow, and now is the time to build on NIKE's strengths and distinct capabilities. We want to hear from you. Nike Reports Profit Loss of $790 Million in Q4 and a Year-Over-Year Sales Decline of 38% (46% in U.S.)… Posted on June 26, 2020 by Sundance There is a lot of weird financial data in/around Nike … Nike said its women's category grew faster than its overall business, thanks to the launch of new yoga gear and plus-size apparel. “As physical retail re-opens, NIKE's strong digital trends continue, a testament to the strength of our brand and the investments we've made to elevate digital consumer experiences,” said Matt Friend, Executive Vice President and Chief Financial Officer, NIKE, Inc. “Amid macroeconomic uncertainty, we will continue to operate with agility, focused on optimizing marketplace supply and demand, cost management and leveraging our financial strength to drive long-term sustainable, profitable growth.”**. In fiscal 2020, the Company returned $4.5 billion to shareholders, including: As of May 31, 2020, a total of 45.2 million shares had been repurchased for approximately $4.0 billion, resulting in approximately $11 billion in remaining capacity under the 2018 share repurchase program. This year, the sale was announced on Thanksgiving and will run until 11/28. In the Greater China region, Nike's revenue grew 24%, compared with year-over-year growth of just 1% in North America. "We've learned so much over the last nine months.". Now trading at over $97 per share, Nike is on track to start posting growth for 2020. Shop Macy's Sale & Clearance for men's clothing, Nike & shoes today! The benefit is 4, 6, or 12 pairs per year for just $20, $30, or $50 per month. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. NIKE, Inc., based near Beaverton, Oregon, is the world’s leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. The retailer also said it saw "record" sales online in the United States the week of Black Friday, but it didn't disclose the exact amount. The lower costs boosted profitability. A woman carries Nike shopping bags at the Citadel Outlet mall, as the global outbreak of the coronavirus disease (COVID-19) continues, in Commerce, California, U.S., December 3, 2020. Nike is known to keep its Black Friday sales relatively secret and short. Company Giannis Nike Dri-FIT. With sales somewhat stagnant on its home turf, Nike has been doubling down on the China market, seeing the region as a key growth opportunity for the brand. 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