NIKE (NKE) Beats Q2 Earnings & Sales Estimates, Stock Down. Nike’s ability to speak to the current global sociocultural environment builds its deep emotion with its core customer base. I have over 25 years of experience in the retail industry across many functions including general management, marketing, operations, merchandising, buying, and human resources. Nike has added over 70 million members to its loyalty program this year. Our strategy is working, and we are excited for what’s ahead.” Nike is very focused on customer engagement and the direct-to-consumer model and views these initiatives, along with continued product innovations, as future drivers of positive financial results into the next year. despite store closings and restricted occupancy. Nike Inc. Cl B Annual stock financials by MarketWatch. There is strong demand coming from … Nike also breaks down the share of revenue from its distribution channels: Sales to Wholesale Customers (63.6%); Sales through Direct to Consumer (i.e. Regardless of these looming threats, Nike has weathered 2019 relatively unscathed, even landing among the top 15 analyst picks among the Dow. November apparel and accessories store sales were down 19.2%, however, Nike has been able to buck ... [+] this sales trend. I am a contributor to Forbes.com, The Robin Report and a member of the BrainTrust for RetailWire. This timeline depicts Nike's sales (or company revenue) worldwide 2005-2019. The stock had closed the day down about 0.6%. AMZN © 2020 Forbes Media LLC. For more information see our. Jul 3, 2019 at 4:57PM ... (which grew North American Nike brand sales 7% last quarter) during its patriotic dilemma. Ports? As a recognized top retail influencer, I have appearances across many media outlets including NBC Nightly News, Forbes.com, Wall St. Journal, New York Times, Women’s Wear Daily, Reuters, The Washington Post, Fortune, and Chain Store Age. Nike asks you to accept cookies for performance, social media and advertising purposes. In June 2017, Nike outlined a new strategy to drive growth into the coming decade, which it called Consumer Direct Offense. By continuing to browse our site, you agree to the use of these cookies. NRF Calls For Retail Workers To Get Vaccine First. I am an associate professor at Fashion Institute of Technology, Chief Strategy Officer at The Robin Report and CEO/founder of my consulting business. Season-to-date February through November, retail sales were up 4.5% and apparel and accessories down 31%. The results fell slightly short … De-selecting these cookies may result in seeing advertising that is not as relevant to you or you not being able to link effectively with Facebook, Twitter, or other social networks and/or not allowing you to share content on social media. ET by Jeremy C. Owens VF Corp. stock outperforms competitors despite losses on … Matt Friend, executive vice president and CFO of Nike, Inc. This pivot allowed Nike to maintain control of the brand and keep close ties with its customers, a strategy called “Consumer Direct Offense”. View, Social media cookies offer the possibility to connect you to your social networks and share content from our website through social media. Zacks Equity Research December 20, 2019. UAA The athleisure brands Nike, Adidas, lululemon and Under Armour, are outpacing the general apparel ... [+] market www.placer.ai. We think you are in {country}. NIKE annual revenue … (Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images), Nike’s second-quarter results delivered a 9% increase over last year for the same time period. NIKE (NKE) Beats Q2 Earnings & Sales Estimates, Stock Down. Major snowstorm bears down on Northeast; ... Nike's annual sales have jumped 7% to more than $39 billion, according to its last quarterly report. Nike on Thursday reported fourth quarter revenue of $10.2 billion, up 4%, as full year revenue grew 7% to $39.1 billion, according to a company press release. Nike (NKE) posted better-than-expected Q3 fiscal 2019 earnings and revenue after the closing bell Thursday. Sales in North America were down 46% (link) Nike saw the COVID-19 economic contraction as a way to hide a top-line and bottom-line collapse that has very little to do with the … *Minus Autos and Gas. You may opt-out by. Nike said revenues from its direct-to-consumer division amounted to $11.8 billion in fiscal 2019, fueled by a 35% jump in online sales and same-store sales growth of 6%. NIKE annual revenue for 2020 was $37.403B, a 4.38% decline from 2019. The pillars of the plan included focusing on key cities, ramping up … On Thursday, the brand had closed at a record-high of $88.01 USD, increasing 32 percent from last … De-selecting these cookies may result in poorly-tailored recommendations and slow site performance. Is It To Preserve Workers’ Health Or Industry Profits? Nike Stock. Nike shares, as of Tuesday’s market close, have climbed more than 17% this year. View the latest NKE financial statements, income statements and financial ratios. I am a retail pundit, business strategist, speaker and professor. The brand went from over 30,000 distributors down to a focus on 40 of them. To get more information about these cookies and the processing of your personal data, check our Privacy & Cookie Policy. Donahue states, “Fueled by compelling innovative product and global brand momentum, we continue to extend our leadership. Whisky’s Pandemic Immunity: Macallan Breaks Launch Record With $2 Million In Orders At Prestige Drinks Retailer Le Clos, Q&A With Moncler’s Remo Ruffini, On Stone Island Partnership, 2021 And Beyond. Become a Nike Member for the best products, inspiration and stories in sport. Three years ago, Nike made a significant change in strategy by reducing the number of wholesale distributors, eventually including Amazon NIKE’s full-year sales were 6% below last year’s and gross margin was down slightly from 44.7% to 43.4%. Nike’s digital business allows the brand to continue to connect with its members and increase sales ... [+] despite store closings and restricted occupancy. On a constant-currency basis, Nike’s sales to wholesale customers increased by 6% in fiscal 2019 compared to fiscal 2018. I teach at Syracuse University in Martin J. Whitman School of Management. Ethan Chernofsky, vice president marketing of Placer.ai, stated, “Nike visits had pulled within ... [+] striking distance of 2019 levels by October with visits down just 1.9% year over year.” www.placer.ai. And though Under Armour raised its full-year earnings targets on the back … , to focus on the direct-to-consumer market. Friend discussed NIKE’s quick response to inventory overages due to closed stores … Chernofsky believes while November marked a significant step back in terms of traffic to stores, much of that centered around the unique heights reached during a ‘normal’ holiday season and the resurgence of COVID cases. Social media cookies offer the possibility to connect you to your social networks and share content from our website through social media. , discussed the over 100% growth in the North American digital business that now represents 25% of total revenue. Even though Nike did not disclose the details of declining traffic in stores on the earnings call, Placer.ai can understand where people are shopping by analyzing geolocation data. Shop Nike.com for clearance men's shoes, clothing and gear. Ethan Chernofsky, vice president marketing of Placer.ai, stated, “Nike visits had pulled within striking distance of 2019 levels by October with visits down just 1.9% year over year.” The athleisure brands Nike, Adidas, lululemon and Under Armour Nike’s sales have been on the rise as the company focuses on selling more of its swoosh-branded sneakers online and on its apps. in Organizational Behavior from University of San Francisco and an A.S. in Fashion Merchandising and Buying from Fashion Institute of Technology. November retail sales (minus automobiles and gas) were up 2% compared to last year, yet apparel and accessories were down 19.2%. You can always change your preference by visiting the "Cookie Settings" at the bottom of the page. Do you accept these cookies and the processing of personal data involved? Donahue stated, “Product innovation and brand strength allows us to connect with our customers worldwide.”. Nike stock prices were down more than 5 percent to $82.54 USD as of 2:30 p.m. EST. They help make the shopping cart and checkout process possible as well as assist in security issues and conforming to regulations. Social media and advertising cookies of third parties are used to offer you social media functionalities and personalized ads. Nike’s capex (capital expenditures) have slumped over the past couple of years. Ethan Chernofsky, vice president marketing of Placer.ai, stated, “Nike visits had pulled within striking distance of 2019 levels by October with visits down just 1.9% year over year.” For the current fiscal year, analysts are calling for Nike … My interdisciplinary education includes an M.B.A. in Strategic Business Administration from Penn State University, a B.S. For more information about this processing of personal data, check our, Nike processes information about your visit using cookies to improve site performance, facilitate social media sharing and offer advertising tailored to your interests. (Photo Illustration by Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images), striking distance of 2019 levels by October with visits down just 1.9% year over year.” www.placer.ai, EY & Citi On The Importance Of Resilience And Innovation, How Digital Workflows Helped Save Basketball During The Pandemic, Impact 50: Investors Seeking Profit — And Pushing For Change, Michigan Economic Development Corporation With Forbes Insights, Dillard’s And New Orleans Mutually Benefit From Keeping Mr. Bingle Alive And Well. To get more information about these cookies and the processing of your personal data, check our, You can always change your preference by visiting the "Cookie Settings" at the bottom of the page. Nike asks you to accept cookies for performance, social media and advertising purposes. These include cookies that allow you to be remembered as you explore the site within a single session or, if you request, from session to session. Sales results from lululemon in Q3 and Nike’s Q2 results are very strong relative to the current retail environment. BEAVERTON, Ore., June 27, 2019 - NIKE, Inc. (NYSE:NKE) today reported financial results for its fiscal 2019 fourth quarter and full year ended May 31, 2019. In some cases, these cookies involve the processing of your personal data. Lululemon, which is on a different financial calendar, recently posted 22% revenue growth for its Q3. Zacks Equity Research. I have over 25 years of experience in the retail industry across many functions including general management, marketing, operations, merchandising, buying, and human. To get more information or amend your preferences, press the ‘more information’ button or visit "Cookie Settings" at the bottom of the website. NIKE Direct) (36.1%); and a … Opinions expressed by Forbes Contributors are their own. These cookies allow us to improve the site’s functionality by tracking usage on this website. Social media and advertising cookies of third parties are used to offer you social media functionalities and personalized ads. NIKE revenue for the quarter ending August 31, 2020 was $10.594B, a 0.62% decline year-over-year. Nike outpaced expectations in … However, top athleisure brands have been able to buck both quarterly sales and season-to-date sales trends as compared to apparel markets. Chernofsky discussed data around November performance noting that since November 2nd, Nike, Under Armour and Lululemon have outperformed the wider apparel category every week in terms of year-over-year store visit numbers. To get more information or amend your preferences, press the ‘more information’ button or visit "Cookie Settings" at the bottom of the website. Third-quarter sales in Nike’s home market, by far its biggest, totaled $3.81 billion in the period ended Feb. 28, short of the $3.85 billion average of estimates. Jul 30, 2019 at 9:34PM ... Morgan Stanley expects the market to reach about $355 billion in sales by 2021, ... Nike is also doubling down on innovation. In some cases, these cookies involve the processing of your personal data. All Rights Reserved, This is a BETA experience. NIKE revenue for the twelve months ending August 31, 2020 was $37.337B, a 6.26% decline year-over-year. In the Never Too Far Down ad, Nike illustrates its constant ability to understand the plight of its consumers. The company’s sales through Nike Direct expanded 13% over this period. In 2019, Nike's sales amounted to about 39 billion U.S. dollars. The ability to reach customers digitally has been enhanced through apps, online purchasing, curbside pickup or in-store technologies that help facilitate the shopping and buying experience. Direct-to-consumer sales were up 32% and digital sales were up 84%. ... First published on July 4, 2019 / 8:45 AM Lululemon has a similar strategy in terms of maintaining a deep connection with customers, which has helped the brand weather the pandemic store closings and occupancy limitations. Advertising cookies (of third parties) collect information to help better tailor advertising to your interests, both within and beyond Nike websites. Over 60 million customers across 25 countries participated in Member’s Day, a new event providing unique retail moments, first access to products, exclusive products and added rewards. For more information about this processing of personal data, check our Privacy & Cookie Policy. 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