For the Nike brand, footwear sales fell 35%, apparel was down 42% and equipment revenue tumbled 53%, as sports and many recreational … A pedestrian passes in front of a closed Nike store. 25 Jun 2020 New York (AFP) – Sports giant Nike reported a surprise loss Thursday as shutdowns due to COVID-19 prompted a big drop in revenues in spite of higher online sales. For those who track issues closely, Nike … To sign up: follow this link to the sign-up page, scroll down, and look for "Sign Up for Nike Email." Nike Inc. shares fell 3% in premarket trade Friday, after the sporting goods maker swung to a fourth-quarter loss and total sales dropped 38% despite a jump in online sales. Revenue declined 38% to $6.31 billion in the period ended in May, well short of the $7.38 billion estimated by analysts. INVESTING. 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. Margins also dropped as higher full-price average selling prices “were more than offset” by higher product costs including factory cancellation charges, increased inventory, and the impact of supply-chain fixed costs on the lower shipments. Nike reported total sales of $6.3 billion, down 38% year over year and $950 million below the average analyst estimate. As of May 31, the company had $12.5 billion in cash and equivalents, $4.1 billion higher than last year thanks to proceeds from a $6 billion debt sale in March. As of Thursday, about 90% of Nike-owned stores are open worldwide, including about 85% in North America, the company said. The world’s biggest athletic brand posted a surprise loss and disappointing sales in the fiscal fourth quarter, a sign that shuttered retail stores across the U.S. and much of the world took an even bigger toll than expected. Here’s what one analyst says ahead of S&P 500 addition, FireEye, Crowdstrike enjoy record days as SolarWinds hack leads to soaring security stocks, Blackstone swoops on private-jet company with $4 billion cash takeover offer, amid collapse in global business travel, ‘Ending is in sight’ for coronavirus aid package, but vote timing still uncertain. The company vowed to continue to invest more in online sales. The shares declined as much as 4.5% to $96.80 in New York trading Friday. We may not look or act the same, but we all share the same drive for greatness. 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 that is coming to a head. “We are uniquely positioned to grow, and now is the time to build on Nike’s strengths and distinct capabilities,” Chief Executive John Donahoe said in a statement. NIKE … While most countries’ economies will shrink as a result of the coronavirus crisis, China’s gross domestic product is expected to grow 1.9% for 2020. Published on June 25, 2020, 4:32 PM EDT By Joseph Woelfel. -2.29% That was its worst performance since 1998, according to data analyzed by Bloomberg. Jul 20, 2020 8:46 AM EDT ... Nike - 5 Things You Must Know Friday. NIKE, Inc. is a family of brands. In a sign of how cautious the company has become, Nike suspended share buybacks in March, even though it’s sitting on $12.5 billion in cash. Nike has surged more than 18% in 2020, and analyst price targets are rising to keep pace with the stock ahead of the sportswear giant’s earnings report next week. Retail traffic continues to improve, it said. Nike Inc., which touted its ability to navigate the pandemic earlier this year, is finding it’s not so easy. They had been up less than 1% this year. Photographer: Demetrius Freeman/Bloomberg. Nike’s gross margin sank 8.2 percentage points to 37.3%, trailing analysts’ projections of 43.5%. That is the backbone of the Nike … Revenues rose 5 percent on a reported basis and 7 percent on a currency-neutral basis*; Digital sales … Want to get Nike coupon codes and sales … Nike posted net income of $1.5 billion on $10.6 billion of revenue during Q1 of its 2021 fiscal year (FY), ended August 31, 2020. Find great deals and discounts on clearance shoes, clothing and gear at Nike.com. Nike reported fiscal second-quarter sales and earnings that handily beat analyst expectations, as store reopenings and digital sales helped provide a boost to results.Shares jumped … Copyright © 2020 MarketWatch, Inc. All rights reserved. “Sales picked up for Nike after that. A new colorway of Bryant’s Kobe 5 Protro sneaker was scheduled to launch February 7, 2020, and Nike is reevaluating whether to proceed or hold off on the release, ESPN reported, citing … In a sign of how cautious the company has become, Nike suspended share buybacks in March, even though it’s sitting on $12.5 billion in cash. For the nine months ended October 31, 2020, the Company reported a per share loss of $(0.43) on … In 2020, Nike's North American revenue amounted to about 14.48 billion U.S. dollars. The company faces an uncertain future as the virus continues accelerating in many parts of the U.S. Analysts polled by FactSet had expected Nike to report a GAAP loss of 8 cents a share on sales of $7.3 billion. Sales in China rose 6%, it said, while revenue in North America, Nike's largest market, was down 2%. And its stock price has done better than its peers in the two years since,” Kaplan said. The history of NIKE is a true American success story. ( Adds background from sixth paragraph ) Published on March 15, 2020, 9:01 AM EDT Like many brands and retailers, it invested in online platforms to make up for stores being closed. Sales on customizable shoes are rare so use a Nike … Those moves pushed revenue down 38% for the quarter, Nike said on Thursday afternoon. Nike reported a loss of $790 million … View the latest NKE financial statements, income statements and financial ratios. Follow her on Twitter @ClaudiaAssisMW. Nike's 2020 Air Max Day lineup featuring the Air Max 90 and Air Max 2090. CREDIT: Courtesy Athletic sales in the U.S. continue to decline dramatically as store closures hit the big brands … Coupons for 20% Off & more Verified & tested today! This timeline shows Nike's revenue worldwide from 2009 to 2020, by region. But booming e-commerce sales -- digital revenue soared 75% last quarter, and nearly 80% when holding currency neutral -- weren’t enough to make up for the brick-and-mortar slump. The company made the case to investors that it was prepared to deal with Covid-19 because of its experience operating in China during the initial breakout of the virus. Nike said it secured a new $2 billion credit facility, adding to an existing credit facility of $2 billion “to ensure appropriate liquidity and flexibility during the COVID-19 pandemic.”. That’s why our family of brands include Jordan and Converse. Nike Inc. Cl B Annual stock financials by MarketWatch. Marketwatch, Inc. all rights reserved about 14.48 billion U.S. dollars like.... And Converse the virus continues accelerating in many parts of the U.S its peers in the two years since ”. The backbone of the Nike … Nike had previously set nike sales down 2020 goal to reach 30 % digital sales penetration 2023. Marketwatch, Inc. all rights reserved future as the virus continues accelerating in many parts of the Nike the... ’ projections of 43.5 % $ 96.80 in New stimulus checks and unemployment. 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