World, As Seen from the most beautiful islands: Ireland and Cyprus

Nike shows strong performance in the last quarter of the 2020


The American sporting goods brand Nike has achieved a higher turnover in the last quarter, thanks in particular to a strong growth in sales over the internet. The profits of the producer of sneakers and sportswear also increased.

Turnover in the second quarter of the broken financial year ended at the end of November increased by 9 percent to 11.2 billion dollars compared to last year. There was growth in all regions,but in China, in particular, it was very good with a 24% plus. The online sales jumped by 84 percent, with North America in particular being an outstanding player. The strong internet sales offered compensation for Nike’s shops that had to close temporarily because of the second wave and new lockdowns in several countries.

There was a net profit of 1.3 billion dollars, which is 12 percent more than a year earlier. John Donahoe spoke of strong accomplishments for Nike. According to the company, more than 90 percent of its own shops are still open, sometimes with limited opening hours.

The quarterly results were better than stock exchange analysts had expected, as average sales were estimated at 10.6 billion dollars. The profit per share was also higher than expected. This year, the company’s price went up by 36 percent.

Written by: Harry Adams

Harry Adams is a political expert who has been working for various publications under pseudonyms for 11 years. He loves sarcasm and a rigid presentation of the material without decorations.

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World, As Seen from the most beautiful islands: Ireland and Cyprus

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